This paper describes how we constructed a real-time database for the euro area covering more than 200 series regularly … before their first meeting of the month. We describe the database in details and study the properties of the euro area real-time … revisions can contribute to the uncertainty surrounding key macroeconomic ratios and the NAIRU. - Real-time ; euro area …

important results: (i) Spot and forward rates are explicit functions of the number of policy meetings during the time to … maturity rather than the time to maturity itself. Consequently, the forward rate curve is step-shaped. (ii) In addition, there … are calendar time effects, i.e. the position within the policy cycle is also of importance, especially for short term …