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Die geplante Stärkung der Eigenverantwortlichkeit der Länder im Zuge der Föderalismusreformen wird zu einem erhöhten Bedarf an Konjunkturprognosen für Bundesländer führen. Während in Deutschland für die Konjunkturbeobachtung auf gesamtstaatlicher Ebene Quartalsdaten zur Verfügung...
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Nach Jahren überaus kräftigen Wachstums, ist die Industrie in diesem Jahr in die konjunkturelle Abschwungphase eingetreten und wird deshalb im Jahresdurchschnitt 2008 nur noch ein Wachstum von 1,8 Prozent erreichen. Ursächlich hierfür sind vor allem die sich abschwächende Weltkonjunktur und...
Persistent link: https://www.econbiz.de/10011601921
Economic policy makers, international organisations and private-sector forecasters commonly use short-term forecasts of real GDP growth based on monthly indicators, such as industrial production, retail sales and confidence surveys. An assessment of the reliability of such tools and of the...
Persistent link: https://www.econbiz.de/10011604668
The ECB objective is set in terms of year on year growth rate of the Euro area HICP. Nonetheless, a good deal of attention is given to national data by market analysts when they try to anticipate monetary policy moves. In this paper we use the Generalized Dynamic Factor model to develop a set of...
Persistent link: https://www.econbiz.de/10011604946
content and its potential use for fiscal forecasting and monitoring purposes. The models are estimated with annual and …
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. Nevertheless, their forecasting properties are still barely explored. We fill this gap by comparing the quality of real … priors from a DSGE model. We show that the analyzed DSGE model is relatively successful in forecasting the US economy in the … accurate short-term forecasts for interest rates. Conditional on experts' now casts, however, the forecasting power of the DSGE …
Persistent link: https://www.econbiz.de/10011605156
This paper studies real-time measures of the output gap and fiscal policy stance estimates for EU countries. We construct a comprehensive real-time data set on fiscal forecasts and study whether there are systematic differences between the European Commission and IMF estimates of the output gap...
Persistent link: https://www.econbiz.de/10012037657