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Activity Number:
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104
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Type:
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Topic Contributed
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Date/Time:
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Monday, August 3, 2009 : 8:30 AM to 10:20 AM
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Sponsor:
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Business and Economic Statistics Section
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| Abstract - #304854 |
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Title:
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Revision Analysis of Key Economic Indicators: A Comparison Between Euro Area and US Data
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Author(s):
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Dominique Ladiray*+ and Gian Luigi Mazzi
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Companies:
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Insee and Eurostat
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Address:
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18 Boulevard Adolphe Pinard, Paris, 75014, France
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Keywords:
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Revision analysis ; seasonally adjusted data
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Abstract:
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Revision analysis plays a crucial role when assessing the quality of economic indicators. This is particularly true for flash estimates whose quality is a result of the trade-off between timeliness and accuracy. Revision analysis is also a sensitive topic due to the different points of view of producers and users. Producers see revisions as a consequence of the progressive improvement of data precision. On the other hand, users often interpret revisions as an annoying phenomenon. In this paper we apply revision analysis to a selected set of key indicators for Euro area and US. Using descriptive and parametric measures we try to assess the relative reliability of both raw and seasonally adjusted indicators. Finally, checking the timeliness of those indicators, we compare their production process with special attention to the information acquisition and the convergence to the final value.
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