English, Article edition: Through a glass, darkly: how data revisions complicate monetary policy Evan F. Koenig

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Physical Description
  • article
Language
  • English

Edition details

Title
  • Through a glass, darkly: how data revisions complicate monetary policy
Author
  • Evan F. Koenig
Physical Description
  • article
Notes
  • Government statistical releases initially provide only a dim and distorted view of the economy. As more complete and more accurate data are assembled, our knowledge improves. But policymakers don’t have the luxury of waiting until all is revealed. Meanwhile, there is danger that they will misinterpret what they see. ; This presentation reviews the different types of data revisions, provides evidence on the reliability of several important economic data series, illustrates how analysis that neglects data revisions can lead policymakers and forecasters astray, and makes suggestions for how to cope with data that are subject to revision.
  • Monetary policy ; Statistics ; Statistical methods
  • RePEc:fip:feddin:y:2006:i:sep
  • Employment ; Inflation (Finance) ; Productivity ; Personal Consumption Expenditures Price Index ; Federal Reserve banks ; Consumer price indexes ; Gross domestic product ; Greenspan, Alan
  • RePEc:fip:feddel:y:2006:i:dec:n:v.1.no.12
Language
  • English
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