Glossary entry (derived from question below)
English term or phrase:
judgmental trend
English answer:
empirical trend
Added to glossary by
Piotr Fras
Dec 11, 2005 20:03
18 yrs ago
English term
judgmental trend
English
Bus/Financial
Economics
statistics
The BEA estimates most of these using a so-called judgmental trend, based on the Census Bureau's quinquennial censuses and annual and quarterly surveys.
Responses
3 +8 | Explanation below | Michael Barnett |
Responses
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15 mins
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Explanation below
In BEA descriptions of quarterly estimates of services consumption, the phrase
“judgemental trend” figures prominently, particularly for early estimates. The phrase refers to a range of method less formal than standard NIPA methodology, which are used prior to the availability of actual data, and which experience indicates do not produce
systematic errors. Typically the judgemental trend applies to changes in quantities, while
components of the CPI (which are rapidly available) are used to estimate price change.
For example, early estimates of housing services are based on a judgemental trend for the housing stock, combined with actual data on rents from the CPI. For a number of service categories, quantity change is estimated using employment change in the industry
providing the service.
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Note added at 40 mins (2005-12-11 20:43:13 GMT)
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http://www.bea.gov/bea/an/nipaguid.pdf
NIPA is the "National Income and Product Accounts".
4 KudoZ points awarded for this answer.
Comment: "Thanks everybody. Points go to Michael"
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