Training Program

Upon completion of this course, participants should be able to: 

• Understand and be proficient in the steps required to manage time-series data in EViews, estimate an OLS regression, and calculate its associated forecasts in EViews. 
• Formulate several useful statistical procedures in EViews, including consolidation of time series from higher to lower frequencies; interpolation techniques; seasonal adjustment; and use of leading indicators. 
• Identify appropriate high-frequency indicators and non-traditional data useful for nowcasting macroeconomic variables and prepare them for use in a nowcasting exercise. 
• Formulate and estimate nowcasting models using several approaches (such as Bridge, MIDAS, and U-MIDAS estimators, etc.). Generate a nowcast from the base regression and consolidate competing forecasts using combination forecasts. 
• Evaluate the accuracy of the nowcast using several forecasting performance indicators. 
• Apply the nowcasting tools to their own country data and interpret the nowcast appropriately in policymaking settings.