Advanced Search
MyIDEAS: Login to save this article or follow this journal

Forecastable Money-Growth Revisions: A Closer Look at the Data

Contents:

Author Info

  • Knut Anton Mork
Registered author(s):

    Abstract

    The data for preliminary and revised U.S. money-growth data are reexamined. The findings contrast with those of the previous literature, which has concluded that the data revisions behave like classical measurement errors. This paper finds that the revisions are forecastable, which contradicts the random-measurement hypothesis as well as the efficient-forecast hypothesis. Although ill behaved in this manner, it is possible that the announcements represent observations rather than forecasts; however, the evidence suggests that they are a mixture of the two. This finding offers a potential explanation for the failure of the data to show significant real effects of money-growth revisions.

    Download Info

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
    File URL: http://links.jstor.org/sici?sici=0008-4085%28199008%2923%3A3%3C593%3AFMRACL%3E2.0.CO%3B2-D
    Download Restriction: only available to JSTOR subscribers

    As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.

    Bibliographic Info

    Article provided by Canadian Economics Association in its journal Canadian Journal of Economics.

    Volume (Year): 23 (1990)
    Issue (Month): 3 (August)
    Pages: 593-616

    as in new window
    Handle: RePEc:cje:issued:v:23:y:1990:i:3:p:593-616

    Contact details of provider:
    Postal: Canadian Economics Association Prof. Steven Ambler, Secretary-Treasurer c/o Olivier Lebert, CEA/CJE/CPP Office C.P. 35006, 1221 Fleury Est Montréal, Québec, Canada H2C 3K4
    Email:
    Web page: http://economics.ca/cje/
    More information through EDIRC

    Order Information:
    Email:
    Web: http://economics.ca/en/membership.php

    Related research

    Keywords:

    References

    No references listed on IDEAS
    You can help add them by filling out this form.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as in new window

    Cited by:
    1. S. Boragan Aruoba, 2008. "Data Revisions Are Not Well Behaved," Journal of Money, Credit and Banking, Blackwell Publishing, Blackwell Publishing, vol. 40(2-3), pages 319-340, 03.
    2. Fabrice Collard & Harris Dellas, 2010. "Monetary Misperceptions, Output, and Inflation Dynamics," Journal of Money, Credit and Banking, Blackwell Publishing, Blackwell Publishing, vol. 42(2-3), pages 483-502, 03.
    3. Jacobs, Jan P.A.M. & van Norden, Simon, 2011. "Modeling data revisions: Measurement error and dynamics of "true" values," Journal of Econometrics, Elsevier, Elsevier, vol. 161(2), pages 101-109, April.
    4. Paolo Pasquariello & Clara Vega, 2006. "Informed and strategic order flow in the bond markets," International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) 874, Board of Governors of the Federal Reserve System (U.S.).

    Lists

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    Statistics

    Access and download statistics

    Corrections

    When requesting a correction, please mention this item's handle: RePEc:cje:issued:v:23:y:1990:i:3:p:593-616. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Prof. Werner Antweiler).

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.