13th Annual Conference on Real-time Data analysis, Methods, and Applications in macroeconomics and finance
The Banco de España sponsored the 13th Annual Conference on real-time data analysis, methods, and applications in macroeconomics and finance, which was held October 19th and 20th, 2017, in its central headquarters in Madrid, c/ Alcalá, 48.
The conference brought together leading researchers in real-time analysis of economic and financial data. Real-time analysis has become an important topic in policy analysis, because the optimality of the policy decisions depends on the available information when the decision is made.
The conference covered a wide variety of topics, from real-time forecasting of macroeconomic variables to the effect of monetary or fiscal surprises –defined in real time- on the economy. Other topics covered were real-time detection of bubbles, estimation of output gaps in real time, improved measures of GDP or the effects of financial variables nowcasts on the economy.
This was the first time that this annual conference was held outside the United States or Canada. The amount of participants, the richness of the comments, and the lively discussions held, made the conference a success, and future plans to bring this conference again to Europe in two years have been discussed.