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.

real time data, seasonality
Time-Series Models; Dynamic Quantile Regressions (jel C32), Model Evaluation and Testing (jel C52), Methodology for Collecting, Estimating, and Organizing Macroeconomic Data (jel C82), Consumption, Saving, Production, Employment, and Investment: General (jel E20)
Econometric Institute Reprint Series
Journal of Official Statistics: an international quarterly
Erasmus School of Economics

Franses, Ph.H.B.F, & Segers, R. (2010). Seasonality in Revisions of Macroeconomic Data. Journal of Official Statistics: an international quarterly, 26(2), 361–369. Retrieved from http://hdl.handle.net/1765/23954