Revisions to Czech National Accounts: Properties and Predictability
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216208%3A11230%2F13%3A10156075" target="_blank" >RIV/00216208:11230/13:10156075 - isvavai.cz</a>
Result on the web
<a href="http://journal.fsv.cuni.cz/storage/1275_244-61---rusnak.pdf" target="_blank" >http://journal.fsv.cuni.cz/storage/1275_244-61---rusnak.pdf</a>
DOI - Digital Object Identifier
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Alternative languages
Result language
angličtina
Original language name
Revisions to Czech National Accounts: Properties and Predictability
Original language description
Frequent revisions to GDP and its components cause policymakers to face considerable uncertainty about the current state of the economy. In this paper, we provide stylized facts about the magnitude of revisions to the Czech national accounts. Using dataover the 2003-2012 period, we find that the revisions are rather large. Revisions to real GDP growth are on average 1.4 for the annualized quarterly growth rate and 0.7 percentage points for the annual growth rate. Revisions to other variables are even larger: the average size of the revisions ranges from 1 to 12 percentage points for annualized quarterly growth rates and from 0.5 to 4 percentage points for annual growth rates. We investigate whether the revisions could have been predicted using the information available at the time of announcement. We find evidence for in-sample predictability for most of the variables, suggesting that the first releases of these variables are not efficient predictors of the actual values. In a real-ti
Czech name
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Czech description
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Classification
Type
J<sub>x</sub> - Unclassified - Peer-reviewed scientific article (Jimp, Jsc and Jost)
CEP classification
AH - Economics
OECD FORD branch
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Result continuities
Project
<a href="/en/project/GAP402%2F12%2F1993" target="_blank" >GAP402/12/1993: Quantitative Modelling of Monetary and Fiscal Policies after the Crisis</a><br>
Continuities
S - Specificky vyzkum na vysokych skolach
Others
Publication year
2013
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Name of the periodical
Finance a úvěr
ISSN
0015-1920
e-ISSN
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Volume of the periodical
63
Issue of the periodical within the volume
3
Country of publishing house
CZ - CZECH REPUBLIC
Number of pages
18
Pages from-to
244-261
UT code for WoS article
000321815500002
EID of the result in the Scopus database
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