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The Monthly Coincident Composite Index of Economic Activity of Cordoba (ICA-COR) 1994 - 2006
In this paper we build a monthly Compound Coincident Indicator for the province of Cordoba (ICA-COR) corresponding to the period 1994-2006. Theoretical and empirical (national and international) evidence are used. We analyze quality indicators which belong to the ICA-COR, bringing additional importa...
In this paper we build a monthly Compound Coincident Indicator for the province of Cordoba (ICA-COR) corresponding to the period 1994-2006. Theoretical and empirical (national and international) evidence are used. We analyze quality indicators which belong to the ICA-COR, bringing additional importance to the labor informality and its effects over the outcomes. Labor and income (formal) series are a good approximation of the global labor and income series. These outcomes show maximal correlation between ICA-COR and national PIB quarterly change rates around 0.84, while the turning points of the economy of Córdoba are found within the range of ± 2 months. Thus, the ICA-COR is a coincident indicator of the national economy. In addition, we found an economic recovery at 1999.06 unobserved in the national economy. We also found an economic recovery at 1999.06 unobserved in the national economy.
