Nowcasting Unpaid Production Activity and Quality Adjustments in Public Service

Fotis Papailias and George Kapetanios

Discussion Papers from Economic Statistics Centre of Excellence

Abstract: Economists are so focused on key macroeconomic variables, such as the GDP, Inflation, Unemployment, Industrial Production, Retail Sales, etc., who often omit or skip variables which are more qualitative in nature but of key importance for social conditions and living. These variables include the Unpaid Household Production Activity as well as Quality Adjustment for Public Service Productivity. This research attempts to provide a generic methodological framework for a dynamic nowcasting of such variables and assist relevant economists and statisticians in tracking of these low frequency qualitative variables.

Keywords: Nowcasting; Factor Models; Penalised Regression; Neural Networks; Support Vector Regression (search for similar items in EconPapers)
JEL-codes: C53 E37 (search for similar items in EconPapers)
Date: 2023-11-17
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Persistent link: https://EconPapers.repec.org/RePEc:eoe:escoed:escoe-dp-2023-20

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