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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

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

  • Czech description

Classification

  • Type

    J<sub>x</sub> - Unclassified - Peer-reviewed scientific article (Jimp, Jsc and Jost)

  • CEP classification

    AH - Economics

  • OECD FORD branch

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

  • 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