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Revisions to Quarterly National Accounts data in Luxembourg

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  • Bob Krebs

Abstract

This study examines the revision histories of national accounts data in Luxembourg. I analyse first releases and revisions in the quarterly national accounts (QNA) published by the National Institute of Statistics (STATEC). Reliability is evaluated by measuring revision size, variability as well as the frequency in sign changes and acceleration/deceleration switches. In addition, the predictability of revisions is assessed by applying regression analysis. Overall, the results point to high uncertainty surrounding early QNA estimates, also in international comparison. I find that revisions to GDP and its components are substantial. While there is no clear evidence of a bias in year-on-year real GDP growth, this does not hold for some GDP components.

Suggested Citation

  • Bob Krebs, 2019. "Revisions to Quarterly National Accounts data in Luxembourg," BCL working papers 136, Central Bank of Luxembourg.
    • Handle: RePEc:bcl:bclwop:bclwp136
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    References listed on IDEAS

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    Cited by:

    1. Alban Moura, 2020. "LED: An estimated DSGE model of the Luxembourg economy for policy analysis," BCL working papers 147, Central Bank of Luxembourg.

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    More about this item

    Keywords

    National accounts data; real-time analysis; data revisions;
    All these keywords.

    JEL classification:

    • C82 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Macroeconomic Data; Data Access
    • E01 - Macroeconomics and Monetary Economics - - General - - - Measurement and Data on National Income and Product Accounts and Wealth; Environmental Accounts
    • E66 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General Outlook and Conditions

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