Estimating the three-month series of the Chilean Gross Domestic Product

Abstract

In this paper the methodology proponed by [3]; is applied to estimate the three-month series of the Chilean Gross Domestic Product (GDP) in the period composed between 1965 and 2009. In first place, the equation of Engle-Granger is estimated using the data of the yearly GPD and related variables.The estimated coefficients of this regression are used to obtain a first estimation of the three-month GDP with measurements errors. Then a State Space model is estimated through Benchmarking in order to improve the preliminary estimation of the GDP with the purpose of eliminating the maximum error of measurement and in order that the sum of the three-month values coincide with the yearly GDP.