This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate. This paper reviews the Latin American experience with the implementation of 1993 SNA and the updating of the national accounts' base year. It also makes a preliminary assessment of the possible estimation biases in nominal GDP estimates stemming from the use of outdated national accounts base years, downwards biases with household final consumption estimates, and an overestimation of gross fixed capital formation in construction activities.

Revisions to GDP announcements in many countries are often large, and Faust, Rogers, and Wright (2003) have found that G-7 GDP revisions are predictable to varying degrees. In this paper, we extend FRW to study revisions to Brazilian GDP announcements. We document that revisions to Brazilian GDP are large relative to those of G-7 countries. Brazilian GDP revisions are also somewhat predictable, which is consistent with the view that GDP revisions correct errors in preliminary GDP rather than reflect news. However, GDP revisions are far from being entirely predictable. Although GDP revisions are largest only one year following the initial GDP release, those revisions are nearly unpredictable.

Este artigo tem como objetivo comparar os resultados do fator trabalho e dos rendimentos a ele associados entre as séries antiga e nova do SCN do Brasil. Assim, foram apresentados os principais aspectos conceituais e metodológicos e as diferenças existentes na construção e nos resultados obtidos pelas duas séries do SCN. Para avaliar os novos resultados, eles foram comparados com os dados de outras bases estatísticas freqüentemente utilizadas nos estudos relativos ao mercado de trabalho: PNAD, POF e Rais. O confronto dos resultados do SCN com os das bases selecionadas ratificaram a conclusão de que essas variáveis estão mais bem mensuradas na nova série do SCN, e que se encontravam subestimadas nos anos finais da série antiga.

Revisions to GDP announcements in many countries are often large, and Faust, Rogers, and Wright (2003) have found that G-7 GDP revisions are predictable to varying degrees. In this paper, we extend FRW to study revisions to Brazilian GDP announcements. We document that revisions to Brazilian GDP are large relative to those of G-7 countries. Brazilian GDP revisions are also somewhat predictable, which is consistent with the view that GDP revisions correct errors in preliminary GDP rather than reflect news. However, GDP revisions are far from being entirely predictable. Although GDP revisions are largest only one year following the initial GDP release, those revisions are nearly unpredictable.

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