The Quantification of Qualitative Survey Data<b>:</b> A Critical Assessment
Data obtained from business and consumer surveys are often used in forecasting models and in testing different expectation formation schemes. Their use, however, requires a previous step of transformation of the qualitative data into quantitative figures. This paper contains a critical review of the different quantification methods, highlighting the limits of their use in macroeconomic modelling. Copyright Blackwell Publishing Ltd, 2003.