Template-type: ReDIF-Article 1.0
Author-Name: Zubarev Andrey
Author-Workplace-Name: Russian Presidential Academy of National Economy and Public Administration
Author-Name: Rybak Konstantin
Author-Workplace-Name: Russian Presidential Academy of National Economy and Public Administration
Title: GDP Nowcasting: Dynamic Factor Model vs. Official Forecasts
Title: Наукастинг ВВП: динамическая факторная модель и официальные прогнозы
Abstract: We propose a dynamic factor model for nowcasting GDP, which becomes available with a significant delay in official statistics. Furthermore, we show that obtained nowcasts outperform those made by the Ministry of Economic Development.
The article was prepared in the framework of execution of state order by RANEPA.
Keywords: GDP nowcasting, factor model, official forecasts
Classification-JEL: C53, C82, C38, E27
Journal: Russian Economic Developments
Year: 2021
Issue: 12
Month: December
Pages: 34-40
File-URL: http://www.iep.ru/files/RePEc/gai/recdev/r21131.pdf
File-Format: Application/pdf
Handle: RePEc:gai:recdev:r21131