Indicators of Economic Activity: A Review
- Lya Paola Sierra Suárez
, - Jaime Andrés Collazos-Rodríguez,
- Johana Sanabria-Domínguez,
- Pavel Vidal-Alejandro
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.
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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