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 useful for the nowcasting macroeconomic variables and prepare them for use in a nowcasting exercise. Formulate and estimate a nowcasting regression using several approaches (including Bridge, MIDAS, and U-MIDAS estimators). 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 policy making settings.