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Direct Estimation of Entropy and Revisions to the National Income Accounts

K. D. Patterson and S. M. Heravi
Journal of the Royal Statistical Society. Series D (The Statistician)
Vol. 40, No. 1 (1991), pp. 35-50
Published by: Wiley for the Royal Statistical Society
DOI: 10.2307/2348222
Stable URL: http://www.jstor.org/stable/2348222
Page Count: 16
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Direct Estimation of Entropy and Revisions to the National Income Accounts
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Abstract

This study reports an analysis of the reduction in uncertainty, or information gain, contained in data which is revised subsequent to the publication of preliminary estimates. A central concept in the analysis is that of the entropy of a distribution. We develop existing methods to allow for non-normality and directly estimate the entropy of the appropriately defined conditional distribution. We show that a failure to account for non-normality would give rise to misleading conclusions.

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