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REVISION POLICY OF SEASONALLY ADJUSTED SERIES – CASE STUDY ON ROMANIAN QUARTERLY GDP

Andreea Mirica (), Tudorel Andrei (), Elena-Doina Dascălu (), George-Ioan MINCU Rădulescu () and Ionela-Roxana Glăva ()
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Elena-Doina Dascălu: “Spiru-Haret” University and Romanian Court of Accounts, Bucharest
Ionela-Roxana Glăva: The Bucharest University of Economic Studies

ECONOMIC COMPUTATION AND ECONOMIC CYBERNETICS STUDIES AND RESEARCH, 2016, vol. 50, issue 3, 45-62

Abstract: Seasonally adjusted data may change due to a revision of the unadjusted (raw) data or the addition of new data. These changes are called revisions and one of the key challenges for the National Statistical Offices is to balance the trade-off between the need for the best possible seasonally adjusted data, especially at the end of the series – the accuracy of seasonally adjusted data – and the need to avoid insignificant revisions that may later be reversed – series stability over time (Eurostat, 2015a, van Velsen et.al 2011). Thus, designing an accurate and transparent revision policy is mandatory for any Official Statistical Office. This policy should contain: method and software choice for seasonal adjustment, dissemination and storage, methods and timing of reanalysis and revisions, means of aggregation of series, treatment of outliers, requirements for documentation both internal and for users, guidelines for releasing seasonally adjusted data (UNECE, 2012a). This study focuses of the revision policy of seasonal adjustment procedure of the Romanian Quarterly GDP (constant prices 2000). The calculations were performed using JDemetra+ v. 2.0, the official software (Eurostat, 2015b).

Keywords: Seasonal adjustment; GDP; revision policy; JDemetra (search for similar items in EconPapers)
JEL-codes: C5 (search for similar items in EconPapers)
Date: 2016
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