Training Program

Junior and middle-level officials from Ministries of Finance, Central Banks, and other interested public institutions.

Basic knowledge in statistics and statistical packages such as R and/or Eviews. The course will aim at using R but participants who have access and knowledge of EViews will receive adapted materials.

The course will introduce participants to nowcasting methods and to the type of data and techniques that countries can use to develop high-frequency indicators (HFI) using a hands-on approach. The course will cover nowcasting and HFI data sources, two types of modeling approaches (factor models and machine learning), that enable the incorporation of mixed-frequency data indicators to the nowcasts and forecasts of GDP. Using applications to different countries, it will emphasize the following practical aspects: How to adapt to the data context? How to deal with mixed frequencies and delays in the release of data? How to evaluate (and combine) different nowcasting models?