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"Keep it real!": A real-time UK macro data set

Author

Listed:
  • Shaun P. Vahey

    (University of Cambridge)

  • Andreas Pick

    (University of Cambridge)

  • Don M. Egginton

    (Daiwa Institute of Research Europe)

Abstract

We present a real-time macro data set for the UK. Each variable has many different vintages - reflecting the revisions and s that occur over time. Our aim is to provide a resource for researchers evaluating UK forecasting performance and policy-making in real time. We illustrate the importance of these data by analysing their impacts on UK inflation forecasts and monetary policy in the late 1980s. We find that, contrary to the view of contemporary policy-makers, the initial measurements of demand-side macro variables did not disguise inflationary pressures.

Suggested Citation

  • Shaun P. Vahey & Andreas Pick & Don M. Egginton, 2001. ""Keep it real!": A real-time UK macro data set," Economics Bulletin, AccessEcon, vol. 28(18), pages 1.
    • Handle: RePEc:ebl:ecbull:eb-01aa0022
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    References listed on IDEAS

    as
    1. Athanasios Orphanides & Simon van Norden, 2002. "The Unreliability of Output-Gap Estimates in Real Time," The Review of Economics and Statistics, MIT Press, vol. 84(4), pages 569-583, November.
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    6. Patterson, K. D., 1994. "A state space model for reducing the uncertainty associated with preliminary vintages of data with an application to aggregate consumption," Economics Letters, Elsevier, vol. 46(3), pages 215-222, November.
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    More about this item

    JEL classification:

    • C8 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit

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