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Now-Casting and the Real-Time Data-Flow

Reichlin, L., Giannone, D., Banbura, M., Modugno, M.
Date Published: 2013

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.)

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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