Introducing the euro-sting: Short-term indicator of euro area growth

Maximo Camacho and Gabriel Perez-Quiros
Authors registered in the RePEc Author Service: Gabriel Perez Quiros

Journal of Applied Econometrics, 2010, vol. 25, issue 4, 663-694

Abstract: We set out a model to compute short-term forecasts of the euro area GDP growth in real time. To allow for forecast evaluation, we construct a real-time dataset that changes for each vintage date and includes the exact information that was available at the time of each forecast. With this dataset we show that our simple factor model algorithm, which uses an easy-to-replicate methodology, is able to forecast the euro area GDP growth as well as professional forecasters who can combine the best forecasting tools with the possibility of incorporating their own judgement. In this context, we provide examples showing how data revisions and data availability affect point forecasts and forecast uncertainty. Copyright © 2010 John Wiley & Sons, Ltd.

Date: 2010
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Citations: View citations in EconPapers (182)

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Related works:
Working Paper: Introducing the Euro-STING: Short-Term Indicator of Euro Area Growth (2009)
Working Paper: Introducing the EURO-STING: Short Term INdicator of Euro Area Growth (2008)
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DOI: 10.1002/jae.1174

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