The HPD Fan Chart with Data Revision

The current implementation of the Fan Chart displays equal tail probability bands and do not take into account that the variable of interest may be subject to data revision. In this note I propose the use of Highest Probability Density, HPD, bands and include flexibility to display the risks related to data revision. Click here to obtain a Visual Basic for Excel routine. Please save the as FanChartGdpGrowth.xls and enable Macros to run the program.

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