Now-Casting and the Real-Time Data Flow
Marta Babura*,††, Domenico Giannone†, Michele Modugno† and Lucrezia Reichlin‡, *European Central Bank, Kaiserstrasse 29 60311 Frankfurt am Main, Germany, †Université libre de Bruxelles, ECARES, Av. Roosevelt 50, cp 114 1050 Bruxelles, Belgium, ‡London Business School, Regent’s Park, London NW1 4SA, UK
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 chapter we survey recent developments in economic now-casting with special focus on those models that formalize key features of how market ...