02239cas a2200289 a 4500 AALejournalIMF011958 230101c9999 xx r poo 0 0eng d 5.00 USD 9781475505177 1018-5941 BD-DhAAL BD-DhAAL Marini, Marco. On the Extrapolation with the Denton Proportional Benchmarking Method / Marco Marini, Tommaso Di Fonzo. Washington, D.C. : International Monetary Fund, 2012. 1 online resource (21 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students Statistical offices have often recourse to benchmarking methods for compiling quarterly national accounts (QNA). Benchmarking methods employ quarterly indicator series (i) to distribute annual, more reliable series of national accounts and (ii) to extrapolate the most recent quarters not yet covered by annual benchmarks. The Proportional First Differences (PFD) benchmarking method proposed by Denton (1971) is a widely used solution for distribution, but in extrapolation it may suffer when the movements in the indicator series do not match consistently the movements in the target annual benchmarks. For this reason, an enhanced formula for extrapolation was recommended by the IMF's Quarterly National Accounts Manual: Concepts, Data Sources, and Compilation (2001). We discuss the rationale behind this technique, and propose a matrix formulation of it. In addition, we present applications of the enhanced formula to artificial and real-life benchmarking examples showing how the extrapolations for the most recent quarters can be improved. Mode of access: Internet BI Ratio imf WP imf Korea, Republic of imf Di Fonzo, Tommaso. IMF Working Papers; Working Paper ; No. 2012/169 Full text available on IMF http://elibrary.imf.org/view/journals/001/2012/169/001.2012.issue-169-en.xml IMF e-Library