Institution

Eurostat

Year

2015

Level

Advanced

Abstract

In this first issue of 2015, four articles offer thought-provoking views on a wide range of subjects, including natural capital accounts, government finance statistics, goodwill and seasonal adjustment. The Seasonally Adjusted series of an aggregate can be obtained by seasonal adjusting it (direct approach) or by aggregating the seasonally adjusted individual series (indirect approach). It should be noted that, to-date, the literature has been mainly focusing on an a posteriori comparison among the results achieved by applying different approaches. This paper seeks to set out an a priori strategy for the identification of the most effective seasonal adjustment of the aggregate.