Nowcashing: Using Daily Fiscal Data for Real-Time Macroeconomic Analysis

30 Pages Posted: 1 Dec 2017

See all articles by Florian Misch

Florian Misch

ZEW – Leibniz Centre for European Economic Research

Brian Olden

International Monetary Fund (IMF)

Marcos Poplawski-Ribeiro

International Monetary Fund (IMF)

Lamya Kejji

International Monetary Fund (IMF)

Date Written: November 2017

Abstract

Traditionally, fiscal data for policy analysis are derived from official reports that, depending onthe country, are published either monthly, quarterly or annually, often with significant time lags.However, innovations in digitalization of government payments and accounting systems meanthat real-time daily fiscal data exist in many countries. In this paper, we argue that these datacontain valuable, but underutilized and underexploited information. Possible uses include (i) realtimefiscal surveillance which allows for much more timely responses to emerging signs of fiscalstress, and (ii) nowcasting economic activity, which is especially useful in countries where higherfrequency GDP statistics are unavailable.

Keywords: Fiscal policy, JEL Classification Numbers: E01, E32, H68 Keywords: Nowcashing, Real-time data, Nowcasting, Nowcashing, Forecasts of Budgets, Deficits, and Debt

JEL Classification: E01, E32, H68

Suggested Citation

Misch, Florian and Olden, Brian and Poplawski-Ribeiro, Marcos and Kejji, Lamya, Nowcashing: Using Daily Fiscal Data for Real-Time Macroeconomic Analysis (November 2017). IMF Working Paper No. 17/227. Available at SSRN: https://ssrn.com/abstract=3079552

Florian Misch (Contact Author)

ZEW – Leibniz Centre for European Economic Research ( email )

P.O. Box 10 34 43
L 7,1
D-68034 Mannheim, 68034
Germany

Brian Olden

International Monetary Fund (IMF) ( email )

700 19th Street, N.W.
Washington, DC 20431
United States

Marcos Poplawski-Ribeiro

International Monetary Fund (IMF) ( email )

700 19th Street, N.W.
Washington, DC 20431
United States

Lamya Kejji

International Monetary Fund (IMF) ( email )

700 19th Street, N.W.
Washington, DC 20431
United States

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