Abstract

First-reported monthly and quarterly time-series data on nine macroeconomic variables from 1960-1993 are given. Features of this so-called "unrevised" or "first-reported data" are discussed, and the data is compared with standard "fully revised" data using Granger causality tests. For the purposes of real-time forecasting, as well as comparing professional forecasts with traditional econometric forecasts, the use of unrevised (or, even better, "real-time") data has a number of advantages over the use of fully revised data.

Recommended Citation

Swanson, Norman (1996) "Forecasting Using First-Available Versus Fully Revised Economic Time-Series Data," Studies in Nonlinear Dynamics & Econometrics: Vol. 1 : Iss. 1, Article 1.
Available at: http://www.bepress.com/snde/vol1/iss1/dataset1

Related Files

swanson.dat (19 kB)
Data