Now-Casting and the Real-Time Data-FlowReichlin, 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.
This abstract was borrowed from another version of this item.)
NowcastingReichlin, L., Giannone, D., Banbura, M. Date Published: 2011
Money and Monetary Policy: The ECB Experience 1999-2006Reichlin, L., Fischer, B., Lenza, M., Pill, H. Date Published: 2007
Abstract:
The paper analyses the practical experience of monetary analysis at the ECB since its beginning. The analysis is based on both a narrative description of the internal briefing and a quantitative evaluation of the forecast exercise. We exploit a rich data basis containing the vintages of data and models over the period in order to evaluate the role of money in the input and the output of monetary policy as it has been in real time.
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