BoE paper proposes nowcast method for GDP revisions
Dynamic factor model reveals information on how early estimates may be revised, authors say
Research published by the Bank of England outlines a method of nowcasting GDP growth that can account for revisions to early estimates.
In the staff working paper, Nikoleta Anesti, Ana Beatriz Galvão and Silvia Miranda-Agrippino note it is hard when nowcasting to choose between using timely but incomplete early estimates of growth, or waiting for the more complete final figures. They attempt to solve this issue using what they call a “release-augmented” dynamic factor model.
By incorporating
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
More on Data
Bank of England: time for fourth-generation forecasting tools?
Economists suggest ways to improve BoE’s framework ahead of Bernanke’s report
BoE plans upgrades to data collection process
Overhaul includes work on validation, communications with firms and common data standards
Global house prices close to bottoming out, BIS stats show
Economists puzzle over absence of sharper correction
ECB paper examines household inflation differences
French and German consumer data shows heterogeneity is driven by product choice, research finds
Fed paper presents new way to measure consumer welfare
Consumer preferences change in line with incomes, researcher argues
MAS bolsters efforts on transition finance
Central bank issues new taxonomy and will work on phasing out coal
Lower eurozone inflation fuels rate cut speculation
Some analysts expect start of easing cycle earlier in 2024
German inflation falls to 2.3% in November
Falling energy prices lower inflation in the eurozone’s main economy
Most read
- ECB says iPhone is currently incompatible with digital euro
- Supervisors grapple with the smaller bank dilemma
- Central bank of the year: Central Bank of Brazil