Data Revisions and the Output Gap

Number: 
642
Published: 
Classification JEL: 
C22, C53, C82
Keywords: 
Human capital agglomeration, Social returns, Private returns, Externalities, Uncertainty, Fiscal policy

Preliminary and delayed Colombian GDP reports are replaced with optimal in-sample now-casts of "true" GDP figures derived from a model for data revisions. The new GDP time series is augmented with optimal out-of-sample forecasts and back-casts of the "tru