Influence of data vintage on quantification of expectations

Importance of acknowledging data revisions – that is, corrections published after the initial announcement was made – has been repeatedly stressed in current economic literature. In this paper, I propose to test whether including information on data revisions infuences results of regression quantification procedures. Empirical analysis leads to the conclusion that end-of-sample data appears better suited for quantification of business tendency survey data on volume index of industrial production sold.