Analysis of revisions to quarterly GDP - a real-time database
Gross Domestic Product (GDP) is one of the key data series used by the Reserve Bank to inform monetary policy decisions. The measures of GDP, published by Statistics New Zealand (SNZ), are estimates rather than exact figures and may be revised in subsequent releases. Analysis of the most recent measures of GDP should incorporate the extent of uncertainty that surrounds these estimates. To enable a more detailed examination of revision patterns, the Reserve Bank has constructed a real-time database containing each quarterly release of Expenditure GDP (GDP(E)) and its components. The database is available to users on the Reserve Bank's website and will be regularly updated. This article provides an introduction to the database and, by way of example, presents a basic analysis of the revisions made to GDP(E) and its components.
Volume (Year): 69 (2006)
Issue (Month): (March)
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References listed on IDEAS
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- Anthony Garratt & Gary Koop & Shaun P. Vahey, 2006. "Forecasting Substantial Data Revisions in the Presence of Model Uncertainty," Reserve Bank of New Zealand Discussion Paper Series DP2006/02, Reserve Bank of New Zealand.
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1998-03, Board of Governors of the Federal Reserve System (U.S.).
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MIT Press, vol. 85(3), pages 605-617, August.
- Dean Croushore & Tom Stark, 1999. "A real-time data set for marcoeconomists: does the data vintage matter?," Working Papers 99-21, Federal Reserve Bank of Philadelphia.
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"News and Noise in G-7 GDP Announcements,"
Journal of Money, Credit and Banking,
Blackwell Publishing, vol. 37(3), pages 403-19, June.
- Carol S. Carson & Lucie LalibertÃ©, 2002. "Assessing Accuracy and Reliability; A Note Basedon Approaches Used in National Accounts and Balance of Payments Statistics," IMF Working Papers 02/24, International Monetary Fund.
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