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Forecasting Using First-Available Versus Fully Revised Economic Time-Series Data
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Norman Swanson
Published/Copyright:
April 1, 1996
First-reported monthly and quarterly time-series data on nine macroeconomic variables from 1960-1993 are given. Features of this so-called "unrevised" or "first-reported data" are discussed, and the data is compared with standard "fully revised" data using Granger causality tests. For the purposes of real-time forecasting, as well as comparing professional forecasts with traditional econometric forecasts, the use of unrevised (or, even better, "real-time") data has a number of advantages over the use of fully revised data.
Published Online: 1996-4-1
©2011 Walter de Gruyter GmbH & Co. KG, Berlin/Boston
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Articles in the same Issue
- Article
- On Cycles and Chaos in Economics
- Power Properties of Linearity Tests for Time Series
- Optimal Cycles and Chaos: A Survey
- Algorithm
- Estimation of the Stochastic Volatility Models by Simulated Maximum Likelihood: C++ Code
- Replication
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- Data Set
- Forecasting Using First-Available Versus Fully Revised Economic Time-Series Data
