Nowcasting

Marta Banbura, Domenico Giannone and Lucrezia Reichlin

Working Papers ECARES from ULB -- Universite Libre de Bruxelles

Abstract: Economists have imperfect knowledge of the present state of the economy and even of the recent past. Many key statistics are released with a long delay and they are subsequently revised. As a consequence, unlike weather forecasters, who know what is the weather today and only have to predict the weather tomorrow, economists have to forecast the present and even the recent past. The problem of predicting the present, the very near future and the very recent past is labelled as nowcasting and is the subject of this paper.

Pages: 36 p.
Date: 2010
New Economics Papers: this item is included in nep-ecm, nep-for and nep-his
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Related works:
Working Paper: Nowcasting (2010)
Working Paper: Nowcasting (2010)
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