Now-Casting and the Real-Time Data Flow

Bańbura, Marta, Domenico Giannone, Michele Modugno and Lucrezia Reichlin

Chapter Chapter 4 in Handbook of Economic Forecasting, 2013, vol. 2, pp 195-237 from Elsevier

Abstract: The term now-casting is a contraction for now and forecasting and has been used for a long time in meteorology and recently also in economics. In this chapter we survey recent developments in economic now-casting with special focus on those models that formalize key features of how market participants and policymakers read macroeconomic data releases in real-time, which involves monitoring many data, forming expectations about them and revising the assessment on the state of the economy whenever realizations diverge sizeably from those expectations.

Keywords: Macroeconomic news; Macroeconomic forecasting; High-dimensional data; Real-time data; Mixed frequency; Dynamic factor model (search for similar items in EconPapers)
Date: 2013
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Citations: View citations in EconPapers (169)

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Related works:
Working Paper: Now-casting and the real-time data flow (2013)
Working Paper: Now-casting and the real-time data flow (2012)
Working Paper: Now-Casting and the Real-Time Data Flow (2012)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecofch:2-195

DOI: 10.1016/B978-0-444-53683-9.00004-9

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