GDP++
GDP++ is a new measure for U.S. GDP growth, which results from a novel approach to data reconciliation, exploiting multiple data releases on each series.
This helps both with the identification of measurement errors and with optimally extracting information from multiple noisy but potentially informative series.
The GDP++ measure is shown to undergo smaller revisions on average than the GDP+ measure of Aruoba et al. (2016) or the simple average of GDE and GDI published by the BEA.
GDP++ also puts more weight on expenditure-side estimates than either of these other measures, consistent with the finding that historical decompositions of GDE and GDI measurement errors reveal a larger news share in GDE than in GDI.
external page See Jacobs, Sarferaz, Sturm and van Norden (2020) for a more detailed discussion.
Related content:
After the Trump election: why Switzerland now faces challenges
At the KOF Economic Forum, Stefan Brupbacher (Swissmem), Benno Keller (Switzerland Global Enterprise) and Hans Gersbach (KOF) discussed the question ‘Geopolitical tensions and bloc formations: does Switzerland need to realign itself?’. Moderated by Sina Freiermuth (SRF), an exciting debate developed on a highly topical subject.
Contact
KOF Konjunkturforschungsstelle
Leonhardstrasse 21
8092
Zürich
Switzerland