Nowcasting, Business Cycle Dating and the Interpretation of New Information when Real-Time Data are Available

JEL codes: 
E52, E58
Version Date: 
Aug 2009

A canonical model is described which reflects the real-time informational context of decision-making. Comparisons are drawn with ‘conventional’ models that incorrectly omit market-informed insights on future macroeconomic conditions and inappropriately incorporate information that was not available at the time.

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