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The Average Earnings Index

The Average Earnings Index
The Average Earnings Index
Survey data are widely used to provide indicators of economic activity ahead of the publication of official 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 time-invariant thresholds.
0013-0133
100-121
Chambers, Ray
96331700-f45e-4483-a887-fef921888ff2
Weale, Martin
0494e9ea-35b4-4019-a2aa-5f8deff47144
Youll, Robin
8d6e5f66-d847-4b3e-805c-651ce165538c
Chambers, Ray
96331700-f45e-4483-a887-fef921888ff2
Weale, Martin
0494e9ea-35b4-4019-a2aa-5f8deff47144
Youll, Robin
8d6e5f66-d847-4b3e-805c-651ce165538c

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).

Record type: Article

Abstract

Survey data are widely used to provide indicators of economic activity ahead of the publication of official 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 time-invariant thresholds.

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More information

Published date: 2000
Organisations: Social Statistics

Identifiers

Local EPrints ID: 34165
URI: http://eprints.soton.ac.uk/id/eprint/34165
ISSN: 0013-0133
PURE UUID: 80d8abb7-15fd-47a9-b2ec-75b97a1d3357

Catalogue record

Date deposited: 26 Jul 2006
Last modified: 29 Nov 2019 17:36

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