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Record W1488344919

The need for high frequency data: estimating monthly GDP

2009· preprint· en· W1488344919 on OpenAlexaboutno aff
George Constantinescu

Bibliographic record

VenueRePEc: Research Papers in Economics · 2009
Typepreprint
Languageen
FieldEconomics, Econometrics and Finance
TopicMonetary Policy and Economic Impact
Canadian institutionsnot available
Fundersnot available
KeywordsInflation (cosmology)Gross domestic productEconometricsEconomicsQuarter (Canadian coin)UnemploymentKalman filterSample (material)Real gross domestic productSeasonal adjustmentStatisticsMacroeconomicsMathematicsGeography
DOInot available

Abstract

fetched live from OpenAlex

Real Gross Domestic Product is usually computed at quarterly intervals, which makes it uncomfortable to introduce into different types of macroeconomic models, that usually make use of higher frequency data (monthly, weekly) such as inflation, interest and unemployment. Analysts and decision makers may also want to evaluate a close evolution of the aggregated national output, especially during the economic slowdown periods, just as the one which has spread almost worldwide. Moreover, it is well known that the capability of correctly identifying the short-term pattern of an economic phenomenon is directly linked to the frequency of available observations.For economic studies using quarterly data, a low number of observations can cause serious flaws in the quality of quantitative analysis, without even considering the situations when many degrees of freedom are used up in the estimation, this way drastically reducing its power. Another limitation stands in the short sample size for developing countries as result of deep structural changes that occurred in the past couple of decades. One way around this problem is to estimate higher frequency series, using information from the low frequency GDP series and some related series. The paper illustrates and evaluates a Kalman filtering method for forecasting the seasonally adjusted Romanian real GDP at monthly intervals. However the present mixed-frequency method produces monthly GDP forecasts for the first two months of a quarter ahead which are more accurate than one-quarter-ahead GDP forecast based on purely-quarterly data. The purpose of this paper is to achieve this temporarily desegregation for Romanian dates and show few possible applications of these results, such as testing an eventual existence of Taylor Rule based monetary policy among the Central Banks of five economies.

Fetched live from OpenAlex and de-inverted. Abstracts are not stored in this database: the inverted indexes are 8.6 GB of the frame’s 9.3 GB of text, and the host has 13 GB free.

How this classification was reachedexpand

Full frame machine prediction

Teacher imitation

Not calibrated prevalence, not ground truth. Human validation pending. The Gemma side is a direct model label for every work in the frame, read from the title-only record. The Codex side is a classifier learned from the 10,348 direct Codex labels and calibrated to design-weighted sample rates; fields without enough sample support carry no Codex call. Candidate is the union of the two sides; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels.

metaresearch head score (Codex)0.002
metaresearch head score (Gemma)0.017
Version: metacan-v3-hybrid-931329e0061cValidation status: machine_predicted_unvalidated
Candidate categoriesnone
Consensus categoriesnone
DomainCandidate signal: none · Consensus signal: none
Study designCandidate signal: Simulation or modeling · Consensus signal: none
GenreCandidate signal: Empirical · Consensus signal: none
Teacher disagreement score0.005
Threshold uncertainty score0.013

Distilled classifier scores by category (both heads)

CategoryCodexGemma
Metaresearch0.0020.017
Meta-epidemiology (narrow)0.0000.000
Meta-epidemiology (broad)0.0010.000
Bibliometrics0.0010.003
Science and technology studies0.0000.000
Scholarly communication0.0010.002
Open science0.0010.001
Research integrity0.0010.001
Insufficient payload (model declined to judge)0.0040.002

Machine scores (provisional)

The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.

Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.

Opus teacher head0.142
GPT teacher head0.329
Teacher spread0.187 · how far apart the two teachers sit on this one work
Validation statusscore_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from it

Classification

machine, unvalidated

Machine predicted; a candidate call from one source (direct Gemma or distilled Codex), not a consensus.

The models applied no category: nothing in the taxonomy fit this work.
Study designSimulation or modeling
Domainnot available
GenreEmpirical

How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".

Quick stats

Citations0
Published2009
Admission routes1
Has abstractyes

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