Future directions in nowcasting economic activity: A systematic literature review

Alina Stundziene; Vaida Pilinkiene; Jurgita Bruneckiene; Andrius Grybauskas; Mantas Lukauskas; Irena Pekarskiene

doi:10.1111/joes.12579

journal article Jul 25, 2023

Future directions in nowcasting economic activity: A systematic literature review

Alina Stundziene

Vaida Pilinkiene Jurgita Bruneckiene Andrius Grybauskas

Mantas Lukauskas Irena Pekarskiene

Journal of Economic Surveys Vol. 38 No. 4 pp. 1199-1233 · Wiley

View at Publisher Save 10.1111/joes.12579

Abstract

AbstractThis paper presents a systematic review of research papers on nowcasting economic activity. The study summarizes the state‐of‐the‐art nowcasting approaches and methods, describes the indicators used in this analysis, highlights the existing gaps, and proposes future research directions. Based on an analysis of 193 articles on nowcasting in economics that were published in the journals indexed in the Web of Science Core Collection database, future research directions in nowcasting are described in this paper. This research indicates that the focus of economic activity nowcasting should rely on the use of real‐time data and alternative indicators in order to enhance the predictive ability.

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Details

Published: Jul 25, 2023
Vol/Issue: 38(4)
Pages: 1199-1233
License: View

Authors

A

Alina Stundziene