Ivan Šošić () (Faculty of Economics and Business, University of Zagreb) Vlasta Bahovec () (Faculty of Economics and Business, University of Zagreb) Mirjana Čižmešija () (Faculty of Economics and Business, University of Zagreb) Nataša Kurnoga Živadinović () (Faculty of Economics and Business, University of Zagreb)
Abstract
There are two approaches to seasonal adjustment of an aggregate time series: direct and indirect one. Direct seasonal adjustment is obtained by applying the seasonal adjustment to the aggregate series while indirect adjustment is aggregation of seasonally adjusted sub-components. Except under very restrictive conditions, these two approaches usually produce different results. In this paper some of aggregate economic time series of the Croatian Central Bureau of Statistics were directly and indirectly seasonally adjusted using TRAMO/SEATS, X-12-ARIMA and DAINTIES. The aim of this paper is to investigate differences between growth rates in the direct and indirect adjusted series. Growth rates are of the most important pieces of information in the analysis of economic activity. It can be concluded that the indirect approach should be preferred, especially if components of aggregate series do not have similar seasonal properties.
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Publisher Info
Paper provided by Faculty of Economics and Business, University of Zagreb in its series EFZG Working Papers Series with number
0611.
Find related papers by JEL classification: C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions C82 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Macroeconomic Data C88 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Other Computer Software
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