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Specifically they analyze the effect of revision errors on short-run monetary policy in the US.
They are about the standard errors of the preliminary estimator of the permanent component total and revision errors.
Reassuring enough they also found that revision errors, although large, had a small effect on the setting of the targets.
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The item called "Variance of the revision error" contains the variance of the revision error after additional time has passed.
Under the heading "Percentage reduction in the standard error of the revision", the output contains the percentage of reduction of the variance of the revision error after additional time has passed.
SEATS Table 5.1 (item 35 in Table 9) shows the period-to-period growth estimation error variance for the concurrent estimator, so the first differences of the final estimation error, the revision error and the total estimation error.
The total estimation error of the concurrent estimator (t_{t}) defined by (4.13) is the sum of the final estimation error (f_{t}) and of the revision error (r_{t}), which are uncorrelated.
Computation of the standard errors of the total error, obtained by adding (V_{f}=0.01095) to the variance of the revision error, can be seen in cells BS63 to CA71.
It is started with the final estimation error, the only one that counts for an observation near the middle of the series, and the revision error, which is due on the arrival of a new observation.
For period 0, the number 0.05235 which can be seen in cell AV6 is the square root of the variance of revision error (V_{r}=0.00274) in cell AT6 already mentioned in cell AJ36.
SEATS Table 5.4 (item 38 in Table 10) shows the annual growth estimation error variance for the concurrent estimator, which is a first seasonal difference of the final estimation error, the sum of the revision error and the total estimation error.
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