Economic statistics are often taken as given facts, assumed to describe exactly, actual phenomena in society. Many economic series are published in various forms from preliminary, via revisions to definitive estimates. Preliminary series are issued for a number of central economic processes in order to allow for rapid, up-to-date signals. This dissertation focuses on qualitative aspects of available data, and effects of possible inaccuracy when data are used for economic modelling, analysis and planning. Four main questions are addressed: How to characterize quality of data for central economic time series? What effects may possible inaccuracies in data have when used in econometric modelling? What effects do inaccuracies and errors in data have when models are used for economic analysis and planning? Is it possible to specify a criterion for deciding the cost-effective quality of data to be produced as input for economic policy analysis? The various realizations of economic variables often show considerable systematic as well as stochastic discrepancies for the same quantity. Preliminary series are generally found to be of questionable quality, but still considerably better than simple trend forecasts. Compared with the situation in a few other industrialized countries, the variability of Swedish economic statistics is, though, not extraordinary. Illustrations of effects of using inaccurate data, especially of combining preliminary, revised and definitive observations in the same model, are presented. Such inconsistent combinations of various realizations are in actual fact found in many open sources. Inclusion of preliminary series tends to indicate stronger changes in the economy than when definite observations are used throughout. The study is concluded with a section on cost-benefit aspects of economic statistics, and a sketch model for appraising data of variable quality is proposed. / Diss. Stockholm : Handelshögsk.
| Identifer | oai:union.ndltd.org:UPSALLA1/oai:DiVA.org:hhs-903 |
| Date | January 1992 |
| Creators | Eklöf, Jan A. |
| Publisher | Handelshögskolan i Stockholm, Ekonomisk Statistik (ES), Stockholm : Economic Research Institute, Stockholm School of Economics [Ekonomiska forskningsinstitutet vid Handelshögsk.] (EFI) |
| Source Sets | DiVA Archive at Upsalla University |
| Language | English |
| Detected Language | English |
| Type | Doctoral thesis, monograph, info:eu-repo/semantics/doctoralThesis, text |
| Format | application/pdf |
| Rights | info:eu-repo/semantics/openAccess |
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