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Revisions analysis: A time series approach
This article uses a time-series econometrics approach to study revisions to GDP, broken down by the stage of the production process.
This article outlines a time-series based methodology for studying revisions, based on the forecast efficiency methodology developed by Mincer and Zarnowitz (1969).
The data used is consistent with that used in the article by Akritidis in Economic Trends, December 2003 and breaks down the GDP production process by stage. We find that while the total revision is predictable, of the individual production stages, only the long run revisions occurring after the Blue Book Two stage are predictable.
Published in web format: 8 December 2003 at 9:30 am
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