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.
File(s): File format is application/pdf http://www.philadelphiafed.org/research-and-data/publications/business-review/2008/q4/brq408_mismeasured-personal-saving-rate.pdf
Provider: Federal Reserve Bank of Philadelphia
Part of Series: Business Review
Publication Date: 2008