Developer/availability

IMF Statistics Department The add-in function and user guide are available on request

Functions

An add-in function in Excel for: 1) Distribution of quarterly data to: a) achieve consistency between quarterly and annual estimates; and b) avoid the step-problem in the evolution of the quarterly series; 2) Extrapolation of most recent quarterly data not yet covered by annual benchmarks. Extrapolation is done such that the step-problem in the evolution of the quarterly series is avoided. XLPBM is a benchmarking procedure (not a seasonal adjustment) built into an Excel function.

Documentation

XLBPM2.0 User Guide On the Extrapolation with the Denton Proportional Bench-marking Method Quarterly National Accounts Manual - 2017 Edition (Chapter 6)

Data requirements

1) For a given item: a) Annual data; b) Quarterly indicators; 2) Annual data should be more reliable than quarterly data.

Other requirements

1) Sufficient ability to and experience in assessing data to understand whether the procedure to eliminate the step-problem yields meaningful results, which reflect the economic reality. This is particularly important in small, open economies, where the B/I ratios exhibit very large variations across years, and data therefore are difficult to interpret; 2) Intermediate knowledge of Excel.

Flexibility

1) User free to choose between Denton and Cholette-Dagum methods for distribution of quarterly data (third argument in add-in formula); 2) If Denton method is selected, for extrapolations user free to choose between standard Denton method and enhanced Denton method (for Cholette-Dagum method, no such distinction exists).

Automaticity of calculations

Fully automatic once method has been determined.

Countries using the toolkit

Used in many countries in Africa, Asia, Caribbean, for example Kenya, St Lucia, Tanzania, Uganda