The mismeasured personal saving rate is still useful: using real-time data to improve forecasting

Leonard I. Nakamura

Business Review, 2008, issue Q4, pages 9-20

Abstract: People make decisions based on information. Often, with hindsight, they could have made better choices. Economics faces a similar problem: Economic data, when first released, are often inaccurate and may subsequently be revised. In "The Mismeasured Personal Saving Rate Is Still Useful: Using Real-Time Data to Improve Forecasting," Leonard Nakamura uses the U.S. personal saving rate ? a statistic that has often been initially low, then substantially revised upward ? to discuss how modern economic statistical techniques can improve forecasting.

Keywords: Forecasting; Real-time data (search for similar items in EconPapers)
Date: 2008

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