Template-Type: ReDIF-Paper 1.0
Author-Name: Konstantins Benkovskis
Author-X-Name-First: Konstantins
Author-X-Name-Last: Benkovskis
Author-Workplace-Name: Bank of Latvia
Title: LATCOIN: Determining Medium to Long-Run Tendencies of Economic Growth in Latvia in Real Time
Abstract: This paper presents a method of estimating the current state of Latvia's economy. The evaluation object is medium to long-run growth of real GDP, but not actual GDP itself, which helps to filter out various one-off effects and focus on medium and long-run tendencies. Our indicator, called LATCOIN (Latvia's Business Cycle Coincidence Indicator), could be viewed as a simple adaptation of EUROCOIN for Latvia with some changes in methodology. LATCOIN is a monthly estimate of the medium to long-run growth of Latvia's real GDP, which is produced on the 9th working day of the next month. Using a large panel of macroeconomic variables, few smooth unobservable factors describing the economy are constructed. Further, these factors are used for the estimation of LATCOIN.
Creation-Date: 2010-01-25
File-URL: https://www.bank.lv/public_files/images/img_lb/izdevumi/english/citas/wp_2010-1_benkovsky.pdf
File-Format: Application/pdf
File-URL: https://www.macroeconomics.lv/sites/default/files/wp_2010-1_benkovsky.pdf
File-Format: Application/pdf
Number: 2010/01
Classification-JEL: C22, C50, E32
Keywords: Latvia's real GDP, band-pass filter, coincidence indicator, generalised principal components, real-time performance, turning points
X-File-Ref: https://repec.bank.lv/refs/wpaper201001.txt
Handle: RePEc:ltv:wpaper:201001