ITER A quarterly indicator of regional economic activity in Italy
Valter Di Giacinto (),
Libero Monteforte (),
Andrea Filippone (),
Francesco Montaruli () and
Tiziano Ropele ()
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Valter Di Giacinto: Bank of Italy
Andrea Filippone: Bank of Italy
Francesco Montaruli: Bank of Italy
No 489, Questioni di Economia e Finanza (Occasional Papers) from Bank of Italy, Economic Research and International Relations Area
This work documents the construction of the new quarterly indicator of regional economic activity (Indicatore Trimestrale dell’Economia Regionale – ITER), which uses a parsimonious set of regional variables and combines them by means of temporal disaggregation techniques to obtain a quarterly index that is consistent with the official data on national and regional GDP and marked by a small lag compared with the reference period. The methodology was implemented to produce quarterly indicators for the economies of Italy’s four macro-areas in the period 1995-2017. With a view to assessing the performance of the quarterly indicator, a forecasting exercise was conducted regarding annual GDP growth in the four macro-areas for the period 2014-17. The forecasting performance of ITER is in line with that of the indicators developed by other national research institutions.
Keywords: temporal disaggregation by related series; regional economies benchmarking and extrapolation; real time estimates (search for similar items in EconPapers)
JEL-codes: C22 C61 C82 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:bdi:opques:qef_489_19
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