News or noise?
Subtitle: an analysis of Brazilian GDP announcements
By: Rebeca de la Rocque Palis, Roberto Luis Olinto Ramos, Patrice Robitaille.
Contributors: Ramos, Roberto Luis Olinto.; Robitaille, Patrice.
Series: International finance discussion papers ;; no. 776; International finance discussion papers (Online) ;; no. 776.
Publisher: Federal Reserve Board
Published: 2003
Place of publication: Washington, D.C
Language: eng
Format: Electronic resource
Subjects: Gross domestic product -- Brazil.
Description: "Revisions to GDP announcements in many countries are often large, and Faust, Rogers, and Wright (2003) have found that G-7 GDP revisions are predictable to varying degrees.  In this paper, we extend FRW to study revisions to Brazilian GDP announcements.  We document that revisions to Brazilian GDP are large relative to those of G-7 countries.  Brazilian GDP revisions are also predictable, which is consistent with the view that GDP revisions correct errors in preliminary GDP rather than reflect news.  However, GDP revisions are far from being entirely predictable.  Although GDP revisions are largest only one year following the initial GDP release, those revisions are nearly unpredictable"--Federal Reserve Board web site.
Notes: Includes bibliographical references.
Title from PDF file as viewed on 9/14/2004.
Also available in print.
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Mode of access: World Wide Web.