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Author: Mr.Marco Marini
Publisher: International Monetary Fund
ISBN: 1484301188
Category : Business & Economics
Languages : en
Pages : 25
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Book Description
Benchmarking methods can be used to extrapolate (or “nowcast”) low-frequency benchmarks on the basis of available high-frequency indicators. Quarterly national accounts are a typical example, where a number of monthly and quarterly indicators of economic activity are used to calculate preliminary annual estimates of GDP. Using both simulated and real-life national accounts data, this paper aims at assessing the prediction accuracy of three benchmarking methods widely used in the national accounts compilation: the proportional Denton method, the proportional Cholette-Dagum method with first-order autoregressive error, and the regression-based Chow-Lin method. The results show that the Cholette-Dagum method provides the most accurate extrapolations when the indicator and the annual benchmarks move along the same trend. However, the Denton and Chow-Lin methods could prevail in real-life cases when the quarterly indicator temporarily deviates from the target series.
Author: Mr.Marco Marini
Publisher: International Monetary Fund
ISBN: 1484301188
Category : Business & Economics
Languages : en
Pages : 25
Get Book Here
Book Description
Benchmarking methods can be used to extrapolate (or “nowcast”) low-frequency benchmarks on the basis of available high-frequency indicators. Quarterly national accounts are a typical example, where a number of monthly and quarterly indicators of economic activity are used to calculate preliminary annual estimates of GDP. Using both simulated and real-life national accounts data, this paper aims at assessing the prediction accuracy of three benchmarking methods widely used in the national accounts compilation: the proportional Denton method, the proportional Cholette-Dagum method with first-order autoregressive error, and the regression-based Chow-Lin method. The results show that the Cholette-Dagum method provides the most accurate extrapolations when the indicator and the annual benchmarks move along the same trend. However, the Denton and Chow-Lin methods could prevail in real-life cases when the quarterly indicator temporarily deviates from the target series.
Author: Mr.Marco Marini
Publisher: International Monetary Fund
ISBN: 1475547943
Category : Business & Economics
Languages : en
Pages : 25
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Book Description
Benchmarking methods can be used to extrapolate (or “nowcast”) low-frequency benchmarks on the basis of available high-frequency indicators. Quarterly national accounts are a typical example, where a number of monthly and quarterly indicators of economic activity are used to calculate preliminary annual estimates of GDP. Using both simulated and real-life national accounts data, this paper aims at assessing the prediction accuracy of three benchmarking methods widely used in the national accounts compilation: the proportional Denton method, the proportional Cholette-Dagum method with first-order autoregressive error, and the regression-based Chow-Lin method. The results show that the Cholette-Dagum method provides the most accurate extrapolations when the indicator and the annual benchmarks move along the same trend. However, the Denton and Chow-Lin methods could prevail in real-life cases when the quarterly indicator temporarily deviates from the target series.
Author: Sergio Consoli
Publisher: Springer Nature
ISBN: 3030668916
Category : Application software
Languages : en
Pages : 357
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Book Description
This open access book covers the use of data science, including advanced machine learning, big data analytics, Semantic Web technologies, natural language processing, social media analysis, time series analysis, among others, for applications in economics and finance. In addition, it shows some successful applications of advanced data science solutions used to extract new knowledge from data in order to improve economic forecasting models. The book starts with an introduction on the use of data science technologies in economics and finance and is followed by thirteen chapters showing success stories of the application of specific data science methodologies, touching on particular topics related to novel big data sources and technologies for economic analysis (e.g. social media and news); big data models leveraging on supervised/unsupervised (deep) machine learning; natural language processing to build economic and financial indicators; and forecasting and nowcasting of economic variables through time series analysis. This book is relevant to all stakeholders involved in digital and data-intensive research in economics and finance, helping them to understand the main opportunities and challenges, become familiar with the latest methodological findings, and learn how to use and evaluate the performances of novel tools and frameworks. It primarily targets data scientists and business analysts exploiting data science technologies, and it will also be a useful resource to research students in disciplines and courses related to these topics. Overall, readers will learn modern and effective data science solutions to create tangible innovations for economic and financial applications.
Author: OECD
Publisher: OECD Publishing
ISBN: 9264043462
Category :
Languages : en
Pages : 162
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Book Description
A guide for constructing and using composite indicators for policy makers, academics, the media and other interested parties. In particular, this handbook is concerned with indicators which compare and rank country performance.
Author: Claudia Foroni
Publisher:
ISBN: 9783865587817
Category :
Languages : en
Pages : 0
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Book Description
Author: Mateusz Pipień
Publisher: Routledge
ISBN: 1000170969
Category : Business & Economics
Languages : en
Pages : 87
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Book Description
This book addresses one of the most important research activities in empirical macroeconomics. It provides a course of advanced but intuitive methods and tools enabling the spatial and temporal disaggregation of basic macroeconomic variables and the assessment of the statistical uncertainty of the outcomes of disaggregation. The empirical analysis focuses mainly on GDP and its growth in the context of Poland. However, all of the methods discussed can be easily applied to other countries. The approach used in the book views spatial and temporal disaggregation as a special case of the estimation of missing observations (a topic on missing data analysis). The book presents an econometric course of models of Seemingly Unrelated Regression Equations (SURE). The main advantage of using the SURE specification is to tackle the presented research problem so that it allows for the heterogeneity of the parameters describing relations between macroeconomic indicators. The book contains model specification, as well as descriptions of stochastic assumptions and resulting procedures of estimation and testing. The method also addresses uncertainty in the estimates produced. All of the necessary tests and assumptions are presented in detail. The results are designed to serve as a source of invaluable information making regional analyses more convenient and – more importantly – comparable. It will create a solid basis for making conclusions and recommendations concerning regional economic policy in Poland, particularly regarding the assessment of the economic situation. This is essential reading for academics, researchers, and economists with regional analysis as their field of expertise, as well as central bankers and policymakers.
Author: Mr. Paul A Austin
Publisher: International Monetary Fund
ISBN: 1616355433
Category : Business & Economics
Languages : en
Pages : 47
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Book Description
As the pandemic heigthened policymakers’ demand for more frequent and timely indicators to assess economic activities, traditional data collection and compilation methods to produce official indicators are falling short—triggering stronger interest in real time data to provide early signals of turning points in economic activity. In this paper, we examine how data extracted from the Google Places API and Google Trends can be used to develop high frequency indicators aligned to the statistical concepts, classifications, and definitions used in producing official measures. The approach is illustrated by use of Google data-derived indicators that predict well the GDP trajectories of selected countries during the early stage of COVID-19. To this end, we developed a methodological toolkit for national compilers interested in using Google data to enhance the timeliness and frequency of economic indicators.
Author: Mr.Adriaan M. Bloem
Publisher: International Monetary Fund
ISBN: 9781589060319
Category : Business & Economics
Languages : en
Pages : 230
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Book Description
This Manual provides guidance to compilers of national accounts on the concepts, data sources, and compilation methods required for development of a system of quarterly national accounts. More and more countries are recognizing that quarterly national accounts are an essential tool for management and analysis of their economy. The Manual is intended particularly for compilers who already have a knowledge of annual national accounting concepts and methods, and provides techniques for the development of a consistent time series of annual and quarterly accounts. It serves as acomplement to the System of National Accounts 1993, which has only a limited discussion of quarterly accounts, and will also prove useful as a tool for sophisticated users of quarterly national accounts.
Author: World Bank
Publisher: World Bank Publications
ISBN: 1464809623
Category : Business & Economics
Languages : en
Pages : 176
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Book Description
In 2013, the World Bank Group announced two goals that would guide its operations worldwide. First is the eradication of chronic extreme poverty bringing the number of extremely poor people, defined as those living on less than 1.25 purchasing power parity (PPP)†“adjusted dollars a day, to less than 3 percent of the world’s population by 2030.The second is the boosting of shared prosperity, defined as promoting the growth of per capita real income of the poorest 40 percent of the population in each country. In 2015, United Nations member nations agreed in New York to a set of post-2015 Sustainable Development Goals (SDGs), the first and foremost of which is the eradication of extreme poverty everywhere, in all its forms. Both the language and the spirit of the SDG objective reflect the growing acceptance of the idea that poverty is a multidimensional concept that reflects multiple deprivations in various aspects of well-being. That said, there is much less agreement on the best ways in which those deprivations should be measured, and on whether or how information on them should be aggregated. Monitoring Global Poverty: Report of the Commission on Global Poverty advises the World Bank on the measurement and monitoring of global poverty in two areas: What should be the interpretation of the definition of extreme poverty, set in 2015 in PPP-adjusted dollars a day per person? What choices should the Bank make regarding complementary monetary and nonmonetary poverty measures to be tracked and made available to policy makers? The World Bank plays an important role in shaping the global debate on combating poverty, and the indicators and data that the Bank collates and makes available shape opinion and actual policies in client countries, and, to a certain extent, in all countries. How we answer the above questions can therefore have a major influence on the global economy.
Author: C. James Hueng
Publisher: W.E. Upjohn Institute
ISBN: 0880996765
Category : Business & Economics
Languages : en
Pages : 133
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Book Description
Policymakers and business practitioners are eager to gain access to reliable information on the state of the economy for timely decision making. More so now than ever. Traditional economic indicators have been criticized for delayed reporting, out-of-date methodology, and neglecting some aspects of the economy. Recent advances in economic theory, econometrics, and information technology have fueled research in building broader, more accurate, and higher-frequency economic indicators. This volume contains contributions from a group of prominent economists who address alternative economic indicators, including indicators in the financial market, indicators for business cycles, and indicators of economic uncertainty.
