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Now-casting and the real-time data flow

  • Banbura, Marta
  • Giannone, Domenico
  • Modugno, Michele
  • Reichlin, Lucrezia

The term now-casting is a contraction for now and forecasting and has been used for a long-time in meteorology and recently also in economics In this paper we survey recent developments on economic now-casting with special focus on those models that formalize key features of how market participants and policy makers read macroeconomic data releases in real time, which involves: monitoring many data, forming expectations about them and revising the assessment on the state of the economy whenever realizations diverge sizeably from those expectations.

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Paper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 9112.

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Date of creation: Sep 2012
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Handle: RePEc:cpr:ceprdp:9112
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