美国《2017年减税和就业法案》在企业净现金流量方面引入了一个重大的数据错误

Q3 Social Sciences Journal of Economic and Social Measurement Pub Date : 2019-01-01 DOI:10.3233/JEM-190460

Laurel J. Fish, Dennis Halcoussis, G. Phillips

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引用次数: 0

摘要

最近，针对主要现金流系列(例如，美联储经济数据系列，企业净现金流与库存估值调整)的一次性会计“汇回税”费用在2017年第4季度引入了重大变化，这是一个会计人为因素。本笔记演示了费用的计量经济学影响，并说明了如何将其收回，从而产生一系列与经济活动一致的结果。如果没有建议的调整，该系列本质上是一个永久性的异常值，其幅度如此之大，以至于在分析中包含2017年第4季度数据点时，它可能会扭曲回归系数和统计模型。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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The U.S. “2017 Tax Cuts & Jobs Act” introduces a significant data error in corporate net cash flow

A recent one-time accounting “repatriation tax” charge against a leading cash flow series (e.g., Federal Reserve Economic Data series, Corporate Net Cash Flow with Inventory Valuation Adjustment) introduces a significant change in 4 Quarter, 2017 that is an accounting artifact. This note demonstrates the econometric impact of the charge and illustrates how to back it out resulting in a series consistent with economic activity. Without the proposed adjustment, the series has what is essentially a permanent outlier that is of such magnitude that it can distort regression coefficients and statistical models when the 4 Quarter, 2017 datapoint is included in analysis.

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来源期刊

Journal of Economic and Social Measurement Social Sciences-Social Sciences (all)

CiteScore

1.60

自引率

0.00%

发文量

期刊介绍： The Journal of Economic and Social Measurement (JESM) is a quarterly journal that is concerned with the investigation of all aspects of production, distribution and use of economic and other societal statistical data, and with the use of computers in that context. JESM publishes articles that consider the statistical methodology of economic and social science measurements. It is concerned with the methods and problems of data distribution, including the design and implementation of data base systems and, more generally, computer software and hardware for distributing and accessing statistical data files. Its focus on computer software also includes the valuation of algorithms and their implementation, assessing the degree to which particular algorithms may yield more or less accurate computed results. It addresses the technical and even legal problems of the collection and use of data, legislation and administrative actions affecting government produced or distributed data files, and similar topics. The journal serves as a forum for the exchange of information and views between data producers and users. In addition, it considers the various uses to which statistical data may be put, particularly to the degree that these uses illustrate or affect the properties of the data. The data considered in JESM are usually economic or social, as mentioned, but this is not a requirement; the editorial policies of JESM do not place a priori restrictions upon the data that might be considered within individual articles. Furthermore, there are no limitations concerning the source of the data.