Nowcasting economic activity in European regions using a mixed-frequency dynamic factor model

Luca Barbaglia, Lorenzo Frattarolo, Niko Hauzenberger, Dominik Hirschbuehl, Florian Huber, Luca Onorante, Michael Pfarrhofer and Luca Tiozzo Pezzoli
Authors registered in the RePEc Author Service: Dominik Hirschbühl

Papers from arXiv.org

Abstract: Timely information about the state of regional economies can be essential for planning, implementing and evaluating locally targeted economic policies. However, European regional accounts for output are published at an annual frequency and with a two-year delay. To obtain robust and more timely measures in a computationally efficient manner, we propose a mixed-frequency dynamic factor model that accounts for national information to produce high-frequency estimates of the regional gross value added (GVA). We show that our model produces reliable nowcasts of GVA in 162 regions across 12 European countries.

Date: 2024-01
New Economics Papers: this item is included in nep-ecm, nep-eec, nep-eur, nep-geo and nep-ure
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://arxiv.org/pdf/2401.10054 Latest version (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:arx:papers:2401.10054

Access Statistics for this paper

More papers in Papers from arXiv.org
Bibliographic data for series maintained by arXiv administrators ().