Nowcasting of the Russian GDP using the current statistics
Книги

Nowcasting of the Russian GDP using the current statistics

Книги

Nowcasting of the Russian GDP using the current statistics

Achkasov, Y. Nowcasting of the Russian GDP using the current statistics : approach modification / Y. Achkasov; The Central Bank of the Russian Federation, Higher School of Economics. — Moscow : Bank of Russia, 2016. — 10 p.: il.. — (Working Paper Series; № 8 / january). — References: p. 8.

Аннотация

In 2015, the Bank of Russia switched to the policy of inflation targeting. The Bank of Russia takes monetary policy decisions proceeding from an estimate of the current situation and a medium-term forecast. Time lags in the provision of information by statistical agencies are a standard problem in macroeconomic forecasting. Thus, the Russian Federal State Statistics Service (Rosstat) provides a preliminary estimate of the GDP physical volume index in a month and a half after the end of a quarter, while the first estimate of the produced GDP appears in two months and a half and the estimate of the use of GDP comes at the end of a quarter following the reporting quarter. Rosstat monthly estimates the output of goods and services in basic types of economic activity but publishes this estimate in the last days of a month following the reporting month.
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