Statistics, Department of
The R Journal
Date of this Version
6-2019
Document Type
Article
Citation
The R Journal (June 2019) 11(1); Editor: Norm Matloff
Abstract
The nowcasting package provides the tools to make forecasts of monthly or quarterly economic variables using dynamic factor models. The objective is to help the user at each step of the forecasting process, starting with the construction of a database, all the way to the interpretation of the forecasts. The dynamic factor model adopted in this package is based on the articles from Giannone et al. (2008) and Banbura et al. (2011). Although there exist several other dynamic factor model packages available for R, ours provides an environment to easily forecast economic variables and interpret results.
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Numerical Analysis and Scientific Computing Commons, Programming Languages and Compilers Commons
Comments
Copyright 2019, The R Foundation. Open access material. License: CC BY 4.0 International