Macroeconomic Asymmetry in the European Union: The Difference Between New and Old Members

Version Date: 
Dec 2004

We study the degree of output and consumption asymmetry for the ten new and fifteen original European Union members during the period 1994–2001. We establish basic stylized facts about macroeconomic asymmetry from correlations of GDP and consumption growth rates with corresponding aggregates.

Nowcasting GDP and Inflation: The Real Time Informational Content of Macroeconomic Data Releases

JEL codes: 
C33, C53, E52
Version Date: 
Jul 2005

This paper formalizes the process of updating the nowcast and forecast on output and inflation as new releases of data become available. The marginal contribution of a particular release for the value of the signal and its precision is evaluated by computing 'news' on the basis of an evolving conditioning information set.