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Re-Index GDP from 2000's Dollars to 2005's Dollars

post #1 of 20
Thread Starter 
Before I reinvent the wheel does anybody know how to reindex values to a different base? For example, prior to 2010 US GDP was indexed to 2000's dollars, 2010 to present it is indexed to 2005's dollars. I have a bunch of forecasts of GDP over the years and I want to put them all on the same playing field. Is there an easy way to do this?
post #2 of 20
Do you know the diff between 2000 dollars and 2005 dollars?
post #3 of 20
I doubt you have an enormous database when it's just a few projections, so you could just write a little command in the next column as either:

A: Bring the GDP forecasts in 2000 dollars up to 2005 dollars

B: Bring the GDP forecasts in 2005 dollars back to 2000 dollars

It's simply a matter of accounting for inflation between 2000 and 2005. You should be able to bring that information up anywhere.
post #4 of 20
Thread Starter 
Quote:
Originally Posted by imageWIS View Post

Do you know the diff between 2000 dollars and 2005 dollars?

Do you mean the difference in CPI between the two periods? Yes.

It is not as clear cut, because it was a sudden change over and I am not working with actual historical values, I am working with forecasted values. I know a way to derive based on the %change of the forecast on a 2005 base, but it will take a really long time to do. I have to prepare many years of this. I am just wondering if there is an easy way,
post #5 of 20
What the form that your GDP forecasts take? If it's in one spreadsheet you can write a sheet level macro and apply it over all the values therein. If it's across many sheets you can write it to the general module (standard/this workbook) to apply it across the entire workbook.
post #6 of 20
Quote:
Originally Posted by Nereis View Post

I doubt you have an enormous database when it's just a few projections, so you could just write a little command in the next column as either:
A: Bring the GDP forecasts in 2000 dollars up to 2005 dollars
B: Bring the GDP forecasts in 2005 dollars back to 2000 dollars

It's simply a matter of accounting for inflation between 2000 and 2005. You should be able to bring that information up anywhere.

Beat me too it.
post #7 of 20
Thread Starter 
That seems obvious, but it doesn't work. If I take the historical GDP when it was in 2000's dollars in say 1970 and do it that way and put it in 2005's dollars and compare that number to what the bea currently has 1970's GDP (now in 2005's dollars) it is slightly off.

I found a way to do it though. The hard way.

I just took the %changes of the old forecasts and applied them to a historical actual value that is in 2005's dollars to bring the 2000's GDP into 2005's dollars. Seems to have done the trick and only took hours for me to complete. I hate all of you.
post #8 of 20
Quote:
Originally Posted by patrickBOOTH View Post

That seems obvious, but it doesn't work. If I take the historical GDP when it was in 2000's dollars in say 1970 and do it that way and put it in 2005's dollars and compare that number to what the bea currently has 1970's GDP (now in 2005's dollars) it is slightly off.
I found a way to do it though. The hard way.
I just took the %changes of the old forecasts and applied them to a historical actual value that is in 2005's dollars to bring the 2000's GDP into 2005's dollars. Seems to have done the trick and only took hours for me to complete. I hate all of you.

You used Excel, I take it?
post #9 of 20
Thread Starter 
Quote:
Originally Posted by imageWIS View Post

You used Excel, I take it?

Of course, could be part of the problem. I don't have SAS, sorry.
post #10 of 20
Quote:
Originally Posted by patrickBOOTH View Post

Of course, could be part of the problem. I don't have SAS, sorry.

You can download stata 11 off of the pirate bay and copy paste the data in, do your stuff, and copy paste it back out.
post #11 of 20
Thread Starter 
Quote:
Originally Posted by Nereis View Post

You can download stata 11 off of the pirate bay and copy paste the data in, do your stuff, and copy paste it back out.

Unfortunately my company wont allow downloads through our security. Its a hasstle to get anything.
post #12 of 20
Quote:
Originally Posted by patrickBOOTH View Post

Of course, could be part of the problem. I don't have SAS, sorry.

I see. Excel would require a few extra steps, but you can design a few ad hoc functions / formulas that could save you time.
post #13 of 20
Quote:
Originally Posted by patrickBOOTH View Post

Unfortunately my company wont allow downloads through our security. Its a hasstle to get anything.

Plus you shouldn't risk illegally downloading software at the office.
post #14 of 20
Quote:
Originally Posted by imageWIS View Post

Plus you shouldn't risk illegally downloading software at the office.

+1. They invented proxies for a reason.
post #15 of 20
Quote:
Originally Posted by patrickBOOTH View Post

Before I reinvent the wheel does anybody know how to reindex values to a different base? For example, prior to 2010 US GDP was indexed to 2000's dollars, 2010 to present it is indexed to 2005's dollars. I have a bunch of forecasts of GDP over the years and I want to put them all on the same playing field. Is there an easy way to do this?

Why would you want to do this. BEA.gov (Table 1.1.6) has quarterly GDP in 2005$ running all the way back to 1947. Your tax dollars at work.
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