gen_news: Viewing the impact of new data on a nowcast.

In nowcastDFM: DFMs for Nowcasting

Description

given and old and new dataset, will calculate the impact data releases and revisions have on the estimate of a target variable.

Usage

gen_news(old_y, new_y, output_dfm, target_variable, target_period)

Arguments

old_y	dataframe of variables, size (n_obs, n_variables). Must include in 1st column a series of type date, called "date", all data already stationary.
new_y	dataframe of variables, size (n_obs, n_variables). Must include in 1st column a series of type date, called "date", all data already stationary. Must contain same columns as old_y.
output_dfm	list, the output of the dfm() function.
target_variable	name of the target column.
target_period	date of forecast to view impacts on.

Value

A list containing the following elements:

target_period	same as input.
target_variable	same as input.
y_old	forecast for target variable with old data.
y_new	forecast for target variable with new data.
forecast	forecast of variables for target period. Only shows for variables that were newly published between old and new dataset.
actual	actual published value of variables for target period. Only shows for variables that were newly published between old and new dataset.
weight	weight of each data release
news_table	table summarising forecast, actual, weight and impact of data releases
impact_revisions	impact of data revisions on nowcast.
impact_releases	impact of data releases on nowcast.
impact_total	total impact (from data revision and data releases).

nowcastDFM documentation built on Dec. 1, 2021, 5:07 p.m.