A real-time analysis of the Swiss trade account
AbstractFirst estimates of trade account statistics attract quite some attention in the media as they contain substantial information on recent economic developments. It is well known, however, that subsequent revisions of in particular this series can sometimes have substantial consequences for ex post evaluations of the economy. As a small open economy, Swiss overall growth as measured by its GDP is particularly prone for these revisions. This paper sets up a real-time dataset which is then used to analyze to what extent the first release of current account data (as compared to its revision) contains a structural bias and/or can be improved upon by the use of survey results as gathered by KOF at the ETH Zurich. If this is the case, this would allow for improvements in its future first release and thereby enhance the current assessment of the Swiss economy
Download InfoIf 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.
Bibliographic InfoPaper provided by Money Macro and Finance Research Group in its series Money Macro and Finance (MMF) Research Group Conference 2006 with number 167.
Date of creation: 02 Feb 2007
Date of revision:
Contact details of provider:
Web page: http://www.essex.ac.uk/afm/mmf/index.html
current account statistics; real-time analysis; data revision;
Find related papers by JEL classification:
- C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models &bull Diffusion Processes
- C53 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Forecasting and Prediction Models; Simulation Methods
- C82 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Macroeconomic Data; Data Access
This paper has been announced in the following NEP Reports:
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- N. Kundan Kishor & Evan F. Koenig, 2009.
"VAR Estimation and Forecasting When Data Are Subject to Revision,"
Journal of Business & Economic Statistics,
Taylor & Francis Journals, vol. 30(2), pages 181-190, July.
- N. Kundan Kishor & Evan F. Koenig, 2005. "VAR estimation and forecasting when data are subject to revision," Working Papers 0501, Federal Reserve Bank of Dallas.
- Howrey, E Philip, 1984. "Data Revision, Reconstruction, and Prediction: An Application to Inventory Investment," The Review of Economics and Statistics, MIT Press, vol. 66(3), pages 386-93, August.
- Faust, Jon & Rogers, John H & Wright, Jonathan H, 2005.
"News and Noise in G-7 GDP Announcements,"
Journal of Money, Credit and Banking,
Blackwell Publishing, vol. 37(3), pages 403-19, June.
- Bouwman, Kees E. & Jacobs, Jan P.A.M., 2005.
"Forecasting with real-time macroeconomic data: the ragged-edge problem and revisions,"
CCSO Working Papers
200505, University of Groningen, CCSO Centre for Economic Research.
- Bouwman, Kees E. & Jacobs, Jan P.A.M., 2011. "Forecasting with real-time macroeconomic data: The ragged-edge problem and revisions," Journal of Macroeconomics, Elsevier, vol. 33(4), pages 784-792.
- Aruoba, Boragan, 2005.
"Data Revisions Are Not Well-Behaved,"
CEPR Discussion Papers
5271, C.E.P.R. Discussion Papers.
- N. Gregory Mankiw & Matthew D. Shapiro, 1986. "News or Noise? An Analysis of GNP Revisions," NBER Working Papers 1939, National Bureau of Economic Research, Inc.
- Shaun Vahey & Tony Garratt, 2005.
"UK Real-time Macro Data Characteristics,"
Computing in Economics and Finance 2005
253, Society for Computational Economics.
- Howrey, E Philip, 1978. "The Use of Preliminary Data in Econometric Forecasting," The Review of Economics and Statistics, MIT Press, vol. 60(2), pages 193-200, May.
- Jan Jacobs & Jan-Egbert Sturm, 2004. "Do Ifo Indicators Help Explain Revisions in German Industrial Production?," CESifo Working Paper Series 1205, CESifo Group Munich.
- Alastair Cunningham & Jana Eklund & Christopher Jeffery & George Kapetanios & Vincent Labhard, 2007.
"A state space approach to extracting the signal from uncertain data,"
Bank of England working papers
336, Bank of England.
- Alastair Cunningham & Jana Eklund & Chris Jeffery & George Kapetanios & Vincent Labhard, 2009. "A State Space Approach to Extracting the Signal From Uncertain Data," Journal of Business & Economic Statistics, Taylor & Francis Journals, vol. 30(2), pages 173-180, March.
- Alastair Cunningham & Jana Eklund & Chris Jeffery & George Kapetanios & Vincent Labhard, 2009. "A State Space Approach to Extracting the Signal from Uncertain Data," Working Papers 637, Queen Mary, University of London, School of Economics and Finance.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Christopher F. Baum).
If references are entirely missing, you can add them using this form.