Most of the Euro-zone economic short-term indicators are computed through aggregation from Member States data. The seasonally adjusted figures can be calculated by seasonally adjusting the aggregate (direct approach) or aggregating the seasonally adjusted national data (indirect approach)....

This paper extends the methodology for a simultaneous detecting of business and growth cycle, already developed for the euro area, to its major member countries. The best performing indicators for each country are identified through a simulation exercise. An indirect pair of turning point...

This paper describes the construction of a real-time monitoring system of the euro area economy by complementing official statistics by advanced statistical and econometric techniques. It also shows how it is possible to build up an effective cyclical early warning system for the euro area by...

This paper focus on an analysis of the GVAR model across euro-area countries when detrending. The GVAR model accommodates cross-country as well as cross-variable dependencies among the euro-area countries. We focus on the role of cross-sectional dependence in the production of trend and cycle...

The paper deals with the estimation of monthly indicators of economic activity for the Euro area and its largest member countries that possess the following attributes: relevance, representativeness and timeliness. Relevance is obtained by referring our monthly indicators to gross domestic...