Seasonality in Revisions of Macroeconomic Data
April 2010
Article
volume 26, issue 2 pp 361-369.
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We analyze the revision history of quarterly and monthly (seasonally unadjusted) macroeconomic variables for the Netherlands, Ireland, Luxemburg and the United States, where we focus on the degree of deterministic seasonality in these revisions. We document that the data show most deterministic seasonality in the final revision. The first-release data and the in-between revisions show a variety of seasonal patterns. The consequences of these findings for the interpretation and modeling of macroeconomic data are discussed.
Keywords
Classifications using
Journal of Economic Literature (JEL) Classification System
- C82 : Methodology for Collecting, Estimating, and Organizing Macroeconomic Data
- C52 : Model Evaluation and Testing
- E20 : Consumption, Saving, Production, Employment, and Investment: General
- C32 : Time-Series Models; Dynamic Quantile Regressions
Automatically Extracted Terms
- seasonality
- revision
- release
- 2-2004q
- model
- value
- series
- 1-2006q
- 0.91
- table
- consumption
- parameter
- fi rst-release data
- fi rst release
- time series models
- 1-2007q
- statistic
- estimate
- quarter
- 0.93
