Where are we now?
Subtitle: real-time estimates of the macro economy
By: Martin D.D. Evans.
Contributors: National Bureau of Economic Research.
Series: NBER working paper series -- no. 11064.; Working paper series (National Bureau of Economic Research) -- working paper no. 11064.
Publisher: National Bureau of Economic Research
Published: 2005
Place of publication: Cambridge, Mass
Language: eng
Number of pages: 38
Subjects: United States -- Economic conditions -- Mathematical models
Description: "This paper describes a method for calculating daily real-time estimates of the current state of the U.S. economy. The estimates are computed from data on scheduled U.S. macroeconomic announcements using an econometric model that allows for variable reporting lags, temporal aggregation, and other complications in the data. The model can be applied to find real-time estimates of GDP, inflation, unemployment or any other macroeconomic variable of interest. In this paper I focus on the problem of estimating the current level of and growth rate in GDP. I construct daily real-time estimates of GDP that incorporate public information known on the day in question. The real-time estimates produced by the model are uniquely-suited to studying how perceived developments the macro economy are linked to asset prices over a wide range of frequencies. The estimates also provide, for the first time, daily time series that can be used in practical policy decisions"--National Bureau of Economic Research web site.
Notes: "January 2005."

Includes bibliographical references (p. 37-38).

Also available in PDF from the NBER world wide web site (www.nber.org).