Survey Methodology
Growth Rates Preservation (GRP) temporal benchmarking: Drawbacks and alternative solutions

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by Jacco Daalmans, Tommaso Di Fonzo, Nino Mushkudiani and Reinier BikkerNote 1

  • Release date: June 21, 2018
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Abstract

Benchmarking monthly or quarterly series to annual data is a common practice in many National Statistical Institutes. The benchmarking problem arises when time series data for the same target variable are measured at different frequencies and there is a need to remove discrepancies between the sums of the sub-annual values and their annual benchmarks. Several benchmarking methods are available in the literature. The Growth Rates Preservation (GRP) benchmarking procedure is often considered the best method. It is often claimed that this procedure is grounded on an ideal movement preservation principle. However, we show that there are important drawbacks to GRP, relevant for practical applications, that are unknown in the literature. Alternative benchmarking models will be considered that do not suffer from some of GRP’s side effects.

Key Words:      Benchmarking; Growth rate preservation; Data reconciliation; Macro integration.

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How to cite

Daalmans, J., Di Fonzo, T., Mushkudiani, N. and Bikker, R. (2018). Growth Rates Preservation (GRP) temporal benchmarking: Drawbacks and alternative solutions. Survey Methodology, Statistics Canada, Catalogue No. 12-001-X, Vol. 44, No. 1. Paper available at https://www150.statcan.gc.ca/n1/pub/12-001-x/2018001/article/54927-eng.htm.

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ISSN : 1492-0921

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Survey Methodology publishes articles dealing with various aspects of statistical development relevant to a statistical agency, such as design issues in the context of practical constraints, use of different data sources and collection techniques, total survey error, survey evaluation, research in survey methodology, time series analysis, seasonal adjustment, demographic studies, data integration, estimation and data analysis methods, and general survey systems development. The emphasis is placed on the development and evaluation of specific methodologies as applied to data collection or the data themselves. All papers will be refereed. However, the authors retain full responsibility for the contents of their papers and opinions expressed are not necessarily those of the Editorial Board or of Statistics Canada.

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Published by authority of the Minister responsible for Statistics Canada.

© Her Majesty the Queen in Right of Canada as represented by the Minister of Industry, 2018

Use of this publication is governed by the Statistics Canada Open Licence Agreement.

Catalogue No. 12-001-X

Frequency: Semi-annual

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Table of contents

Abstract - Article main page
Section 1. Introduction
Section 2. Temporal benchmarking methods
Section 3. Two problems with GRP benchmarking
Section 4. Alternative benchmarking techniques
Section 5. Empirical test
Section 6. Conclusions
Acknowledgements
References

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