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The Impact of Revisions of National Accounts on the Estimation of Derived Indicator

Dopad revizí v národních účtech na odhady odvozeného indikátoru

Jakub Fischer, Kristýna Vltavská and Igor Krejčí

Acta Oeconomica Pragensia, 2013, vol. 2013, issue 4, 20-33

Abstract: The paper is devoted to an analysis of the impact of historical revisions of national accounts by the Czech Statistical Office (CZSO) between 2010 and 2011. The theoretical part of the paper points out the importance of revisions of national accounts, describes the different types of revisions and summarises existing results of the revisions. The empirical part is devoted to an evaluation of the impact of the revisions on individual indicators entering the estimation of total factor productivity. While the level of hours worked was revised downwards, the level of fixed capital was revised upwards. Although the extent of revisions in the different years was not the same and there were also revisions of estimates of annual changes in the estimates of parameters entering TFP, the revisions of estimates of annual changes in overall productivity were not very significant, approximately a tenth of a percentage point. A significant change occurred only in the estimate for 2009. This happened not due to revisions, but using newer estimates of annual accounts for that year.

Keywords: capital stock; hours worked; national accounts; revision (search for similar items in EconPapers)
JEL-codes: E00 E22 E23 (search for similar items in EconPapers)
Date: 2013
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Redakce Acta Oeconomica Pragensia, Vysoká škola ekonomická v Praze, nám. W. Churchilla 4, 130 67 Praha 3

DOI: 10.18267/j.aop.408

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Handle: RePEc:prg:jnlaop:v:2013:y:2013:i:4:id:408:p:20-33