Evaluation of Luxembourg paper produces ‘encouraging’ results
Working paper evaluates monthly indicator it uses to forecast GDP
The monthly indicator used by the Central Bank of Luxembourg to analyse the business cycle and forecast GDP growth between 2007 and 2013 delivered a "satisfactory" performance, according to research published yesterday.
The working paper, 2007–13: This is what the indicator told us – evaluating the performance of real-time nowcasts from a dynamic factor model, notes the indicators were developed using a database of around 100 economic and financial time series.
The author, Muriel Nguiffo-Boyom
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