A Monthly Regional Indicator of Economic Activity: An Application for Latin America
The study developed by Stock and Watson (1991) has served as a catalyst for the construction of monthly indicators of economic activity. However, its application has been focused on national statistics. In this article we develop a new empirical strategy of three steps to build regional economic ind...
| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
| Published: |
Cambridge University Press
2017-10-01
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| Series: | Latin American Research Review |
| Online Access: | https://larrlasa.org/articles/38 |
| Summary: | The study developed by Stock and Watson (1991) has served as a catalyst for the construction of monthly indicators of economic activity. However, its application has been focused on national statistics. In this article we develop a new empirical strategy of three steps to build regional economic indicators on a monthly basis that can be replicated in provinces or municipalities in Latin America. We apply this empirical strategy to develop the Monthly Indicator of Economic Activity (in Spanish, IMAE) for one of the main regions of Colombia: Valle del Cauca. El estudio desarrollado por Stock y Watson (1991) ha servido de catalizador para la construcción de indicadores mensuales de la actividad económica. Sin embargo, su aplicación se ha centrado en las estadísticas nacionales. En este artículo desarrollamos una estrategia empírica de tres pasos para la construcción de indicadores de actividad económica mensuales regionales que pueden ser replicados en provincias o municipios de América Latina. Dicha estrategia empírica la empleamos en la construcción del Indicador Mensual de Actividad Económica (IMAE) en una de las principales regiones de Colombia: Valle del Cauca. |
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| ISSN: | 0023-8791 1542-4278 |