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Nowcasting and monitoring SDG 8

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  • Sandra Bilek-Steindl

    (Austrian Institute of Economic Research (WIFO))

  • Thomas Url

    (Austrian Institute of Economic Research (WIFO))

Abstract

We propose a nowcasting approach for indicators assigned to the Sustainable Development Goal (SDG) 8, calling for decent work and economic growth. The nowcasts of SDG indicators are based on dynamic factor models. In this mixed frequency framework, we exploit information from a comprehensive set of quarterly data to nowcast annually observed SDG indicators. For the model selection and specification search we evaluate the nowcast properties of the models based on a pseudo real-time data set. More recent information on SDGs can disclose a possible deviation from the desired path at an early stage. As an example, we present nowcasts for SDG objectives in Austria for the year 2020. The design of our assessment follows the method and quantitative rules suggested by Eurostat. SDG 8 indicators are highly related to the underlying economic situation and the effects of the COVID-19 pandemic are clearly visible in the results for 2020.

Suggested Citation

  • Sandra Bilek-Steindl & Thomas Url, 2022. "Nowcasting and monitoring SDG 8," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 49(2), pages 313-345, May.
    • Handle: RePEc:kap:empiri:v:49:y:2022:i:2:d:10.1007_s10663-022-09533-0
    DOI: 10.1007/s10663-022-09533-0
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    References listed on IDEAS

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    6. Jürgen Bierbaumer-Polly & Sandra Bilek-Steindl & Thomas Url, 2019. "Monitoring and Nowcasting Sustainable Development Goals. A Case Study for Austria," WIFO Studies, WIFO, number 66635, April.
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    Cited by:

    1. Blesse, Sebastian & Heinemann, Friedrich & Nover, Justus, 2022. "Bundesländerindex Familienunternehmen: Standortfaktoren innerhalb Deutschlands im Vergleich," Studien, Stiftung Familienunternehmen / Foundation for Family Businesses, number 264906, June.
    2. Sandra Bilek-Steindl & Claudia Kettner & Christine Mayrhuber, 2022. "Special Issue: Sustainability, Work and Growth in the Context of SDG 8," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 49(2), pages 277-279, May.
    3. Sandra Bilek-Steindl & Thomas Url, 2022. "Frühzeitiges Monitoring der Ziele für eine nachhaltige und inklusive Entwicklung in Österreich. Bewertung der Entwicklung von SDG 8 auf Basis der WIFO-Konjunkturprognose und Nowcasts," WIFO Research Briefs 17, WIFO.
    4. Sandra Bilek-Steindl & Thomas Url, 2023. "Frühzeitiges Monitoring der Ziele für eine nachhaltige und inklusive Entwicklung in Österreich – Aktualisierung 2023. Bewertung der Entwicklung von SDG 8 auf Basis der WIFO-Konjunkturprognose und Nowc," WIFO Research Briefs 11, WIFO.
    5. Beata Bieszk-Stolorz & Krzysztof Dmytrów, 2023. "Decent Work and Economic Growth in EU Countries—Static and Dynamic Analyses of Sustainable Development Goal 8," Sustainability, MDPI, vol. 15(18), pages 1-18, September.

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