Publication: Aplicarea metodei Nowcast pentru estimarea agregatelor macroeconomice ale Republicii Moldova
Date
Authors
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Publisher
ASEM
Abstract
Description
CARA, Elena, BLANUȚA, Victoria. Aplicarea metodei Nowcast pentru estimarea agregatelor macroeconomice ale Republicii Moldova. În: Competitivitate şi inovare în economia cunoaşterii [online]: culegere de rezumate: conf. şt. intern., 25-26 sept. 2020. Ediţia a 22-a. Chişinău: ASEM, 2020, pp. 44-47. E-ISBN 978-9975-75-986-1.
The assessment of the current economic situation in real time is neccesary for policymakers to take prompt, appropriate and immediate impact measures. An acceptable tool for this purpose is the ”Nowcast” method – a modern macroeconometric approach with high performance. The selected model for the ”Nowcast” estimation provides the following: the common factors estimation capturing a big number of high frequency indicators and macroeconomic aggregates growth estimation using the estimated factors within a standard regressional framework. The ”Nowcast” economic growth estimation in real time has already proved its utility for the national economic situation assessment before the macroeconomic statistical data are made available, especially in times of economic crisis. JEL: E6, L83, K38
The assessment of the current economic situation in real time is neccesary for policymakers to take prompt, appropriate and immediate impact measures. An acceptable tool for this purpose is the ”Nowcast” method – a modern macroeconometric approach with high performance. The selected model for the ”Nowcast” estimation provides the following: the common factors estimation capturing a big number of high frequency indicators and macroeconomic aggregates growth estimation using the estimated factors within a standard regressional framework. The ”Nowcast” economic growth estimation in real time has already proved its utility for the national economic situation assessment before the macroeconomic statistical data are made available, especially in times of economic crisis. JEL: E6, L83, K38
Keywords
bridge equations, factor model, Nowcast, Gross Domestic Product, short-term forecast