An Area-Wide Real-Time Database for the Euro Area
构建了欧元区实时数据库,涵盖欧洲央行月报中200多个序列,研究数据流与修订特性,并与美日对比,说明修订如何影响关键宏观经济比率和NAIRU的不确定性。
This paper describes how we constructed a real-time database for the euro area covering more than 200 series regularly published in the European Central Bank Monthly Bulletin, as made available ahead of publication to the Governing Council members before their first meeting of the month. We describe the database in details and study the properties of the euro area real-time data flow and data revisions, also providing comparisons with the United States and Japan. We finally illustrate how such revisions can contribute to the uncertainty surrounding key macroeconomic ratios and the NAIRU.