Through realized projects HENDYPLAN has shown that technological solutions based on research and methodology can address the toughest problems, and serve as a beacon for developing excellence.

HENDYPLAN earns its reputation through network based activity – our staff work hand in hand with an outstanding network of highly technical and knowledgeable professionals and subject matter experts, as they strive together to build solid, efficient and effective solutions.

Here are some key success stories: 

Back calculation

HENDYPLAN has constructed a valuable tool to reconstruct long series, by applying robust statistical methods and a software solution to use straightforward procedures within a user-friendly environment.

Prof. Domenico Sartore (University of Venice) has supported the work done across projects and activities:

“Back-casting (also Back-calculation, Retrapolation) of time series is very important method which can be interpreted as a reverse forecasting of the past preceding the available actual data. The relevance of back-casting is clear for policy makers and practitioners who often require long time series for model estimation and evaluation. With HENDYPLAN we have developed tailored methodologies for the back- calculation of several structural and short-term economic indicators. Those approaches can be easily extended in other frameworks or adapted to clients needs“. http://venus.unive.it/sartore/

Projects:

• HENDYPLAN, in collaboration with Prof. Tommaso di Fonzo (University of Padua) has produced a tool to reconstruct long series. The tool applies sophisticated methods and a software solution to use straightforward procedures within a user-friendly environment.
  
• HENDYPLAN, in collaboration with Prof. Domenico Sartore (University of Venice), has realized for Eurostat a comprehensive study on methods and results to improve data length for key European economic indicators and realized back-casting of GDP, Industrial production and Employment

Forecasting

HENDYPLAN has developed and experimented with state-of-art techniques to find optimal forecasting solutions and to improve timeliness of statistical series.

Prof. Siem Koopman (University of Amsterdam) has given a valuable contribution to the work done:

“Forecasting time series is of key importance in economics and finance. It is not only forecasting, also the understanding of the dynamic properties of key economic and financial indicators is important for policy making and scenario analysis. In the information society, the availability of data is widespread. However, the finding the appropriate analytical tools for the statistical and econometric analysis of the data is still challenging. Our use of methods related to state space model and the Kalman filter has shown that adequate solutions do exist for time series data with many different features such as trends, cycles, seasonals and their co-movements as well as messy features such as outliers, breaks, missing observations and high-dimensional databases. A large base of software solutions has been developed as C libraries but also within the OxMetrics family of statistical and econometric computer programs”. http://personal.vu.nl/s.j.koopman/

Projects:

• SBAS – HENDYPLAN for CEDEFOP and in collaboration with Prof. Massimiliano Marcellino is currently developing a short-term sectoral-based anticipatory system for labour market trends and skill needs.
  
• EUROMIND – HENDYPLAN for Eurostat and in collaboration with Prof. Tommaso Proietti (University of Padua ) has produced the methodology and tool for producing a monthly indicator of the euro area economic conditions.
  
• HENDYPLAN, in collaboration with Prof. James Mitchell and the NIESR (UK), has implemented a system of flash estimates for key economic indicators for the EU and euro-area.
  
• HENDYPLAN, in collaboration with Prof. Dominique Guegan (University of Paris 1 Panthéon-Sorbonne), has produced a toolbox for combining and pooling forecasts available in an integrated and friendly environment. It is a JAVA-based system, embedded with GAUSS, MATLAB, OX econometric routines, for easier access.

Business Cycle Analysis

HENDYPLAN has developed a comprehensive platform for the computation of business cycle indicators, embedding tools and methods for: parametric and non-parametric dating rules; turning point indicators; univariate and multivariate detrending techniques; parametric and non-parametric convergence and synchronization measures; measures of cyclical transmission.

Prof. Laurent Ferrara (Banque of France and EconomiX Research Centre, University of Paris Ouest) has contributed to the methodological and analytical work:

“The recent global recession has pointed out the importance for policy-makers to better understand business cycle dynamics. For many years the Hendyplan network of experts has been involved in this area of research, especially in the development of cyclical indicators able to nowcast and forecast turning points in the euro area. Such indicators are based on innovative econometric models and have led to many publications in top international academic journals. A battery of cyclical indicators are currently available to monitor economic cycles in real time, for the euro area as whole and its main countries.” http://lo.ferrara.free.fr/

Projects:

• HENDYPLAN for Eurostat and in collaboration with Prof. Kapetanios (Queen Mary University) has created for example an amazing tool monitoring the crisis from the basic statistical data. In one go, an econometric procedure in GAUSS is taking information from the statistical datamart and is producing a financial indicator.
  
• HENDYPLAN, in collaboration with Prof. Siem Koopman (University of Amsterdam) has developed a detailed study and a practical application for defining a comprehensive framework of univariate and multivariate businesses cycle analysis, within an unobserved component model.
  
• HENDYPLAN for Eurostat has been producing quality assessment of the estimates of euro area trend and cycles of key EU and euro-zone economies.
  
• HENDYPLAN in collaboration with Prof. Laurent Ferrara (EconomiX Research Centre) has developed a platform for the computation of BCI, embedding tools and methods for: parametric and non-parametric dating rules; turning point indicators; univariate and multivariate detrending techniques; parametric and non-parametric convergence and synchronization measures; measures of cyclical transmission.

Revision Analysis

HENDYPLAN has designed an implemented an efficient statistical toolkit for performing revision analysis. HENDYPLAN has also constructed, and is currently running, a revision database for analytical purposes.

Prof. Simon Van Norden (HEC Montréal)

“Data revision analysis is playing an increasing role both as a means of providing end-users with transparent assessments of data-reliability and as a means of quality control on statistical agencies’ procedures and methodologies. The team at Hendyplan developed state-of-the-art tools for large-scale analysis of data revisions and together we provided extensive analysis of the revisions in Principal European Economic Indicators.” http://www.hec.ca/en/profs/simon.van-norden.html

Projects:

• HENDYPLAN, for Eurostat, in collaboration with Mr. Dominique Ladiray (INSEE) has developed a statistical toolkit for performing revision analysis for National Accounts.
  
• HENDYPLAN has designed, constructed and implemented a revision database for analytical purposes of the European key economic indicators and data produced by Member States.
  
• HENDYPLAN, in collaboration with Prof. Simon Van Norden (HEC Montréal, Canada), has produced a tool in TROLL computing for revision analysis of large datasets.

Seasonal adjustment

HENDYPLAN has been actively supporting Seasonal Adjustment techniques and tool, both for methodological and practical aspects.

Projects:

• DEMETRA software has been developed and in operation within the European Statistical System for Seasonal adjustment. During 7 years, HENDYPLAN has ensured corrective maintenance, help-desk, training, documentation and has introduced the updated version of TRAMO SEATS and X-12ARIMA.
  
  The final distribution version ensured by HENDYPLAN was 2.2. HENDYPLAN has designed and constructed, and is currently running, a revision database for analytical purposes of the European key economic indicators and data produced by Member States.
  
• HENDYPLAN has developed a statistical toolkit for performing SA for Eurostat National Accounts, ensuring experimental data production and comparative analysis of seasonally adjusted data quality.

Temporal Disaggregation

HENDYPLAN has realized bespoke solid and straightforward solutions for temporal disaggregation and benchmarking issues, in particular in the case of large datasets.

Projects:

• HENDYPLAN, in collaboration with Prof. Tommaso Di Fonzo (University of Padua), updated methodology and introduced mathematical and statistical techniques to carry out univariate and multivariate temporal disaggregation for ECOTRIM – a specific tool for temporal disaggregation.
  
• HENDYPLAN, for Eurostat and in collaboration with Prof. Tommaso Proietti (University of Rome), has carried out a methodological study on advanced methods and techniques for temporal disaggregation and benchmarking techniques and a large simulation exercise.
  
• HENDYPLAN  has developed in JAVA, a tool of methods such as: Modified Denton (Benchmarking); Chow-Lin, Fernàndez, Litterman (regression-based temporal disaggregation); Two-step procedures (system of time series reconciliation); PMRAS (Balancing Techniques)