Working days series in Colombia: an application to industrial growth adjustment

Main Article Content

Autores

Álvaro Montenegro García

Abstract

While many economists are aware of the effect of workdays on production measures, it is common to find data being analyzed without adjustment. Generally, the number of workdays in a month changes from one year to the next. This is true for all months, not only for March and April which exhibit the largest variations due to the Holy Week. This paper constructs a series of workdays, accounting for changes in holidays through time, and uses it to adjust industrial production data from DANE. Some months the difference between industrial growth reported by DANE and growth adjusted by workdays may reach 12 percentage points, positive or negative.

Keywords:

Article Details

Licence

By submitting articles for evaluation, the author agrees to transfer the publishing rights to Revista Apuntes del CENES for publishing in any format or mean and that the attached partial use license will be signed. To increase their visibility, documents are sent to databases and indexing systems also can be viewed on the website and Redalyc - EBSCO - ProQuest - EconLit - DOAJ -  Scielo - Dialnet - ESCI(WoS) - Latindex  - DOTEC - REPECERIH PLUS - The WZB library -  Actualidad Iberoamericana  -   Publindex  - VCU -  Econpapers - EconBib - Bibilat  -  REDIB  -   Crossref - Worldcat -  CLASE - SHERPA ROMEO - Academia - EconBiz - Socionet - Vlex

The journal is under licence Attribution-NonCommercial-ShareAlike 4.0 International (CC BY-NC-SA 4.0)

For CC licenses, the principle is the creative freedom. This system complements the copyright without oppose it. The content of the items is the responsibility of each author, and does not compromise in any way, magazine or institution.

Publishing and reproduction of titles, abstracts and full content for academic, scientific, cultural and nonprofit purposes is allowed, when the respective source is acknowledged. This work cannot be used for commercial purposes.

Apuntes del Cenes is an open access journal which means that all content is freely available without charge to the user or his/her institution. Users are allowed to read, download, copy, distribute, print, search, or link to the full texts of the articles, or use them for any other lawful purpose, without asking prior permission from the publisher or the author. This is in accordance with the BOAI definition of open access.

Apuntes del Cenes  does not charge authors for submission or publication

Form 6 Copyright Transfer Form

When sending an article to submit to the Apuntes del CENES journal, the author(s) certify and accept:

1.That the article has not been accepted for evaluation in another journal, nor has it been published.
2.That, in case a publication of a previous version as a working paper (or 'gray literature') has been reported on a website, and that, in the case of publication being accepted, it will be removed from the Internet site, where
will leave only the title, abstract, keywords and hyperlink to the journal.

3.
That once published in Apuntes del CENES will not be published in another magazine.

References

Banco de la República. (2005, junio). Informe sobre la Inflación. Bogotá: Banrep.

Colombia, Congreso de la República. (1983, 22 de dic.). Ley 51 o LeyEmiliani. Por la cual se traslada el descanso remunerado de algunos días festivos. En Diario Oficial No. 36.428, (1983, 30 de dic.).

Cuando en el Mundo. (2008-2014). Calendario. Recuperado de http://www.cuandoenelmundo.com/calendario/

Eurostat. (2006).Methodology of Short-termBusiness Statistics. Interpretation andGuidelines.

Luxemburgo: Office for Official Publications of the European Communities.

FederalReserve. (2003, abril). Industrial Production and Capacity Utilization:The 2002 Historical and Annual Revision. Federal Reserve Bulletin, 89.

Landiray, D. (2006, mayo). Calendar Effect and SeasonalAdjustment, EurostatWorkshop (10- 12). INSEE.

Martínez, C. (2004). Pronósticos de la producción industrial. Documento 273.Archivos de Macroeconomía. Bogotá: Departamento Nacional de Planeación, Dirección de Estudios Económicos.

Montenegro,A. (2010). Cifras de producción industrial ajustadas por días hábiles.Documento de trabajo. Departamento de Economía, Universidad Javeriana. Universitas Económica,(1).

Montenegro,A. (2011).Análisis de series de tiempo, Bogotá: EditorialUniversidad Javeriana.

StatisticsCanada. (2014, 31 demarzo).Gross Domestic Product byIndustry, NationalMonthly. Data Release. Retrieved from ht tp: / /www23.statcan.gc.ca/ imdb/p2SV.pl Function=getSurvey&SDDS=1301

Soukup, R. & Findley, D. (2000, oct.). Modeling and Model Selection for Moving Holidays.US Census Bureau, Seasonal Adjustment Papers.

Downloads

Download data is not yet available.