Established nowcasting techniques generally use as inputs two types of economic data: directly quantifiable variables, mostly referred to as hard data, and survey-based measures of the economy, or soft data. In this paper we increase the dimensionality of the nowcasting input data set by...

In light of recent calls for further validation of structural models, this paper evaluates the popular Dynamic Quality Ladder model of the Ericson and Pakes (1995) empirical framework using the nonrandom holdout approach of Keane and Wolpin (2007). The model is used to predict data following a...