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Benchmarking refers to the case where there are two sources of data for the same target variable, with different frequencies, and is concerned with correcting inconsistencies between the different estimates, e.g. quarterly and annual estimates of value-added from different sources.

Benchmarking is generally done retrospectively as annual benchmark data are available some time after quarterly data. Benchmarking does have a forward-looking element however, in that the relationship between benchmark and indicator data (benchmark: indicator ratio) is extrapolated forward to improve quarterly estimates for the most recent periods for which benchmark data are not yet available.

Source Publication:
Maitland-Smith, F, "Use of Benchmark Data to Align or Derive Quarterly/Monthly Estimates", paper presented at the June 2002 meeting of the OECD Short-term Economic Statistics Expert Group, Paris.

Cross References:

Statistical Theme: Methodological information (metadata)

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Created on Monday, August 19, 2002

Last updated on Wednesday, March 27, 2013