The aim of the event is to join efforts and share experiences and methodological approaches to the use of Big Data for Forecasting and Nowcasting purposes. The event will also be an opportunity to learn on how efforts in this direction are being developed in government institutions as central banks or statistical offices.

Aimed at Central Bank staff, public agencies officials and academics in charge of nowcasting/forecasting and analysis of big data.


Important dates

Papers on related topics are welcomed and will be discussed as part of the event. The submission deadline for papers is September 29th. The Workshop will be also open to participants from government agencies and central bank staff involved in Big Data projects.

The Program of the Workshop will be available by October 13th.


Language

English (NO simultaneous translation)

Coordinators

Laura Ines D'Amato | Macro Modelling and Forecasting Senior Manager ldamato@bcra.gob.ar

Emilio Fernando Blanco | Senior Research Analyst emilio.blanco@bcra.gob.ar

Main Speakers

Domenico Giannone

Assistant Vice President Macroeconomic and Monetary Studies Function - Federal Reserve Bank of New York

Nikos Askitas

Coordinator of Data and Technology – IZA Institute of Labor Economics

Preliminary Schedule

November 24th, 2017 | Dr. Ernesto Bosch Room, Banco Central de la República Argentina

09:00 – 09:30

Registrartion and Opening Remarks | BCRA

Laura D'Amato | Senior Manager of Macroeconomic Modeling and Forecasting

09:30 – 10:30

1st Panel

Domenico Giannone

Economic Predictions with Big Data: The Illusion of Sparsity

10:30 – 10:45

Coffee Break

10:45 – 11:45

Round Table: Skill-building in Data Science: the role of private-public interactions

Alejandro Vaisman | ITBA

Gustavo Vulcano | UTDT

TBC | Fundación Sadosky

Gerardo Licandro | Banco Central del Uruguay

Emilio Blanco| Banco Central de Argentina

11:45 – 12:45

Contributed Paper Session 1

Pablo Pincheira | Universidad Adolfo Ibáñez

Nowcasting Building Permits with Google Trends

Javier Perez | Banco de España

Nowcasting private consumption: traditional indicators, uncertainty measures, and the role of internet search query data

12:45 – 14:15

Lunch

14:15 – 15:45

Contributed Paper Session 2

Daniel Aromi | IIEP-UBA

Measuring uncertainty through word vector representations

Rodolfo G. Campos | Banco de España

A Reconstruction of Argentina’s Consumer Price Index using a Dynamic Factor Model

Ezequiel Smucler | UBA-CONICET and University of British Columbia

Forecasting Multiple Time Series with One-Sided Dynamic Principal Components

15:45 – 16:00

Coffee break

16:00 – 17:00

Contributed Paper Session 3

Alejandro Justiniano | Chicago FED

Forecasting Economic Activity with Mixed Frequency Bayesian VARs

Silvia Miranda-Agrippino | Bank of England

TBC

17:30 – 18:00

2st Panel

Nikos Askitas

Towards an empirically founded behavioural macro - Exploiting the Internet as a Data Source for Social Science

Bios

Domenico Giannone

Domenico Giannone is Assistant Vice President Macroeconomic and Monetary Studies Function at the Federal Reserve Bank of New York and Research Fellow of the Centre for European Policy Research (CEPR). His general fields of research are forecasting, monetary policy, business cycles and growth. He is Associate Professor of Econometrics at LUISS University of Rome (on leave). He was Professor of Economics at the ULB, worked as Economist at the Monetary Policy Research Division of the European Central Bank and was Scientific Coordinator of the Euro Area Business Cycle Network. He has designed econometric models that are routinely used to inform policy decisions in many institutions, was co-founder and director of Now-Casting.com (a web-based forecasting company), and was a member of the CEPR Business Cycle Dating Committee. He is associate editor for the Journal of Business and Economic Statistics, the Journal of Applied Econometrics, the International Journal of Forecasting and Empirical Economics.

Nikos Askitas

Nikos Askitas is IZA Director of Data and Technology responsible for IT, the IZA IDSC and all issues related to Data and Technology since October 2014. He studied Mathematics and computer science at the Aristoteleion University of Thessaloniki (Greece). He latter received his Masters degree in Mathematical Logic and Ph.D in Mathematics from Indiana University in Bloomington, Indiana (USA). He has published papers in mathematical journals such as Manuscripta Mathematica, Mathematische Zeitschrift, Knot Theory and Its Ramifications, The Kobe Journal of Japan, Topology and Its Applications. He is also the author of several stata modules. His interests include Remote Access/Computing/Processing, Data management, Systems Design, Big Data and Game Theory. Nikos Askitas joined IZA as an IT Specialist in March 2000. In January 2008 he became Deputy Head of IT and in August 2008 he became Head of the Institute's International Data Service Center and IZA CTO. Member of the DDI alliance Experts Committee, advisor at the Open Data Foundation and speaker of the German Research Data Infrastructure to the German Data Forum (RatSWD).

Pablo Pincheira Brown

Prior to joining UAI, he served as Senior Economist for the Economic Research Department at the Central Bank of Chile and as Head of the Department of Planning and Development of the Ministry of Mining. Additionally, he was a member of the Council of the Chilean Copper Commission between 2010 and 2012. He has lectured on econometrics, macroeconomics, quantitative methods and statistics at Universidad Adolfo Ibáñez, Universidad de Chile, Pontificia Universidad Católica de Chile and Universidad de Santiago. As a researcher, he has published in national and international journals in the areas of time series and macroeconomic and financial prediction. He is currently a member of the editorial board of the International Journal of Economic Sciences and is the referee of several academic journals, including the International Journal of Central Banking, the International Journal of Forecasting and the Journal of Money, Credit and Banking.