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Nowcasting Marta Bańbura*, European Central Bank

By Domenico Giannone and Université Libre De Bruxelles

Abstract

Economists have imperfect knowledge of the present state of the economy and even of the recent past. Many key statistics are released with a long delay and they are subsequently revised. As a consequence, unlike weather forecasters, who know what is the weather today and only have to predict the weather tomorrow, economists have to forecast the present an

Year: 2010
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