LAUSR.org creates dashboard-style pages of related content for over 1.5 million academic articles. Sign Up to like articles & get recommendations!

Incorporating the Beige Book into a Quantitative Index of Economic Activity

Photo by jannerboy62 from unsplash

We apply customized text analytics to the written description of economic activity contained in the Beige Book (BB) in order to obtain a quantitative measure of current economic conditions. This… Click to show full abstract

We apply customized text analytics to the written description of economic activity contained in the Beige Book (BB) in order to obtain a quantitative measure of current economic conditions. This quantitative BB measure is then incorporated into a dynamic factor index model that also contains other commonly used quantitative economic data. We find that at the time the BB is released it has information about current economic activity not contained in other quantitative data. This informational advantage is relatively short lived. By 3 weeks after their release date, ‘old’ BBs contain little additional information about economic activity not already contained in other quantitative data. Copyright © 2016 John Wiley & Sons, Ltd.

Keywords: economic activity; index; incorporating beige; beige book; activity

Journal Title: Journal of Forecasting
Year Published: 2017

Link to full text (if available)


Share on Social Media:                               Sign Up to like & get
recommendations!

Related content

More Information              News              Social Media              Video              Recommended



                Click one of the above tabs to view related content.