Tony Chernis is a senior economist in the Regional Analysis Division of the Canadian Economic Analysis department. Based at the Regional Office for British Columbia and the Yukon, his work includes contributing to the Business Outlook Survey, conducting economic analysis, and developing nowcasting models. Tony holds a master’s degree in economics from Simon Fraser University.
This paper estimates a three‐frequency dynamic factor model for nowcasting Canadian provincial gross domestic product (GDP). Canadian provincial GDP is released by Statistics Canada on an annual basis only, with a significant lag (11 months).
This paper estimates a dynamic factor model (DFM) for nowcasting Canadian gross domestic product. The model is estimated with a mix of soft and hard indicators, and it features a high share of international data.
Canadian exports have often disappointed since the Great Recession. The apparent disconnect between exports and the Bank of Canada’s current measure of foreign demand has created an impetus to search for an alternative.