Now-Casting and the Real-Time Data-Flow
Handbook of Econometrics of Forecasting, volume 2 edited by G. Elliott and A. Timmermann, 2013.
Reichlin, L., Giannone, D., Banbura, M., Modugno, M.
Date Published: 2013
Abstract:
The term now-casting is a contraction for now and forecasting and has been used for a long-time in meteorology and recently also in economics In this paper we survey recent developments on economic now-casting with special focus on those models that formalize key features of how market participants and policy makers read macroeconomic data releases in real time, which involves: monitoring many data, forming expectations about them and revising the assessment on the state of the economy whenever realizations diverge sizeably from those expectations.
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Citation:
Reichlin, L., Giannone,D., Banbura, M., Modugno, M."Now-Casting and the Real-Time Data-Flow"G. Elliott and A. Timmermann, eds., Handbook of Economic Forecasting, Volume 2, Elsevier-North Holland.
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