Real-time macroeconomic data are typically incomplete for today and the immediate past (‘ragged edge’) and subject to revision. To enable more timely forecasts the recent missing data have to be imputed. The paper presents a state-space model that can deal with publication lags and data...

Using new data on the term in office of central bank governors for a large set of countries for 1970-2005, we estimate a model for the probability that a central bank governor is replaced before the end of his legal term in office. We formulate hypotheses based on the literature on the...