Abstract
Output growth estimates for the regions of the UK are currently published at the annual frequency only, released with a long delay and offer limited historical coverage. To improve the regional database this paper develops a mixed-frequency multivariate model and uses it to produce consistent estimates of quarterly regional output growth dating back to 1970. We describe how these estimates are updated and evaluated on an ongoing, quarterly basis to publish online (at www.escoe.ac.uk/ regionalnowcasting) more timely regional growth estimates. We illustrate how the new quarterly data can contribute to our historical understanding of business cycle dynamics and connectedness between regions.
| Original language | English |
|---|---|
| Pages (from-to) | 176-197 |
| Number of pages | 22 |
| Journal | Journal of Applied Econometrics |
| Volume | 35 |
| Issue number | 2 |
| Early online date | 17 Dec 2019 |
| DOIs | |
| Publication status | Published - 4 Mar 2020 |
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Keywords
- regional data
- mixed frequency
- Nowcasting
- real-time data
- vector auto-regression