Are ATM/POS Data Relevant When Nowcasting Private Consumption?
AbstractPolicymakers need timely and reliable information on the current state of the economy as macroeconomic forecasts and policy decisions are strongly affected by the quality and completeness of this assessment. Therefore, forecasters are always in search of new indicators that are related with the macroeconomic variable of interest and available earlier. This paper proposes the use of the ATM/POS data as an indicator to estimate private consumption. An application for Portugal is presented as a case study, where the out of sample performance of this indicator is evaluated against some benchmark naïve models and other alternative bridge models. The results clearly support the use of this information to nowcast non durables private consumption.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by Banco de Portugal, Economics and Research Department in its series Working Papers with number w200925.
Date of creation: 2009
Date of revision:
Find related papers by JEL classification:
- E1 - Macroeconomics and Monetary Economics - - General Aggregative Models
- E27 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Forecasting and Simulation: Models and Applications
- C53 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Forecasting and Prediction Models; Simulation Methods
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Rui Esteves & Jaime Reis, 2007.
"Market Integration in the Golden Periphery,The Lisbon/London Exchange, 1854-1891,"
Economics Series Working Papers
338, University of Oxford, Department of Economics.
- Esteves, Rui Pedro & Reis, Jaime & Ferramosca, Fabiano, 2009. "Market Integration in the Golden Periphery. The Lisbon/London Exchange, 1854-1891," Explorations in Economic History, Elsevier, vol. 46(3), pages 324-345, July.
- Rui Pedro Esteves & Jaime Reis & Fabiano Ferramosca, 2005. "Market Integration in the Golden Periphery - the Lisbon/London Exchange, 1854-1891," Working Papers w200515, Banco de Portugal, Economics and Research Department.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (DEE-NTDD).
If references are entirely missing, you can add them using this form.