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Nowcasting is not just contemporaneous forecasting

Abstract:

We consider the reasons for nowcasting, the timing of information and sources thereof, especially contemporaneous data, which introduce different aspects compared to forecasting. We allow for the impact of location shifts inducing nowcast failure and nowcasting during breaks, probably with measurement errors. We also apply a variant of the nowcasting strategy proposed in Castle and Hendry (2009) to nowcast Euro Area GDP growth. Models of disaggregate monthly indicators are built by automatic ...

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Publication status:
Published
Peer review status:
Peer reviewed
Version:
Accepted Manuscript

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Publisher copy:
10.1177/0027950109354412

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Institution:
University of Oxford
Department:
Oxford, SSD, Economics
Role:
Author
More by this author
Institution:
University of Oxford
Department:
Oxford, SSD, Economics, EMOD
Role:
Author
Publisher:
SAGE Publishing Publisher's website
Journal:
National Institute Economic Review Journal website
Issue:
1
Publication date:
2009-10-01
DOI:
EISSN:
1741-3036
ISSN:
0027-9501
Pubs id:
pubs:296724
URN:
uri:00c972f5-0621-4209-954a-627dceecf1c5
UUID:
uuid:00c972f5-0621-4209-954a-627dceecf1c5
Local pid:
pubs:296724

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