Focus on European Economic Integration Q4/18

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• Focus on European Economic Integration Q4/18 (PDF, 3,7 MB) November 2018

Studien und Analysen

• Developments in selected CESEE countries (PDF, 2,7 MB) en 30.11.2018, 00:00:00

• Outlook for selected CESEE countries (PDF, 1,9 MB) en 30.11.2018, 00:00:00

• A simple approach to nowcasting GDP growth in CESEE economies (PDF, 2,6 MB) Riedl, Wörz. Given the publication time lag inherent in national accounts data, we explore the informational content of higher-frequency indicators that become available during a quarter in nowcasting current-quarter GDP growth rates for 11 Central, Eastern and Southeastern European (CESEE) economies. Building on recent findings, we restrict our choice to three model classes: (1) principal component models, (2) bridge equations and (3) simple autoregressive (AR) models without higher-frequency variables. Moreover, we propose a variety of forecast combinations to arrive at the highest possible forecast accuracy. Our estimation sample starts in the first quarter of 2003, and our evaluation period ranges from the second quarter of 2012 to the fourth quarter of 2017. We find that higher-frequency indicators contain useful information for predicting current economic activity in most of the economies in our sample. Using forecast combinations of models with and without higher-frequency variables yields additional gains in predictive accuracy. The best performers ultimately selected vary strongly across countries: we find 10 different models for 11 countries. Eight country models produce a statistically significantly smaller forecast error than the benchmark. Calculating a CESEE-11 country aggregate based on the individual country forecasts yields a forecast performance that is highly superior to that of the benchmark. en nowcasting, principal components, country models; Central, Eastern and Southeastern Europe C52, C53, E37 30.11.2018, 00:00:00

• CESEE-related abstracts from other OeNB publications (PDF, 1,7 MB) en 30.11.2018, 00:00:00

• 82nd East Jour Fixe: Debt in Central, Eastern and Southeastern Europe: vulnerabilities and opportunities (PDF, 1,7 MB) en 30.11.2018, 00:00:00

• The OeNB’s 83rd East Jour Fixe: Catching the wind: current challenges and opportunities for European integration and convergence1 (PDF, 1,7 MB) en 30.11.2018, 00:00:00

• 23rd Global Economy Lecture: Caroline Freund on “Trade, inequality and populism” (PDF, 1,9 MB) en 30.11.2018, 00:00:00

• Statistical annex (PDF, 1,8 MB) en 30.11.2018, 00:00:00