Quantifying Qualitative Survey Data with Panel Data Structure

Alexandros Botsis, Christoph Görtz and Plutarchos Sakellaris

CAMA Working Papers from Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University

Abstract: We develop a novel methodology to quantify forecasts based on qualitative survey data. The methodology is generally applicable when quantitative information is available on the realization of the forecasted variable, for example from firm balance sheets. The method can be applied to a wide range of panel datasets, including qualitative surveys on firm-level forecasts or household expectations. As an application, we employ a panel of Greek manufacturing firms and quantify firms’ forecast errors of own sales growth. In this context, we conduct a variety of exercises to demonstrate the methodology’s validity and accuracy.

Keywords: expectations; firm data; forecast errors; survey data (search for similar items in EconPapers)
JEL-codes: C53 C83 D22 D84 E32 (search for similar items in EconPapers)
Pages: 61 pages
Date: 2024-03
New Economics Papers: this item is included in nep-bec
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Related works:
Working Paper: Quantifying Qualitative Survey Data with Panel Data Structure (2024)
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Persistent link: https://EconPapers.repec.org/RePEc:een:camaaa:2024-21

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