Name: Finance and Economics Discussion Series: Nowcasting Gdp and Inflation: The Real-Time Informational Content of Macroeconomic Data Releases (en Inglés)
Price: 25.04 USD
Availability: InStock
Author: United States Federal Reserve Board ; Et Al ; Giannone, Domenico
ISBN: 9781288711437

portada Finance and Economics Discussion Series: Nowcasting Gdp and Inflation: The Real-Time Informational Content of Macroeconomic Data Releases (en Inglés)

Formato

Libro Físico

Autor

United States Federal Reserve Board

Domenico Giannone

Editorial

Bibliogov

Idioma

Inglés

N° páginas

Encuadernación

Tapa Blanda

Dimensiones

24.6 x 18.9 x 0.3 cm

Peso

0.10 kg.

ISBN13

9781288711437

Categorías

Política y gobierno

Finance and Economics Discussion Series: Nowcasting Gdp and Inflation: The Real-Time Informational Content of Macroeconomic Data Releases (en Inglés)

United States Federal Reserve Board (Autor) · Domenico Giannone (Autor) · Bibliogov · Tapa Blanda

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Reseña del libro "Finance and Economics Discussion Series: Nowcasting Gdp and Inflation: The Real-Time Informational Content of Macroeconomic Data Releases (en Inglés)"

This paper formalizes the process of updating the nowcast and forecast on output and inflation as new releases of data become available. The marginal contribution of a particular release for the value of the signal and its precision is evaluated by computing "news" on the basis of an evolving conditioning information set. The marginal contribution is then split into what is due to timeliness of information and what is due to economic content. We find that the Federal Reserve Bank of Philadelphia surveys have a large marginal impact on the nowcast of both inflation variables and real variables, and this effect is larger than that of the Employment Report. When we control for timeliness of the releases, the effect of hard data becomes sizeable. Prices and quantities affect the precision of the estimates of inflation, while GDP is affected only by real variables and interest rates.