The principal components methodology allows us to summarize the relevant information of a series of economic indicators. In this paper, this methodology is used on series commonly used by the BCRA to follow up aggregate demand and supply conditions. The principal components are assessed in terms...

The analysis of the output gap dynamics (the difference between the observed and the non-inflationary potential output) is a widely used tool for structural models employed by central banks. In such models, the output gap is a key variable to explain the dynamics of prices and wages. However,...

We forecast economic activity in Argentina on a quarterly real-time basis using dynamic factors models (DFM) (Blanco et al. 2018) and evaluate their forecasting performance during the COVID19 pandemic of 2020. We compare the results of forecasts based on a pre-pandemic estimation of the...

Inflation forecasting plays a central role in monetary policy formulation. At the same time, recent international empirical evidence suggests that with the decline in inflation of recent years, the joint dynamics of this variable and its potential predictors has changed and inflation has become...

Inflation forecasting plays a central role in monetary policy formulation. At the same time, recent international empirical evidence suggests that with the decline in inflation of recent years, the joint dynamics of this variable and its potential predictors has changed and inflation has become...

Inflation forecasting plays a central role in monetary policy formulation. At the same time, recent international empirical evidence suggests that with the decline in inflation of recent years, the joint dynamics of this variable and its potential predictors has changed and inflation has become...