Get 20M+ Full-Text Papers For Less Than $1.50/day. Start a 14-Day Trial for You or Your Team.

Learn More →

Analysing Economic DataTransforming Data

Analysing Economic Data: Transforming Data [The need to of en transform raw data is discussed and the logarithmic transformation is introduced in some detail. It is emphasised that the slope of a graph of the original data says nothing about the growth rate of the variable, since it is only from the slope of the graph of the logarithms that such information can be obtained. These ideas are illustrated by constructing alternative measures of UK inflation. Other transformations are discussed, including the famous Phillips curve, linking inflation to the inverse of the unemployment rate. Moving averages are introduced as a way of smoothing data and such ideas are extended to decomposing a time series, illustrated by decomposing retail sales into its trend, seasonal and irregular components as a prelude to seasonally adjusting the series.] http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png

Analysing Economic DataTransforming Data

Download PDF
21 pages

Loading next page...
 
/lp/springer-journals/analysing-economic-data-transforming-data-ZwKzIoEXsk
Publisher
Palgrave Macmillan UK
Copyright
© Palgrave Macmillan, a division of Macmillan Publishers Limited 2014
ISBN
978-1-349-48656-4
Pages
23 –44
DOI
10.1057/9781137401908_3
Publisher site
See Chapter on Publisher Site

Abstract

[The need to of en transform raw data is discussed and the logarithmic transformation is introduced in some detail. It is emphasised that the slope of a graph of the original data says nothing about the growth rate of the variable, since it is only from the slope of the graph of the logarithms that such information can be obtained. These ideas are illustrated by constructing alternative measures of UK inflation. Other transformations are discussed, including the famous Phillips curve, linking inflation to the inverse of the unemployment rate. Moving averages are introduced as a way of smoothing data and such ideas are extended to decomposing a time series, illustrated by decomposing retail sales into its trend, seasonal and irregular components as a prelude to seasonally adjusting the series.]

Published: Oct 26, 2015

There are no references for this article.