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The Quantification of Qualitative Survey Data : A Critical Assessment
Author(s) -
Nardo Michela
Publication year - 2003
Publication title -
journal of economic surveys
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.657
H-Index - 92
eISSN - 1467-6419
pISSN - 0950-0804
DOI - 10.1046/j.1467-6419.2003.00208.x
Subject(s) - economics , econometrics , survey data collection , qualitative property , transformation (genetics) , computer science , mathematics , statistics , machine learning , chemistry , biochemistry , gene
. Data obtained from business and consumer surveys are often used in forecasting models and in testing different expectation formation schemes. Their use, however, requires a previous step of transformation of the qualitative data into quantitative figures. This paper contains a critical review of the different quantification methods, highlighting the limits of their use in macroeconomic modelling.