Journal Article
Nowcasting Using the Chicago Fed National Activity Index
Abstract: The authors present an alternative version of the Chicago Fed National Activity Index (CFNAI), which is constructed using a methodology that allows for a more robust treatment of the underlying data series than its traditional methodology. This alternative CFNAI produces superior predictions of real gross domestic product growth for the current quarter (nowcasts) while correlating more closely with U.S. recessions than the traditional index.
Keywords: Chicago Fed National Activity Index (CFNAI); Gross domestic product (GDP);
Access Documents
File(s):
File format is application/pdf
http://www.chicagofed.org/digital_assets/publications/economic_perspectives/2014/1Q2014_part2_brave_butters.pdf
Description: Full text
Authors
Bibliographic Information
Provider: Federal Reserve Bank of Chicago
Part of Series: Economic Perspectives
Publication Date: 2014
Issue: Q I
Pages: 19-37