The Effects of Inflation and the Business Cycle on Revisions of Macroeconomic Data

Chris Bajada ()

No 110, Working Paper Series from Finance Discipline Group, UTS Business School, University of Technology, Sydney

Abstract: Although national accounts data provide the most comprehensive overview of economic activity, preliminary estimates are subject to much revision before they are regarded as reliable indicators. Oddly enough, the market acts on the preliminary estimates as though they were final and complete. Even though there exists a considerable international literature on the statistical properties of these revisions, little attention has been devoted to the effects of inflation and the business cycle on the size and direction of these early revisions. The aim of this paper is to provide the first known examination of these effects and to identify an optimal policy strategy to ensure the highest quality of data collection. This paper finds the optimal strategy to be a policy of low inflationary economic growth with an inflation target between 0 and 5%.

Keywords: inflation; busines cycles; revisions; national accounts (search for similar items in EconPapers)
JEL-codes: E31 E32 (search for similar items in EconPapers)
Pages: 18 pages
Date: 2001-01-01
References: View references in EconPapers View complete reference list from CitEc
Citations:

Published as: Bajada, C., 2002, "The Effects of Inflation and the Business Cycle on Revisions of Macroeconomic Data", Australian Economic Review, 35(3), 276-286.

Downloads: (external link)
http://www.finance.uts.edu.au/research/wpapers/wp110.pdf (application/pdf)
Our link check indicates that this URL is bad, the error code is: 500 Can't connect to www.finance.uts.edu.au:80 (A connection attempt failed because the connected party did not properly respond after a period of time, or established connection failed because connected host has failed to respond.)

Related works:
Journal Article: The Effects of Inflation and the Business Cycle on Revisions of Macroeconomic Data (2002)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:uts:wpaper:110

Access Statistics for this paper

More papers in Working Paper Series from Finance Discipline Group, UTS Business School, University of Technology, Sydney PO Box 123, Broadway, NSW 2007, Australia. Contact information at EDIRC.
Bibliographic data for series maintained by Duncan Ford ().