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Revisions Policy for Official Statistics; A Matter of Governance

Author

Listed:
  • Carol S Carson
  • Sarmad Khawaja
  • Thomas K. Morrison

Abstract

This paper proposes a set of good practices for the revision of macroeconomic data. The authors argue that revisions are a routine part of disseminating quality data. Revisions are made not just to correct errors but also to incorporate better source data, update base periods, and make other improvements. It is argued, using country examples and views from policymakers and other users, that national statistical agencies should have explicit revisions policies.

Suggested Citation

  • Carol S Carson & Sarmad Khawaja & Thomas K. Morrison, 2004. "Revisions Policy for Official Statistics; A Matter of Governance," IMF Working Papers 04/87, International Monetary Fund.
  • Handle: RePEc:imf:imfwpa:04/87
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    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=17379
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    References listed on IDEAS

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    1. David E. Runkle, 1998. "Revisionist history: how data revisions distort economic policy research," Quarterly Review, Federal Reserve Bank of Minneapolis, issue Fall, pages 3-12.
    2. Carol S Carson & Lucie Laliberté, 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.
    3. Eisner, Robert, 1989. "Divergences of Measurement and Theory and Some Implications for Economic Policy," American Economic Review, American Economic Association, vol. 79(1), pages 1-13, March.
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    Cited by:

    1. John Cady & Anthony J. Pellechio, 2005. "Data Consistency in IMF Publications; Country Staff Reports Versus International Financial Statistics," IMF Working Papers 05/46, International Monetary Fund.

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