The well-known problem of too many instruments in dynamic panel data GMM is dealt with in detail in Roodman (2009, Oxford Bull. Econ. Statist.). The present paper goes one step further by providing a solution to this problem: factorisation of the standard instrument set is shown to be a valid...

“Which index formula at the elementary level, where no expenditure share weights are available, corresponds to a desired aggregate index?” To answer this question, this paper develops a statistical approach. It proposes a theoretical framework which makes it possible to achieve numerical...

The present paper refers to the ESS Guidelines on Seasonal Adjustment and gives an example of how to use them in times of crisis. Taking as a basis the example of Argentine currency in circulation, a comparison is made between revisions from readjusting data every time a new figure is released...

Seasonally adjusted gross domestic product (GDP) data are inevitably surrounded by uncertainty. Disregarding methodological improvements, two main sources of revisions can be distinguished: First, revisions that reflect the incorporation of more comprehensive or more representative, but...

The present paper explores, both theoretically and empirically, the bias of unit value indices as opposed to genuine price indices in foreign trade. An analysis of German data reveals conceptual and methodological differences, and their impact on economic indicators, namely imported inflation,...

The well-known problem of too many instruments in dynamic panel data GMM is dealt with in detail in Roodman (2009, Oxford Bull. Econ. Statist.). The present paper goes one step further by providing a solution to this problem: factorisation of the standard instrument set is shown to be a valid...

The well-known problem of too many instruments in dynamic panel data GMM is dealt with in detail in Roodman (2009, Oxford Bull. Econ. Statist.). The present paper goes one step further by providing a solution to this problem: factorisation of the standard instrument set is shown to be a valid...

Seasonally adjusted gross domestic product (GDP) data are inevitably surrounded by uncertainty. Disregarding methodological improvements, two main sources of revisions can be distinguished: First, revisions that reflect the incorporation of more comprehensive or more representative, but...

Consumer price inflation, as measured by the year-on-year increase in the Harmonised Index of Consumer Prices (HICP), is used by the European Central Bank (ECB) for assessing its monetary policy. The European Statistical System regularly introduces methodological improvements into this...