ECB paper suggests faster methods for estimating eurozone employment
Nowcasting tools outperform models currently used by ECB, researchers say
A working paper published by the European Central Bank presents a new approach to estimating the performance of the eurozone’s labour market.
In Nowcasting employment in the euro area, Marta Bańbura, Irina Belousova, Katalin Bodnár and Máté Barnabás Tóth aim at improving the timeliness of labour data. Official statistics on the eurozone’s labour market “are published with a considerable lag, longer than in the case of real GDP”, the authors note.
They present a suite of models designed to
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