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Abstract Details
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Activity Number:
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645
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Type:
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Topic Contributed
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Date/Time:
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Thursday, August 2, 2012 : 10:30 AM to 12:20 PM
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Sponsor:
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Business and Economic Statistics Section
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| Abstract - #304825 |
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Title:
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Restoring Accounting Constraints in the System of U.S. Industry Accounts
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Author(s):
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Baoline Chen*+
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Companies:
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Bureau of Economic Analysis
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Address:
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1441 L Street, NW, Washington, DC, , USA
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Keywords:
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Benchmarking ;
Large Accounts Reconciliation ;
Temporal and Contemporaneous Constraints ;
Least Squares Estimation
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Abstract:
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This study illustrates a two-step method for restoring temporal and contemporaneous constraints in the U.S annual input-output (IO) accounts between the Quinquennial benchmarks. Step 1 is a univariate benchmarking process to restore temporal constraints in each component series, and step 2 is a multivariate reconciliation process to restore contemporaneous constraints while maintaining the movements preserved via benchmarking. Two alternative procedures for reconciliation are compared. The two-step method is shown to be simple to implement and computational effective. It allows reconciliation to be conducted independent of the benchmarking prediction errors and allows reconciliation of a large system of accounts to be conducted period-by-period, thus greatly reducing the computational requirement.
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The address information is for the authors that have a + after their name.
Authors who are presenting talks have a * after their name.
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