The paper applies the multivariate direct filter approach on selected business and consumer confidence indicators, and share price data to construct a real-time indicator tracking the medium-to-long-run component of the quarterly growth of the euro...

This paper studies the internal consistency of professional forecasts on a micro level using three alternative data sets. The analysis is mainly based on the ECB Survey of Professional Forecasts for the euro area, but for comparison we also study the...

A general problem for survey conductors is the fact that the response decision can be connected to the intended answer of the non-respondents. This nonresponse bias might have a substantial effect on the aggregated results. In this paper, a...

The analysis of synchronisation of macroeconomic fluctuations across countries or regions has been crucial, for example, for the debate on economic integration. In this paper, we propose a multivariate measure of synchronisation to assess cohesion...