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An Analysis of Residual Error in the Quarterly National Accounts of the U.K

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  • John McDonald

Abstract

The Residual Error item in the National Accounts is the difference between the largely independent estimates of G.D.P. from income and expenditure sources. In the paper an analysis is made of the Residual Error at the quarterly level. its behaviour does not correspond to that of a realization from a white noise source but exhibits seasonal characteristics. These are summarized by fitting an autoregressive moving average model to the series. The effect of revisions on the Residual Error series is examined and an analysis is made of the Residual Error series constructed from seasonally adjusted data.

Suggested Citation

  • John McDonald, 1973. "An Analysis of Residual Error in the Quarterly National Accounts of the U.K," Journal of the Royal Statistical Society Series C, Royal Statistical Society, vol. 22(3), pages 354-367, November.
    • Handle: RePEc:bla:jorssc:v:22:y:1973:i:3:p:354-367
    DOI: 10.2307/2346783
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    Cited by:

    1. Christopher Bajada, 2001. "An Examination of the Statistical Discrepancy and Private Investment Expenditure," Journal of Applied Economics, Universidad del CEMA, vol. 4, pages 27-61, May.
    2. Davidson, J. E. H., 1975. "Errors-In,-Variables Estimation Using Extraneous Information: An Application Of Weighted Regression To The U.K. Consumption Function," Economic Research Papers 268976, University of Warwick - Department of Economics.
    3. Davidson, J.E.H, 1975. "Errors-in-Variables Estimation Using Extraneous Information : An Application of Weighted Regression to the U.K. Consumption Function," The Warwick Economics Research Paper Series (TWERPS) 78, University of Warwick, Department of Economics.

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