The quantification of qualitative survey data: A critical assessment

Michela Nardo

    Research output: Contribution to journalArticleResearchpeer-review

    77 Citations (Scopus)


    Data obtained from business and consumer surveys are often used in forecasting models and in testing different expectation formation schemes. Their use, however, requires a previous step of transformation of the qualitative data into quantitative figures. This paper contains a critical review of the different quantification methods, highlighting the limits of their use in macroeconomic modelling.
    Original languageEnglish
    Pages (from-to)645-668
    JournalJournal of Economic Surveys
    Issue number5
    Publication statusPublished - 1 Dec 2003


    • Measurement error
    • Probability approach
    • Quantification methods
    • Regression approach
    • Survey data


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