A real-time database for the euro area

Matteo Ciccarelli, Günter Coenen and Jerome Henry

Research Bulletin, 2006, vol. 5, 6-8

Abstract: The euro area Real-Time DataBase is a project co-ordinated by the Euro Area Business Cycle Network, in co-operation with a number of European central banks, including the ECB. The first outcome of this project, produced jointly by ECB’s Directorates General Research and Statistics, is a database comprising selected macroeconomic time series for the euro area, as reported in each issue of the ECB’s Monthly Bulletin. Following a brief summary of the various steps involved, this article illustrates the relevance of building such a database by providing statistics on the revisions affecting some key macroeconomic variables. It also demonstrates the potential consequences of the implied degree of data uncertainty for monetary policy-making, and indicates how the project is expected to develop. JEL Classification: C01, C82, E24, E58

Keywords: real-time data; revisions; monetary policy; euro area (search for similar items in EconPapers)
Date: 2006-12
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Persistent link: https://EconPapers.repec.org/RePEc:ecb:ecbrbu:2006:0005:2

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