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Vol. 36 No. 64 (2017)

Economic theory

Indicators of Economic Activity: A Review

https://doi.org/10.19053/01203053.v36.n64.2017.5132

Published 2017-06-20

  • Lya Paola Sierra Suárez
    • ,
  • Jaime Andrés Collazos-Rodríguez
    • ,
  • Johana Sanabria-Domínguez
    • ,
  • Pavel Vidal-Alejandro

Lya Paola Sierra Suárez
Pontificia Universidad Javeriana de Cali

Jaime Andrés Collazos-Rodríguez
Banco de la República, Cali.

Johana Sanabria-Domínguez
Banco de la República, Cali.

Pavel Vidal-Alejandro
Pontificia Universidad Javeriana de Cali.

Abstract

Economic indicators are used to measure the performance of the economy when other indicators, such as gross domestic product, may not provide information about the state of the economy in real time. This article provides a review of national and international literature about the construction of indicators of economic activity. Additionally, a summary of the methodology most commonly used in the construction of indices of economic activity, Factorial Dynamic Model (MFD) and different types of estimation is offered.

Keywords

index of economic activity, dynamic factor model.

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Author Biography

Lya Paola Sierra Suárez

Lya Paola Sierra

Doctora en Economía de la Universidad Autónoma de Madrid.

Master en Economía Internacional de la Universidad Autónoma de Madrid.

Maestría en Economía de la Universidad Javeriana, Bogotá.

Profesora Asociada del Departamento de Economía de la Universidad Javeriana, Cali.

Investigadora Asociada, clasificación Colciencias.

Coordinadora del grupo de investigación Competitividad y Desarrollo

Jaime Andrés Collazos-Rodríguez

Economista del Centro Regional de Estudios Económicos (CREE) del Banco de la República, Cali.

Johana Sanabria-Domínguez

Economista del Centro Regional de Estudios Económicos (CREE) del Banco de la República, Cali.

Pavel Vidal-Alejandro

Doctor en Economía de la Universidad de la Habana.

Profesor Asociado del Departamento de Economía. Pontificia Universidad Javeriana, Cali.  

Investigador Junior, clasificación e Colciencias.

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