Nowcasting Scottish GDP Growth
Allan, Grant and Koop, Gary and McIntyre, Stuart and Smith, Paul (2014) Nowcasting Scottish GDP Growth. Discussion paper. University of Strathclyde, Glasgow.
Preview |
Text.
Filename: Allan_etal_2014_Nowcasting_scottish_gdp_growth.pdf
Final Published Version Download (589kB)| Preview |
Abstract
The delays in the release of macroeconomic variables such as GDP mean that policymakers do not know their current values. Thus, nowcasts, which are estimates of current values of macroeconomic variables, are becoming increasingly popular. This paper takes up the challenge of nowcasting Scottish GDP growth. Nowcasting in Scotland, currently a government oce region within the United Kingdom, is complicated due to data limitations. For instance, key nowcast predictors such as industrial production are unavailable. Accordingly, we use data on some non-traditional variables and investigate whether UK aggregates can help nowcast Scottish GDP growth. Such data limitations are shared by many other sub-national regions, so we hope this paper can provide lessons for other regions interested in developing nowcasting models.
ORCID iDs
Allan, Grant ORCID: https://orcid.org/0000-0002-1404-2768, Koop, Gary ORCID: https://orcid.org/0000-0002-6091-378X, McIntyre, Stuart ORCID: https://orcid.org/0000-0002-0640-7544 and Smith, Paul ORCID: https://orcid.org/0000-0002-3493-3007;-
-
Item type: Monograph(Discussion paper) ID code: 68218 Dates: DateEventNovember 2014PublishedNotes: Published as a paper within the Discussion Papers in Economics, No. 14-11 (2014) Subjects: Social Sciences > Communities. Classes. Races > Regional economics. Space in economics Department: Strathclyde Business School > Economics Depositing user: Pure Administrator Date deposited: 04 Jun 2019 08:42 Last modified: 11 Nov 2024 16:05 URI: https://strathprints.strath.ac.uk/id/eprint/68218