Real-time Forecasts of Economic Activity for Latin American Economies /

Macroeconomic policy decisions in real-time are based the assessment of current and future economic conditions. These assessments are made difficult by the presence of incomplete and noisy data. The problem is more acute for emerging market economies, where most economic data are released infrequent...

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Bibliographic Details
Main Author: Liu, Philip
Other Authors: Matheson, Troy, Romeu, Rafael
Format: Journal
Language:English
Published: Washington, D.C. : International Monetary Fund, 2011.
Series:IMF Working Papers; Working Paper ; No. 2011/098
Online Access:Full text available on IMF
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245 1 0 |a Real-time Forecasts of Economic Activity for Latin American Economies /  |c Philip Liu, Rafael Romeu, Troy Matheson. 
264 1 |a Washington, D.C. :  |b International Monetary Fund,  |c 2011. 
300 |a 1 online resource (25 pages) 
490 1 |a IMF Working Papers 
500 |a <strong>Off-Campus Access:</strong> No User ID or Password Required 
500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
506 |a Electronic access restricted to authorized BRAC University faculty, staff and students 
520 3 |a Macroeconomic policy decisions in real-time are based the assessment of current and future economic conditions. These assessments are made difficult by the presence of incomplete and noisy data. The problem is more acute for emerging market economies, where most economic data are released infrequently with a (sometimes substantial) lag. This paper evaluates "nowcasts" and forecasts of real GDP growth using five alternative models for ten Latin American countries. The results indicate that the flow of monthly data helps to improve forecast accuracy, and the dynamic factor model consistently produces more accurate nowcasts and forecasts relative to other model specifications, across most of the countries we consider. 
538 |a Mode of access: Internet 
700 1 |a Matheson, Troy. 
700 1 |a Romeu, Rafael. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 2011/098 
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