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Prognosen der regionalen Konjunkturentwicklung

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Author Info

  • Christian Dreger
  • Konstantin A. Kholodilin

Abstract

German business cycle forecasts refer to the whole country. However, the usefulness of these forecasts at the regional level is not uncontroversial. Significant deviations between regional and national forecasts could occur if the sectoral structure is different. In this case, the forecast for the entire economy might be rather uninformative for a specific region. To bridge the gap, we develop a method for business cycle forecasts at the regional level which can be applied for the German states. In particular, the regional evolution is explained by the national economic development and regional indicators. The latter are determined by means of a principal component analysis from a huge set of time series. Using this approach, we are able to forecast the regional performance for the current year and the year ahead. The principal technique is illustrated for the state of Berlin. Vorhersagen der konjunkturellen Entwicklung werden in Deutschland meist für die Ebene der Gesamtwirtschaft durchgeführt. Sie sind jedoch nicht auf die regionalen Verhältnisse übertragbar. Signifikante Abweichungen können sich unter anderem wegen einer unterschiedlichen Sektoralstruktur ergeben. Eventuell liefert die gesamtwirtschaftliche Prognose ein verzerrtes Bild, wenn es darum geht, die künftige wirtschaftliche Entwicklung in der Region zu beurteilen. Daher wird hier ein Verfahren zur Prognose der regionalen Wirtschaftsentwicklung diskutiert, das auf der Ebene der einzelnen Bundesländer einsetzbar ist. Darin wird die regionale Entwicklung zum einen durch den gesamtwirtschaftlichen Verlauf erklärt. Zum anderen sind regionalspezifische Indikatoren entscheidend, die im Rahmen einer Hauptkomponentenanalyse bestimmt werden. Das Verfahren erlaubt eine verlässliche Vorhersage der regionalen Entwicklung in den einzelnen Bundesländern im laufenden und im folgenden Jahr. Die Methode wird exemplarisch für das Land Berlin dargestellt.

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File URL: http://ejournals.duncker-humblot.de/doi/pdf/10.3790/vjh.76.4.47
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Bibliographic Info

Article provided by DIW Berlin, German Institute for Economic Research in its journal Vierteljahrshefte zur Wirtschaftsforschung.

Volume (Year): 76 (2007)
Issue (Month): 4 ()
Pages: 47-55

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Handle: RePEc:diw:diwvjh:76-4-5

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Related research

Keywords: Regional economy; forecasting; principal component analysis;

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References

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  1. Banerjee, Anindya & Marcellino, Massimiliano & Masten, Igor, 2005. "Forecasting macroeconomic variables for the new member states of the European Union," Working Paper Series 0482, European Central Bank.
  2. Tommaso Proietti, 2006. "Temporal disaggregation by state space methods: Dynamic regression methods revisited," Econometrics Journal, Royal Economic Society, vol. 9(3), pages 357-372, November.
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Citations

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Cited by:
  1. Robert Lehmann & Klaus Wohlrabe, 2012. "Forecasting GDP at the Regional Level with Many Predictors," CESifo Working Paper Series 3956, CESifo Group Munich.
  2. Rüdiger Hamm, 2011. "Creative Class as a Determinant of Economic Development - Empirical Considerations for Northrhine-Westphalian Regions based on Time-Series Analysis," ERSA conference papers ersa11p828, European Regional Science Association.
  3. Joachim Ragnitz & Stefan Arent & Wolfgang Nierhaus & Beate Schirwitz & Johannes Steinbrecher & Gerit Vogt & Björn Ziegenbalg, 2010. "Methodenexpertise zur Analyse der Auswirkungen der internationalen Finanz- und Wirtschaftskrise auf die Wirtschaft im Land Brandenburg : Gutachten im Auftrag des Ministeriums für Wirtschaft des Lande," ifo Dresden Studien, Ifo Institute for Economic Research at the University of Munich, number 53.
  4. Robert Lehmann & Klaus Wohlrabe, 2012. "Die Prognose des Bruttoinlandsprodukts auf regionaler Ebene," Ifo Schnelldienst, Ifo Institute for Economic Research at the University of Munich, vol. 65(21), pages 17-23, November.
  5. Lehmann, Robert & Wohlrabe, Klaus, 2013. "Sectoral gross value-added forecasts at the regional level: Is there any information gain?," MPRA Paper 46765, University Library of Munich, Germany.
  6. Beate Schirwitz & Christian Seiler & Klaus Wohlrabe, 2009. "Regionale Konjunkturzyklen in Deutschland – Teil I: Die Datenlage," Ifo Schnelldienst, Ifo Institute for Economic Research at the University of Munich, vol. 62(13), pages 18-24, 07.
  7. Wenzel, Lars & Wolf, André, 2013. "Short-term forecasting with business surveys: Evidence for German IHK data at federal state level," HWWI Research Papers 140, Hamburg Institute of International Economics (HWWI).
  8. Robert Lehmann & Klaus Wohlrabe, 2014. "Forecasting gross value-added at the regional level: are sectoral disaggregated predictions superior to direct ones?," Jahrbuch für Regionalwissenschaft, Springer, vol. 34(1), pages 61-90, February.
  9. Konstantin A. Kholodilin & Boriss Siliverstovs & Stefan Kooths, 2007. "A Dynamic Panel Data Approach to the Forecasting of the GDP of German Länder," Discussion Papers of DIW Berlin 664, DIW Berlin, German Institute for Economic Research.
  10. Wenzel, Lars, 2013. "Forecasting regional growth in Germany: A panel approach using business survey data," HWWI Research Papers 133, Hamburg Institute of International Economics (HWWI).

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