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A real-time historical database for the OECD

Author

Listed:
  • Adriana Fernandez
  • Evan F. Koenig
  • Alex Nikolsko-Rzhevskyy

Abstract

Ongoing economic globalization makes real-time international data increasingly relevant, though little work has been done on collecting and analyzing real-time data for economies other than the U.S. In this paper, we introduce and examine a new international real-time dataset assembled from original quarterly releases of 13 quarterly variables presented in the OECD Main Economic Indicators from 1962 to 1998 for 26 OECD countries. By merging this data with the current OECD real-time dataset, which starts in 1999, researchers get access to a standard, up-to-date resource. To illustrate the importance of using real-time data in macroeconomic analysis, we consider five economic applications analyzed from a real-time perspective.

Suggested Citation

  • Adriana Fernandez & Evan F. Koenig & Alex Nikolsko-Rzhevskyy, 2011. "A real-time historical database for the OECD," Globalization and Monetary Policy Institute Working Paper 96, Federal Reserve Bank of Dallas.
  • Handle: RePEc:fip:feddgw:96
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    File URL: http://www.dallasfed.org/assets/documents/institute/wpapers/2011/0096.pdf
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    References listed on IDEAS

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    Cited by:

    1. Ronald Indergand & Stefan Leist, 2014. "A Real-Time Data Set for Switzerland," Swiss Journal of Economics and Statistics (SJES), Swiss Society of Economics and Statistics (SSES), vol. 150(IV), pages 331-352, December.
    2. Rusnák, Marek, 2016. "Nowcasting Czech GDP in real time," Economic Modelling, Elsevier, vol. 54(C), pages 26-39.
    3. Severin Bernhard, 2016. "A real-time GDP data set for Switzerland," Economic Studies 2016-09, Swiss National Bank.
    4. repec:fip:feddgm:00014 is not listed on IDEAS
    5. repec:eee:intfor:v:33:y:2017:i:4:p:760-769 is not listed on IDEAS
    6. Marek RUSNAK, 2013. "Revisions to the Czech National Accounts: Properties and Predictability," Czech Journal of Economics and Finance (Finance a uver), Charles University Prague, Faculty of Social Sciences, vol. 63(3), pages 244-261, July.
    7. Dovern, Jonas & Jannsen, Nils, 2017. "Systematic errors in growth expectations over the business cycle," International Journal of Forecasting, Elsevier, vol. 33(4), pages 760-769.
    8. Ince, Onur & Molodtsova, Tanya & Papell, David H., 2016. "Taylor rule deviations and out-of-sample exchange rate predictability," Journal of International Money and Finance, Elsevier, vol. 69(C), pages 22-44.

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    Keywords

    Macroeconomics - Econometric models ; Forecasting;

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