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professional forecasters provide GDP forecasts that are temporally consistent, meaning that quarterly forecasts add up to the … estimates of information frictions in some cases. For the overwhelming majority of consistent forecasts, annual GDP predictions … almost immediately reflect the monthly GDP releases. These findings suggest that most forecasters make at least minor …
Persistent link: https://www.econbiz.de/10012816462
opportunities to increase the accuracy of indicator-based forecasts. Focusing on quarterly GDP growth in Germany, we find that the …
Persistent link: https://www.econbiz.de/10010473134
nominal GDP projections are upward biased for longer forecast horizons, which seems to be driven by a false assessment of the …
Persistent link: https://www.econbiz.de/10011958832
We consider simple methods to improve the growth nowcasts and forecasts obtained by mixed frequency MIDAS and UMIDAS models with a variety of indicators during the Covid-19 crisis and recovery period, such as combining forecasts across various specifications for the same model and/or across...
Persistent link: https://www.econbiz.de/10012285550
We analyse the performance of financial market variables in nowcasting Finnish quarterly GDP growth. Especially, we … models that allow us to forecast quarterly GDP growth using monthly or daily data without temporal aggregation in a … parsimonious way. Our results show that financial market data nowcasts Finnish GDP growth relatively well. When it comes to …
Persistent link: https://www.econbiz.de/10012214415
taking into account the supply or production side and the demand side of GDP. The GDP figures calculated by the two sides … usually yield different results and the official GDP release is somewhere in between. We make use of this statistical … procedure by separately modeling the two sides of GDP in a system of bridge equations at the most disaggregate level available …
Persistent link: https://www.econbiz.de/10011900715
We analyse the performance of financial market variables in nowcasting Finnish quarterly GDP growth. In particular, we … models that allow us to nowcast quarterly GDP growth using monthly or daily data without temporal aggregation in a … parsimonious way. We find that financial market data nowcasts Finnish GDP growth relatively well: nowcasting performance is similar …
Persistent link: https://www.econbiz.de/10013286502
We evaluate the forecasting performance of six different models for short-term forecasting of Macedonian GDP: 1) ARIMA … model; 2) AR model estimated by the Kalman filter; 3) model that explains Macedonian GDP as a function of the foreign demand …; 4) small structural model that links GDP components to a small set of explanatory variables; 5) static factor model that …
Persistent link: https://www.econbiz.de/10011623268
The World Economic Outlook (WEO) is a key source of forecasts of global economic conditions. It is therefore important to review the performance of these forecasts against both actual outcomes and alternative forecasts. This paper conducts a series of statistical tests to evaluate the quality of...
Persistent link: https://www.econbiz.de/10012780429
This paper proposes a new way of computing a coincident indicator for economic activity in France using data from business surveys. We use the generalized dynamic factor model not; la Forni and others (2000) to extract common components from a large number of survey observations. The results...
Persistent link: https://www.econbiz.de/10012783195