The semi-government bond market has grown rapidly in recent years, reflecting developments in state government financing needs, in particular increasing funding needs for infrastructure investment. The growth has increased the depth and liquidity of the market, and semi-government securities...

Gauging economic conditions in real time is challenging, in part because economic data are difficult to measure and subject to subsequent revision as more information becomes available. This article investigates the pattern and size of revisions to real gross domestic product (GDP) over the past...