A joint OECD/Eurostat workshop on the Application of benchmarking and advanced temporal disaggregation techniques to economic statistics was held at the OECD on 27 November. Benchmarking is defined as the process of correcting inconsistencies between two sources of data for the same target variable which are produced with different frequencies (e.g. monthly and annual retail trade statistics). Temporal disaggregation is defined as the process of deriving high frequency data from low frequency data and, if available, related high frequency information (used considerably in the compilation of quarterly national accounts). Key elements of this workshop were:
- presentation of the Eurostat software package ECOTRIM – a user friendly windows based system which performs benchmarking and temporal disaggregation for economic time series
- presentation of recent research on advanced methods of temporal disaggregation, which could provide significant benefits over the methods currently employed by most national statistical organisations.
- a discussion of plans for upgrading the functions available in the ECOTRIM software, and how the knowledge and benefits of benchmarking and temporal disaggregation techniques could be better promoted throughout the OECD and non-member countries
The ECOTRIM software is freely available, and the OECD encourages the application of benchmarking techniques as a method to improve the quality of short-term economic statistics. For information on gaining access to ECOTRIM, please contact Roberto.Barcellan@cec.eu.int.
Papers and presentations from the workshop