Modeling Data Revisions

Borradores de Economia
Number: 
641
Published: 
Classification JEL: 
C22, C53, C82
Keywords: 
Human capital agglomeration, Social returns, Private returns, Externalities, Uncertainty, Fiscal policy

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Juan Esteban Carranza-Romero, Alejandra González-Ramírez, Mauricio Villamizar-Villegas

A dynamic linear model for data revisions and delays is proposed. This model extends Jacobs y Van Norden's [13] in two ways. First, the "true" data series is observable up to a fixed period of time M. And second, preliminary figures might be biased estima