Nowcasting in Official Statistics

Course content	Importance of nowcasting in official statistics. A brief review of econometric time series. Some data treatments and statistical tools in nowcasting. Dynamic Factor Models and a nowcasting approach in official statistics.
Learning outcomes	Learning about modern nowcasting techniques in the context of official statistics: advantages and limitations.
Programming Language	R programming language.
Target group	Staff of NSOs with some knowledge of time series and R.
Course Schedule	Overview of nowcasting: purpose and difference with forecasting (30min). Brief review of time series analysis, including main concepts as trend-cycle, seasonal, noise, stationarity, and non-stationarity (2h). Nowcasting tools: seasonal adjustment, non-traditional information, partial least squares, ARIMA models, and cross-validation in time series (2.5h). Nowcasting approach: Dynamic Factor Models and timely estimates of economic activity (3h).
Instructors	Francisco Corona, INEGI. René Benavidez, INEGI. José Lecuanda, INEGI.
How to register	All persons interested in taking part in the course are therefore kindly requested to send a letter of intent explaining the reasons for choosing this course. Make sure to include your contact information and relevant experience. Please send your letter to: franciscoj.corona@inegi.org.mx

IAOS-ISI 2024, Mexico City