05562oam 22011294 450 991080728770332120240402045334.01-4755-5891-01-4755-3464-7(CKB)2670000000278850(EBL)1606822(SSID)ssj0000943221(PQKBManifestationID)11503274(PQKBTitleCode)TC0000943221(PQKBWorkID)10975616(PQKB)10666785(MiAaPQ)EBC1606822(Au-PeEL)EBL1606822(CaPaEBR)ebr10627071(OCoLC)797981387(IMF)WPIEE2012169(IMF)WPIEA2012169(EXLCZ)99267000000027885020020129d2012 uf 0engur|n|---|||||txtccrOn the Extrapolation with the Denton Proportional Benchmarking Method /Marco Marini, Tommaso Di Fonzo1st ed.Washington, D.C. :International Monetary Fund,2012.1 online resource (22 p.)IMF Working PapersDescription based upon print version of record.1-4755-9105-5 1-4755-0517-5 Includes bibliographical references.Cover; Abstract; Contents; I. Introduction; II. The Denton PFD Benchmarking Method; III. The Enhanced Denton PFD Method for Extrapolation; A. An Approximation of the Enhanced PFD Method; IV. An Example with Artificial Data; Tables; 1. Extrapolation Using Forecast BI Ratios (Example 6.2, QNA Manual, 2001); 2. Enhanced Denton PFD: Comparison Between the Shortcut and the Analytical Solution; 3. Enhanced Denton PFD: Comparison with the Indicator Series; 4. Basic Denton PFD vs. Enhanced Denton PFD: MSD of Quarterly Growth Rates5. Enhanced Denton PFD: Comparison Between the Analytical Solution and the Shortcut Version with Different BI RatiosV. An Application to Real-Life Data; 6. Forecasting Manufacturing Value Added in 2009 Using IPI: a Comparison Between PFD and EPFD; VI. Conclusions; ReferencesStatistical offices have often recourse to benchmarking methods for compiling quarterly national accounts (QNA). Benchmarking methods employ quarterly indicator series (i) to distribute annual, more reliable series of national accounts and (ii) to extrapolate the most recent quarters not yet covered by annual benchmarks. The Proportional First Differences (PFD) benchmarking method proposed by Denton (1971) is a widely used solution for distribution, but in extrapolation it may suffer when the movements in the indicator series do not match consistently the movements in the target annual benchmarks. For this reason, an enhanced formula for extrapolation was recommended by the IMF’s Quarterly National Accounts Manual: Concepts, Data Sources, and Compilation (2001). We discuss the rationale behind this technique, and propose a matrix formulation of it. In addition, we present applications of the enhanced formula to artificial and real-life benchmarking examples showing how the extrapolations for the most recent quarters can be improved.IMF Working Papers; Working Paper ;No. 2012/169Benchmarking (Management)Managerial accountingMacroeconomicsimfIndustries: GeneralimfIndustries: ManufacturingimfTime-Series ModelsimfDynamic Quantile RegressionsimfDynamic Treatment Effect ModelsimfDiffusion ProcessesimfOptimization TechniquesimfProgramming ModelsimfDynamic AnalysisimfMethodology for Collecting, Estimating, and Organizing Macroeconomic DataimfData AccessimfGeneral Aggregative Models: GeneralimfIndustry Studies: Manufacturing: GeneralimfMacroeconomics: ProductionimfManufacturing industriesimfNational accountsimfManufacturingimfIndustrial productionimfNational incomeimfIndustriesimfKorea, Republic ofimfBenchmarking (Management)Managerial accounting.MacroeconomicsIndustries: GeneralIndustries: ManufacturingTime-Series ModelsDynamic Quantile RegressionsDynamic Treatment Effect ModelsDiffusion ProcessesOptimization TechniquesProgramming ModelsDynamic AnalysisMethodology for Collecting, Estimating, and Organizing Macroeconomic DataData AccessGeneral Aggregative Models: GeneralIndustry Studies: Manufacturing: GeneralMacroeconomics: ProductionManufacturing industriesNational accountsManufacturingIndustrial productionNational incomeIndustries300Marini Marco734096Di Fonzo Tommaso148119DcWaIMFBOOK9910807287703321On the Extrapolation with the Denton Proportional Benchmarking Method4092787UNINA