Working days series in Colombia: an application to industrial growth adjustment
While many economists are aware of the effect of workdays on production measures, it is common to find data being analyzed without adjustment. Generally, the number of workdays in a month changes from one year to the next. This is true for all months, not only for March and April which exhibit the l...
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| Format: | Online |
| Language: | spa |
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Universidad Pedagógica y Tecnológica de Colombia
2014
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| Online Access: | https://revistas.uptc.edu.co/index.php/cenes/article/view/2903 |
| _version_ | 1801705946057015296 |
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| author | García, Álvaro Montenegro |
| author_facet | García, Álvaro Montenegro |
| author_sort | García, Álvaro Montenegro |
| collection | OJS |
| description | While many economists are aware of the effect of workdays on production measures, it is common to find data being analyzed without adjustment. Generally, the number of workdays in a month changes from one year to the next. This is true for all months, not only for March and April which exhibit the largest variations due to the Holy Week. This paper constructs a series of workdays, accounting for changes in holidays through time, and uses it to adjust industrial production data from DANE. Some months the difference between industrial growth reported by DANE and growth adjusted by workdays may reach 12 percentage points, positive or negative. |
| format | Online |
| id | oai:oai.revistas.uptc.edu.co:article-2903 |
| institution | Revista Apuntes del Cenes |
| language | spa |
| publishDate | 2014 |
| publisher | Universidad Pedagógica y Tecnológica de Colombia |
| record_format | ojs |
| spelling | oai:oai.revistas.uptc.edu.co:article-29032022-06-17T21:33:44Z Working days series in Colombia: an application to industrial growth adjustment Series de días hábiles en Colombia: una aplicación al ajuste del crecimiento industrial García, Álvaro Montenegro industrial production monthly manufacturing survey working days seasonality. Producción industrial DANE estacionalidad. (Industrial production seasonality) While many economists are aware of the effect of workdays on production measures, it is common to find data being analyzed without adjustment. Generally, the number of workdays in a month changes from one year to the next. This is true for all months, not only for March and April which exhibit the largest variations due to the Holy Week. This paper constructs a series of workdays, accounting for changes in holidays through time, and uses it to adjust industrial production data from DANE. Some months the difference between industrial growth reported by DANE and growth adjusted by workdays may reach 12 percentage points, positive or negative. Si bien muchos economistas son conscientes del efecto de los días hábiles sobre la medición de la producción, aún es frecuente encontrar que estas cifras se analizan sin el correspondiente ajuste. En general, el número de días hábiles en un mes cambia de un año a otro, lo cual es cierto para todos los meses, no solo para los que contienen la Semana Santa. Este trabajo recopila la serie de días hábile mensuales tomando en cuenta los festivos actuales y anteriores a la Ley Emiliani, y la utiliza para ajustar la serie de producción manufacturera del DANE. Para algunos meses, la diferencia entre la cifra de crecimiento industrial reportada por el DANE y la cifra ajustada por días hábiles puede acercarse a los 12 puntos porcentuales, en cualquier dirección. Universidad Pedagógica y Tecnológica de Colombia 2014-09-22 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer reviewed Article application/pdf https://revistas.uptc.edu.co/index.php/cenes/article/view/2903 10.19053/22565779.2903 Apuntes del Cenes; Volumen 33 N°57: enero - junio de 2014; 11-30 Apuntes del Cenes; Volumen 33 N°57: enero - junio de 2014; 11-30 2256-5779 0120-3053 spa https://revistas.uptc.edu.co/index.php/cenes/article/view/2903/2640 Copyright (c) 2014 Álvaro Montenegro García http://creativecommons.org/licenses/by-nc-sa/4.0 |
| spellingShingle | industrial production monthly manufacturing survey working days seasonality. Producción industrial DANE estacionalidad. (Industrial production seasonality) García, Álvaro Montenegro Working days series in Colombia: an application to industrial growth adjustment |
| title | Working days series in Colombia: an application to industrial growth adjustment |
| title_alt | Series de días hábiles en Colombia: una aplicación al ajuste del crecimiento industrial |
| title_full | Working days series in Colombia: an application to industrial growth adjustment |
| title_fullStr | Working days series in Colombia: an application to industrial growth adjustment |
| title_full_unstemmed | Working days series in Colombia: an application to industrial growth adjustment |
| title_short | Working days series in Colombia: an application to industrial growth adjustment |
| title_sort | working days series in colombia an application to industrial growth adjustment |
| topic | industrial production monthly manufacturing survey working days seasonality. Producción industrial DANE estacionalidad. (Industrial production seasonality) |
| topic_facet | industrial production monthly manufacturing survey working days seasonality. Producción industrial DANE estacionalidad. (Industrial production seasonality) |
| url | https://revistas.uptc.edu.co/index.php/cenes/article/view/2903 |
| work_keys_str_mv | AT garciaalvaromontenegro workingdaysseriesincolombiaanapplicationtoindustrialgrowthadjustment AT garciaalvaromontenegro seriesdediashabilesencolombiaunaaplicacionalajustedelcrecimientoindustrial |
