Arbeitspapier
Adjusting production indices for varying weather effects
While recurring and regular variations of weather conditions are implicitly addressed by standard seasonal adjustment procedures of economic time series, extraordinary weather outcomes are not. We analyze their impact on German total industrial and construction-sector production and find modest but significant effects. The estimated effects of weather deviations can be subtracted from the already seasonally adjusted data to obtain seasonally as well as weather adjusted series. Given the timely availability of the weather data compared to the publication lag of economic measurements, we also show how to exploit this contemporaneous impact in real time to help the nowcasting of industrial production.
- Language
-
Englisch
- Bibliographic citation
-
Series: IMK Working Paper ; No. 171
- Classification
-
Wirtschaft
Macroeconomics: Production
Business Fluctuations; Cycles
- Subject
-
weather
business cycle
nowcasting
- Event
-
Geistige Schöpfung
- (who)
-
Haustein, Erik
Schreiber, Sven
- Event
-
Veröffentlichung
- (who)
-
Hans-Böckler-Stiftung, Institut für Makroökonomie und Konjunkturforschung (IMK)
- (where)
-
Düsseldorf
- (when)
-
2016
- Handle
- URN
-
urn:nbn:de:101:1-20160614765
- Last update
-
10.03.2025, 11:43 AM CET
Data provider
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Haustein, Erik
- Schreiber, Sven
- Hans-Böckler-Stiftung, Institut für Makroökonomie und Konjunkturforschung (IMK)
Time of origin
- 2016
Other Objects (12)
Adjusting production indices for varying weather effects
Self-adjusting process monitoring system in series production
Spurious Weather Effects
Weather, Climate and Production Risk
Space weather : physics and effects
Adjusting the mechanical behavior of embroidered scaffolds to lapin anterior cruciate ligaments by varying the thread materials
Adjusting to the euro
Self-adjusting reinforcement learning
Time-varying effects of local weather on behavior and probability of breeding deferral in two Arctic-nesting goose populations
Expectation-driven cycles: time-varying effects
Possible geomagnetic activity effects on weather
Adjusting to Globalization in Germany
Adjusting production indices for varying weather effects
Self-adjusting process monitoring system in series production
Spurious Weather Effects
Weather, Climate and Production Risk
Space weather : physics and effects
Adjusting the mechanical behavior of embroidered scaffolds to lapin anterior cruciate ligaments by varying the thread materials
Adjusting to the euro
Self-adjusting reinforcement learning
Time-varying effects of local weather on behavior and probability of breeding deferral in two Arctic-nesting goose populations
Expectation-driven cycles: time-varying effects
Possible geomagnetic activity effects on weather
Adjusting to Globalization in Germany
Adjusting production indices for varying weather effects
Self-adjusting process monitoring system in series production
Spurious Weather Effects
Weather, Climate and Production Risk
Space weather : physics and effects
Adjusting the mechanical behavior of embroidered scaffolds to lapin anterior cruciate ligaments by varying the thread materials
Adjusting to the euro
Self-adjusting reinforcement learning
Time-varying effects of local weather on behavior and probability of breeding deferral in two Arctic-nesting goose populations
Expectation-driven cycles: time-varying effects
Possible geomagnetic activity effects on weather