The Average Earnings Index
Chambers, Ray, Weale, Martin and Youll, Robin (2000) The Average Earnings Index. The Economic Journal, 110, (461), 100-121. (doi:10.1111/1468-0297.00509).
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Description/Abstract
Survey data are widely used to provide indicators of economic activity ahead of the publication of offcial data. This paper proposes an indicator based on a theoretically consistent procedure or quantifying firm-level survey responses that are ordered and categorical. Firms' survey responses are assumed to be triggered by a latent continuous random variable as it crosses thresholds.
Breaking tradition these thresholds are not assumed time invariant. An application to firm-level survey data from the Confederation of British Industry shows that the proposed indicator of manufacturing output growth outperforms traditional indicators that assume timeinvariant thresholds.
| Item Type: | Article |
|---|---|
| ISSNs: | 0013-0133 (print) |
| Related URLs: | |
| Subjects: | H Social Sciences > HB Economic Theory H Social Sciences > HA Statistics |
| Divisions: | University Structure - Pre August 2011 > School of Social Sciences > Social Statistics |
| Item ID: | 34165 |
| Date Deposited: | 26 Jul 2006 |
| Last Modified: | 01 Jun 2011 06:39 |
| Contributors: | Chambers, Ray (Author) Weale, Martin (Author) Youll, Robin (Author) |
| Date: | 2000 |
| Status: | Published |
| Contact Email Address: | rc6@soton.ac.uk |
| URI: | http://eprints.soton.ac.uk/id/eprint/34165 |
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