Abstract
We compiled, as part of a research project of Bank of Russia, a database on the revisions of a large set of short-term economic indicators and published it on the Bank of Russia website. The Research and Forecasting Department of the Bank of Russia plans to update this database in the future. We also perform an illustrative analysis of the properties of the revisions for a number of indicators. The preliminary results of this work indicate that the magnitude of the revisions is in many cases substantial.
Highlights
Monetary policy decisions are made on the basis of a large set of economic indicators
The Research and Forecasting Department of the Bank of Russia plans to update this database in the future
Vintage data are obtained from Rosstat's monthly informational and analytical materials ‘Short-term Economic Indicators of the Russian Federation’ (SEIs), which offer monthly, quarterly and annual data on the socioeconomic situation, including industrial, price, financial and social statistics1
Summary
The authors would like to extend their gratitude to Vladimir Bessonov for the data provided, to Tatiana Sytina for her assistance in compiling the database, and to Yekaterina Ivanushkina, Pavel Marchenko and Denis Shibitov for their assistance in verifying the data. The Bank of Russia’s Working Paper Series is subject to blind review by members of the Bank of Russia Advisory Board members and external reviewers. Address: 12 Neglinnaya Street, 107016 Moscow Tel.: +7 495 771 91 00, +7 495 621 64 65 (fax)
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