GDP Nowcasting: Dynamic Factor Model vs. Official Forecasts

Наукастинг ВВП: динамическая факторная модель и официальные прогнозы

Andrey Zubarev and Konstantin Rybak

Russian Economic Development, 2021, issue 12, 34-40

Abstract: We propose a dynamic factor model for nowcasting GDP, which becomes available with a significant delay in official statistics. Furthermore, we show that obtained nowcasts outperform those made by the Ministry of Economic Development. The article was prepared in the framework of execution of state order by RANEPA.

Keywords: GDP nowcasting; factor model; official forecasts (search for similar items in EconPapers)
JEL-codes: C38 C53 C82 E27 (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:gai:recdev:r21131

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