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About
a coincident index for the state of the economy.
By: Nieto, F. y L.F. Melo.
Abstract
The construction of coincident indexes for the
economic activity of a country is a common practice
since the fifties. The methodologies vary from
heuristic methods to probabilistic or statistical
ones. In this paper, we present a new procedure
for estimating a coincident index of the state
of the economy which is optimum in a statistical
sense. This procedure is based on state space
models that do possess the steady-state property.
We apply our methodology for computing a coincident
index for the Colombian economy.
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