Lewis, Daniel J;
Mertens, Karel;
Stock, James H;
Trivedi, Mihir;
(2022)
Measuring real activity using a weekly economic index.
Journal of Applied Econometrics
, 37
(4)
pp. 667-687.
10.1002/jae.2873.
Preview |
Text
WEI_Corona_Revision_final.pdf - Other Download (2MB) | Preview |
Abstract
This paper describes a weekly economic index (WEI) developed to track the rapid economic developments associated with the onset of and policy response to the novel coronavirus in the United States. The WEI is a weekly composite index of real economic activity, with eight of 10 series available the Thursday after the end of the reference week. In addition to being a weekly real activity index, the WEI has strong predictive power for output measures and provided an accurate nowcast of current-quarter GDP growth in the first half of 2020, with weaker performance in the second half. We document how the WEI responded to key events and data releases during the first 10 months of the pandemic.
| Type: | Article |
|---|---|
| Title: | Measuring real activity using a weekly economic index |
| Open access status: | An open access version is available from UCL Discovery |
| DOI: | 10.1002/jae.2873 |
| Publisher version: | https://doi.org/10.1002/jae.2873 |
| Language: | English |
| Additional information: | This version is the author accepted manuscript. For information on re-use, please refer to the publisher’s terms and conditions. |
| Keywords: | Weekly Economic Index, High Frequency, Measurement of Economic Activity, Forecasting |
| UCL classification: | UCL UCL > Provost and Vice Provost Offices > UCL SLASH UCL > Provost and Vice Provost Offices > UCL SLASH > Faculty of S&HS UCL > Provost and Vice Provost Offices > UCL SLASH > Faculty of S&HS > Dept of Economics |
| URI: | https://discovery-pp.ucl.ac.uk/id/eprint/10160480 |
Archive Staff Only
 |
View Item |
