A nowcasting approach to generate timely estimates of Mexican economic activity: An application to the period of COVID-19
墨西哥经济活动的及时即时预测:COVID-19 时期应用
In this paper, we present a new approach based on dynamic factor models (DFMs) to perform nowcasts for the percentage annual variation of the Mexican Global Economic Activity Indicator (IGAE in Spanish). The procedure consists of the following steps: i) build a timely and correlated database by using economic and financial time series and real-time variables such as social mobility and significant topics extracted by Google Trends; ii) estimate the common factors using the…