LATCOIN: Determining Medium to Long-Run Tendencies of Economic Growth in Latvia in Real Time

Konstantins Benkovskis

No 2010/01, Working Papers from Latvijas Banka

Abstract: This paper presents a method of estimating the current state of Latvia's economy. The evaluation object is medium to long-run growth of real GDP, but not actual GDP itself, which helps to filter out various one-off effects and focus on medium and long-run tendencies. Our indicator, called LATCOIN (Latvia's Business Cycle Coincidence Indicator), could be viewed as a simple adaptation of EUROCOIN for Latvia with some changes in methodology. LATCOIN is a monthly estimate of the medium to long-run growth of Latvia's real GDP, which is produced on the 9th working day of the next month. Using a large panel of macroeconomic variables, few smooth unobservable factors describing the economy are constructed. Further, these factors are used for the estimation of LATCOIN.

Keywords: Latvia's real GDP; band-pass filter; coincidence indicator; generalised principal components; real-time performance; turning points (search for similar items in EconPapers)
JEL-codes: C22 C50 E32 (search for similar items in EconPapers)
Date: 2010-01-25
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://www.bank.lv/public_files/images/img_lb/izd ... 2010-1_benkovsky.pdf (application/pdf)
https://www.macroeconomics.lv/sites/default/files/wp_2010-1_benkovsky.pdf (application/pdf)

Related works:
Journal Article: LATCOIN: determining medium to long-run tendencies of economic growth in Latvia in real time (2010)
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:ltv:wpaper:201001

Access Statistics for this paper

More papers in Working Papers from Latvijas Banka Contact information at EDIRC.
Bibliographic data for series maintained by Konstantins Benkovskis ().