Indicadores Líderes del IMACEC

Luis Firinguetti and Hernán Rubio

Working Papers Central Bank of Chile from Central Bank of Chile

Abstract: The purpose of this work is to develop a leading indicator for the Imacec, a monthly indicator of the Chilean economic activity. The indicator proposed herein is based on the classical methodology of the NBER, but with one major difference: the use of a Ridge regression to aggregate the series. In fact, several Ridge regression estimators are used, producing similar results. This methodology seems promising and the leading indicator proposed deserves follow-up and further investigation.

Date: 2003-04
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Persistent link: https://EconPapers.repec.org/RePEc:chb:bcchwp:208

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