article · London Business School Research Online (London Business School) · 2011

Nowcasting

BańBura, M, Giannone, D, Reichlin, L

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Abstract

This article presents a statistical framework for estimating the current state of the economy (together with the recent past and near future) in a way in which the latest releases of high-frequency economic data can be incorporated, and in a way in which the impact of the latest release on the forecast can be readily assessed (providing a narrative to the changes in the estimate/forecast over time as more information accrues). It is organized as follows. Section 2 defines the problem of nowcasting in general and relates it to the concept of news in macroeconomic data releases. Section 3 explains the details of the approach. Section 4 discusses related literature. Section 5 illustrates the characteristics of the model via an application to the nowcast of GDP and inflation in the euro area. Section 6 discusses issues for further research, while Section 7 concludes.

Cite this paper

APA 7

BańBura, M., Giannone, D., & Reichlin, L. (2011). Nowcasting. London Business School Research Online (London Business School).

MLA 9

BańBura, M, et al. “Nowcasting.” London Business School Research Online (London Business School), 2011.

Chicago

BańBura, M, D Giannone, and L Reichlin. 2011. “Nowcasting.” London Business School Research Online (London Business School).

Harvard

BańBura, M., Giannone, D. and Reichlin, L. (2011) ‘Nowcasting’, London Business School Research Online (London Business School).

BibTeX

@article{banbura2011nowcasting,
  title = {{Nowcasting}},
  author = {BańBura, M and Giannone, D and Reichlin, L},
  journal = {London Business School Research Online (London Business School)},
  year = {2011}
}

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