Nowcasting Irish GDP:
This paper presents a dynamic factor model that produces nowcasts and backcasts of Irish quarterly GDP using timely data from a panel dataset of 35 indicators. We apply a recently developed methodology, whereby numerous potentially useful indicator series for Irish GDP can be availed of in a parsimo...
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| Format: | Elektronisch Buchkapitel |
| Sprache: | English |
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Paris
OECD Publishing
2012
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| Online-Zugang: | UBA01 UBG01 UEI01 UER01 UPA01 UBR01 UBW01 FFW01 FNU01 EUV01 FRO01 FHR01 FHN01 TUM01 FHI01 UBM01 Volltext |
| Zusammenfassung: | This paper presents a dynamic factor model that produces nowcasts and backcasts of Irish quarterly GDP using timely data from a panel dataset of 35 indicators. We apply a recently developed methodology, whereby numerous potentially useful indicator series for Irish GDP can be availed of in a parsimonious manner and the unsynchronised nature of the release calendar for a wide range of higher frequency indicators can be handled. The nowcasts in this paper are generated by using dynamic factor analysis to extract common factors from the panel dataset. Bridge equations are then used to relate these factors to quarterly GDP estimates. We conduct an out-of-sample forecasting simulation exercise, where the results of the nowcasting exercise are compared with those of a standard benchmark model |
| Beschreibung: | 1 Online-Ressource (11 Seiten) 21 x 28cm |
| DOI: | 10.1787/jbcma-2012-5k92n2pwccwb |
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Datensatz im Suchindex
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| author | D'Agostino, Antonello |
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| author_facet | D'Agostino, Antonello McQuinn, Kieran O'Brien, Derry |
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| doi_str_mv | 10.1787/jbcma-2012-5k92n2pwccwb |
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| spelling | D'Agostino, Antonello Verfasser aut Nowcasting Irish GDP Antonello D'Agostino, Kieran McQuinn and Derry O'Brien Paris OECD Publishing 2012 1 Online-Ressource (11 Seiten) 21 x 28cm txt rdacontent c rdamedia cr rdacarrier This paper presents a dynamic factor model that produces nowcasts and backcasts of Irish quarterly GDP using timely data from a panel dataset of 35 indicators. We apply a recently developed methodology, whereby numerous potentially useful indicator series for Irish GDP can be availed of in a parsimonious manner and the unsynchronised nature of the release calendar for a wide range of higher frequency indicators can be handled. The nowcasts in this paper are generated by using dynamic factor analysis to extract common factors from the panel dataset. Bridge equations are then used to relate these factors to quarterly GDP estimates. We conduct an out-of-sample forecasting simulation exercise, where the results of the nowcasting exercise are compared with those of a standard benchmark model Economics Ireland McQuinn, Kieran ctb O'Brien, Derry ctb https://doi.org/10.1787/jbcma-2012-5k92n2pwccwb Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | D'Agostino, Antonello Nowcasting Irish GDP Economics Ireland |
| title | Nowcasting Irish GDP |
| title_auth | Nowcasting Irish GDP |
| title_exact_search | Nowcasting Irish GDP |
| title_exact_search_txtP | Nowcasting Irish GDP |
| title_full | Nowcasting Irish GDP Antonello D'Agostino, Kieran McQuinn and Derry O'Brien |
| title_fullStr | Nowcasting Irish GDP Antonello D'Agostino, Kieran McQuinn and Derry O'Brien |
| title_full_unstemmed | Nowcasting Irish GDP Antonello D'Agostino, Kieran McQuinn and Derry O'Brien |
| title_short | Nowcasting Irish GDP |
| title_sort | nowcasting irish gdp |
| topic | Economics Ireland |
| topic_facet | Economics Ireland |
| url | https://doi.org/10.1787/jbcma-2012-5k92n2pwccwb |
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