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Revision Policy Of Seasonally Adjusted Series – Case Study On Romanian Quarterly Gdp

Author

Listed:
  • Andreea MIRICĂ
  • Tudorel ANDREI

    (The Bucharest University of Economic Studies)

  • Elena-Doina DASCĂLU

    (“Spiru-Haret” University and Romanian Court of Accounts, Bucharest)

  • George-Ioan MINCU RĂDULESCU
  • Ionela-Roxana GLĂVA

    (The Bucharest University of Economic Studies)

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).

Suggested Citation

  • Andreea MIRICĂ & Tudorel ANDREI & Elena-Doina DASCĂLU & George-Ioan MINCU RĂDULESCU & Ionela-Roxana GLĂVA, 2016. "Revision Policy Of Seasonally Adjusted Series – Case Study On Romanian Quarterly Gdp," ECONOMIC COMPUTATION AND ECONOMIC CYBERNETICS STUDIES AND RESEARCH, Faculty of Economic Cybernetics, Statistics and Informatics, vol. 50(3), pages 45-62.
    • Handle: RePEc:cys:ecocyb:v:50:y:2016:i:3:p:45-62
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    References listed on IDEAS

    as
    1. Franses,Philip Hans & Dijk,Dick van & Opschoor,Anne, 2014. "Time Series Models for Business and Economic Forecasting," Cambridge Books, Cambridge University Press, number 9780521520911, September.
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    More about this item

    Keywords

    Seasonal adjustment; GDP; revision policy; JDemetra;
    All these keywords.

    JEL classification:

    • C5 - Mathematical and Quantitative Methods - - Econometric Modeling

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