A Multi-Country Analysis of the Effects of Data Revisions on an Econometric Model
Abstract This study may be regarded as an empirical contribution to the subject of measurement error in economic statistics and its influence on econometric estimation. A small annual econometric model is specified and estimated using United Nations national accounts data for each of 21 countries for the period 1955–64. The model is fitted first to preliminary data and then to revised data. Changes in coefficient estimates and related statistics resulting from the data revisions are examined. The data revisions themselves are also examined from the point of view of their magnitude, direction, and inter-series correlation.