Please use this identifier to cite or link to this item: https://ir.iimcal.ac.in:8443/jspui/handle/123456789/4173
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dc.contributor.authorParasuram, Kolli-
dc.date.accessioned2022-11-16T10:11:33Z-
dc.date.available2022-11-16T10:11:33Z-
dc.date.issued2021-
dc.identifier.urihttps://ir.iimcal.ac.in:8443/jspui/handle/123456789/4173-
dc.description.abstractWhat does ‘nowcast’ mean here? It is the RBI’s forecast value for Indian GDP in Q3 of 2020, which they did for the first time using the Nowcasting Technique. Gross Domestic Product (GDP) is the most important measure to assess the economic state of the country. The country’s GDP is released 45 days (almost half a Quarter) post completion of the Quarter. This lag is impeding the Government from assessing the impact of its policies and updating them at the right time. This prompted economists to take more interest in accurately forecasting the country’s GDP. Traditionally, economists used simple forecasting techniques such as VAR, ARIMAX, VECM to forecast GDP. But since the last two years, nowcasting techniques rose to fame for forecasting macroeconomic indicators in Econometrics.en_US
dc.language.isoen_USen_US
dc.publisherStudents of PGDBA Post Graduate Diploma in Business Analytics, IIM Calcuttaen_US
dc.relation.ispartofseriesVol.2;-
dc.subjectGross Domestic Product (GDP)en_US
dc.subjectARIMAXen_US
dc.subjectDFMen_US
dc.subjectDynamic Factor Modellingen_US
dc.subjectPrincipal Component Analysis (PCA)en_US
dc.subjectIndex of Industrial Productionen_US
dc.subjectConsumer Price Indexen_US
dc.subjectVector Auto Regressionen_US
dc.subjectVector Error Correction Modelen_US
dc.titleNowcasting: An economist’s golden bowen_US
dc.typeArticleen_US
Appears in Collections:AINA 2.0 - Volume 2 Edition 2020-21

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