Journal Article

The mismeasured personal saving rate is still useful: using real-time data to improve forecasting

Abstract: People make decisions based on information. Often, with hindsight, they could have made better choices. Economics faces a similar problem: Economic data, when first released, are often inaccurate and may subsequently be revised. In \\"The Mismeasured Personal Saving Rate Is Still Useful: Using Real-Time Data to Improve Forecasting,\\" Leonard Nakamura uses the U.S. personal saving rate - a statistic that has often been initially low, then substantially revised upward - to discuss how modern economic statistical techniques can improve forecasting.

Keywords: Real-time data; Forecasting;

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Bibliographic Information

Provider: Federal Reserve Bank of Philadelphia

Part of Series: Business Review

Publication Date: 2008

Issue: Q4

Pages: 9-20