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Revisions Policy for Official Statistics: A Matter of Governance

Author

Listed:
  • Mrs. Carol S Carson
  • Mr. Sarmad Khawaja
  • Mr. Thomas K. Morrison

Abstract

This paper proposes a set of good practices for the revision of macroeconomic data. The authors argue that revisions are a routine part of disseminating quality data. Revisions are made not just to correct errors but also to incorporate better source data, update base periods, and make other improvements. It is argued, using country examples and views from policymakers and other users, that national statistical agencies should have explicit revisions policies.

Suggested Citation

  • Mrs. Carol S Carson & Mr. Sarmad Khawaja & Mr. Thomas K. Morrison, 2004. "Revisions Policy for Official Statistics: A Matter of Governance," IMF Working Papers 2004/087, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:2004/087
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    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=17379
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    References listed on IDEAS

    as
    1. Mrs. Carol S Carson & Ms. Lucie Laliberté, 2002. "Assessing Accuracy and Reliability: A Note Basedon Approaches Used in National Accounts and Balance of Payments Statistics," IMF Working Papers 2002/024, International Monetary Fund.
    2. David E. Runkle, 1998. "Revisionist history: how data revisions distort economic policy research," Quarterly Review, Federal Reserve Bank of Minneapolis, vol. 22(Fall), pages 3-12.
    3. Eisner, Robert, 1989. "Divergences of Measurement and Theory and Some Implications for Economic Policy," American Economic Review, American Economic Association, vol. 79(1), pages 1-13, March.
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    Cited by:

    1. Mr. Manik L. Shrestha & Mr. Marco Marini, 2013. "Quarterly GDP Revisions in G-20 Countries: Evidence from the 2008 Financial Crisis," IMF Working Papers 2013/060, International Monetary Fund.
    2. Kerner, Andrew & Crabtree, Charles, 2018. "The Political Economy of Data Production," SocArXiv qsxae, Center for Open Science.
    3. Jakub Fischer & Kristýna Vltavská & Igor Krejčí, 2013. "The Impact of Revisions of National Accounts on the Estimation of Derived Indicator [Dopad revizí v národních účtech na odhady odvozeného indikátoru]," Acta Oeconomica Pragensia, Prague University of Economics and Business, vol. 2013(4), pages 20-33.
    4. Ronney Ncwadi, 2016. "Assessing Efficiency of GDP Revisions in South Africa," Journal of Education and e-Learning Research, Asian Online Journal Publishing Group, vol. 3(2), pages 72-77.
    5. Mr. John Cady & Mr. Anthony J. Pellechio, 2005. "Data Consistency in IMF Publications: Country Staff Reports Versus International Financial Statistics," IMF Working Papers 2005/046, International Monetary Fund.

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