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Forecast of Gross Domestic Product at a Regional Level

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  • Robert Lehmann
  • Klaus Wohlrabe

Abstract

Forecasts of economic developments at a regional level have been fairly rare to date both in scientific literature and in practice. This is primarily due to a lack of quarterly data and the existence of very few potential indicators at a regional level. This article shows the extent to which it is possible to forecast gross domestic product for Saxony and Eastern Germany respectively. International, national and regional indicators are used in the forecasting process. Various combination approaches are employed in addition to simple model forecasts. This makes it possible to significantly improve simple benchmark models.

Suggested Citation

  • Robert Lehmann & Klaus Wohlrabe, 2012. "Forecast of Gross Domestic Product at a Regional Level," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 65(21), pages 17-23, November.
    • Handle: RePEc:ces:ifosdt:v:65:y:2012:i:21:p:17-23
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    6. Brautzsch, Hans-Ulrich & Ludwig, Udo, 2002. "Vierteljährliche Entstehungsrechnung des Bruttoinlandsprodukts für Ostdeutschland: Sektorale Bruttowertschöpfung," IWH Discussion Papers 164/2002, Halle Institute for Economic Research (IWH).
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    8. Chow, Gregory C & Lin, An-loh, 1971. "Best Linear Unbiased Interpolation, Distribution, and Extrapolation of Time Series by Related Series," The Review of Economics and Statistics, MIT Press, vol. 53(4), pages 372-375, November.
    9. G. Elliott & C. Granger & A. Timmermann (ed.), 2006. "Handbook of Economic Forecasting," Handbook of Economic Forecasting, Elsevier, edition 1, volume 1, number 1.
    10. Beate Schirwitz & Christian Seiler & Klaus Wohlrabe, 2009. "Regional business cycles in Germany - the dating problem," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 62(14), pages 24-31, July.
    11. Nikolay Robinzonov & Klaus Wohlrabe, 2010. "Freedom of Choice in Macroeconomic Forecasting ," CESifo Economic Studies, CESifo Group, vol. 56(2), pages 192-220, June.
    12. Stefan Arent & Michael Kloß & Robert Lehmann, 2012. "Konjunkturprognose Ostdeutschland und Sachsen 2011/2012: Europäische Schuldenkrise lähmt gesamtwirtschaftliche Expansion," ifo Dresden berichtet, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 19(01), pages 11-20, February.
    13. Klaus Abberger & Wolfgang Nierhaus, 2008. "Ifo capacity utilisation – a coincident indicator for business activity in German manufacturing," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 61(16), pages 15-23, August.
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    Cited by:

    1. Christian Seiler & Klaus Wohlrabe, 2013. "The Ifo Business Climate and the German Economy," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 66(18), pages 17-21, October.

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    More about this item

    JEL classification:

    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes
    • L10 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - General

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