Time Series Analysis

Question 1

Types of Data for Economic Analysis

Answer 1

1) Cross-section data (primary sources)
- survey data
- data from key informant interviews (KIl)
- data from focused group discussions (FGD)

2) Time series data (secondary/published sources)
- National Income Accounts from National Statistics Office (NSO)
- Price and production data from Philippine Statistics Authority (PSA)
- World data from World Bank or FAOSTAT (Food and Agriculture Organization)

3. Panel data (combined cross-section and time series data)
   - World Bank Data across countries.

Question 2

Timeseries Data

Answer 2

• a variable whose observations or measurements are arranged chronologically, i.e., in the order of time.
• Lagged variable: Y-1, Y-2, ….. (Past values)
• Lead variable: Y+1, Y+2, ….. (Forecast)

Note: The order of observations is very important!
Mathematically, “time series” is not a SERIES, but a SEQUENCE!