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A real-time database for the euro area

Author

Listed:
  • Matteo Ciccarelli
  • Günter Coenen
  • Jérôme Henry

Abstract

The euro area Real-Time DataBase is a project co-ordinated by the Euro Area Business Cycle Network, in co-operation with a number of European central banks, including the ECB. The first outcome of this project, produced jointly by ECB’s Directorates General Research and Statistics, is a database comprising selected macroeconomic time series for the euro area, as reported in each issue of the ECB’s Monthly Bulletin. Following a brief summary of the various steps involved, this article illustrates the relevance of building such a database by providing statistics on the revisions affecting some key macroeconomic variables. It also demonstrates the potential consequences of the implied degree of data uncertainty for monetary policy-making, and indicates how the project is expected to develop. JEL Classification: C01, C82, E24, E58

Suggested Citation

  • Matteo Ciccarelli & Günter Coenen & Jérôme Henry, 2006. "A real-time database for the euro area," Research Bulletin, European Central Bank, vol. 5, pages 6-8.
    • Handle: RePEc:ecb:ecbrbu:2006:0005:2
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    File URL: http://www.ecb.europa.eu/pub/pdf/other/researchbulletin05en.pdf
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    Citations

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    Cited by:

    1. Hofmann, Boris, 2009. "Do monetary indicators lead euro area inflation?," Journal of International Money and Finance, Elsevier, vol. 28(7), pages 1165-1181, November.
    2. Ciccarelli, Matteo & Altavilla, Carlo, 2007. "Information combination and forecast (st)ability evidence from vintages of time-series data," Working Paper Series 846, European Central Bank.

    More about this item

    Keywords

    real-time data; revisions; monetary policy; euro area;
    All these keywords.

    JEL classification:

    • C01 - Mathematical and Quantitative Methods - - General - - - Econometrics
    • C82 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Macroeconomic Data; Data Access
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies

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