New Trends 2014 - Proceedings of 9th international scientific conference. Private College of Economic Studies Znojmo, pp. 428-432.
ISSN/ISBN: 2336–7431 DOI: Not available at this time.
Note - this is a foreign language paper: CZE
Abstract: This paper summarizes the current theory concerning the utilization of Benford's Law by testing macroeconomic data and evaluating the results of an empirical analysis of GDP components of the Czech Republic for the years: 1995-2012.The results of the tests are compared with an assessment of the quality of the macroeconomic data according to the International Monetary Fund (Reports on the observance of Standards and Codes). The methods used are: a literature analysis, statistical calculations, and comparisons. The conclusions are as follows: 1) Benford's law is applicable to macroeconomic data but with relatively large limits, 2) Inconsistent results of Benford's test could be caused by the testing statistics which are used and by a lack of range of the tested data, 3)The current theory is not a uniform interpretation of the nonconformity of macroeconomic data within a Benford distribution,, it certainly could be not automatically assumed that the data are low quality or manipulated.
Bibtex:
@inproceedings{,
AUTHOR={Michal Plaček and Milan Křápek},
TITLE={The applications of Benford´s law to macroeconomic data – Current Experience},
BOOKTITLE={New Trends 2014 - Proceedings of 9th international scientific conference.},
ADDRESS={Private College of Economic Studies Znojmo},
YEAR={2014},
PAGES={428--432},
URL={http://trendy.svse.cz/uploads/File/VaV/NT_2014.pdf},
}
Reference Type: Conference Paper
Subject Area(s): Economics