An official website of the United States government
Here’s how you know
Official websites use .gov
A .gov website belongs to an official government organization in the United States.
Secure .gov websites use HTTPS
A lock (
) or https:// means you’ve safely connected to the .gov website. Share sensitive information only on official, secure websites.
Several methods exist which can adjust for trading day and holiday effects in monthly economic time series. This paper reviews and compares two such methodologies for conducting proper adjustments. The two methodologies are based upon the U.S. Census Bureau’s X-12-ARIMA method and one developed by the Statistical Offices of the European Communities, commonly referred to as Eurostat. Three different methods are used to compare the U.S. Census Bureau procedure and the Eurostat-inspired procedure. These methods are spectral analysis, sample- size corrected AIC comparisons, and examination of out-of-sample forecast errors. Finally, these comparisons are conducted using nearly 100 U.S. Census Bureau time series of manufacturing data, retail sales, and housing starts. This empirical study is the first of its kind and therefore provides an important contribution to the seasonal adjustment community.
Share
Related Information
Some content on this site is available in several different electronic formats. Some of the files may require a plug-in or additional software to view.
Top