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Title: The limits of statistical information: How important are GDP revisions in Italy?
Authors: Lupi, Claudio
Peracchi, Franco
Keywords: Data revisions
National accounts
Real-time datasets.
Issue Date: 6-Jun-2003
Abstract: The use of Gross Domestic Product (GDP) as a summary measure of the level of economic activity is pervasive in empirical economics, policy analysis and forecasting. This pervasive role of GDP and its nature of "public good" raises obvious problems of timeliness and accuracy of the data. A striking feature of GDP data (and, more generally, of all national accounts figures) is the presence of "data vintages". That is, the GDP estimate for a specific year or quarter is subject to several revi
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