Tryggvi Skarphéðinsson's Contact Details

Tryggvi Skarphéðinsson's Company Details

Now-Casting Economics Ltd

London, N/A, UK • 10 - 19 Employees
Investment Bank/Securities Brokerage

Now-Casting.com is a new, online service delivering high frequency, short-term forecasts for the world's major economies – in real time. These forecasts (or ‘now-casts') are generated automatically by a state-of-the-art econometric model. The model was originally developed for use by central banks, amongst whom it is now widely used.The latest version of the model, which is used by Now-Casting.com, has been extensively tested and shown to be at least as accurate as the best judgemental forecasts, but considerably more timely. It draws on a large and diverse set of input series, including both hard and soft data: everything from employment figures to industrial surveys (http://now-casting.com/methodology). Its implementation at Now-Casting is fully automatic: the input data are updated automatically and the model runs continuously, constantly updating forecasts.If there is a signal to be picked up in the economic data flow, the Now-Casting model tends to pick it up weeks or months before other forecasts. The service is designed for policy makers and professional investors who need a clear and up to the minute gauge of the real economy, and who also want a transparent and quantitative way to read the news flow. Now-Casting.com was founded by Professors Lucrezia Reichlin of the London Business School and Domenico Giannone of Universite Libre de Bruxelles. Together they developed the now-casting model and have published a series of academic papers on its theoretical basis and empirical results (http://now-casting.com/research). Professor Reichlin was Director General of Research at the European Central Bank from 2005 to 2008, and has acted as consultant to a number of other central banks. Saverio Simonelli of the University of Naples and Jasper McMahon, CEO of Now‐Casting.com, are also co-founders. To check Now-Casting's weekly Eurozone now-cast, go to: http://now-casting.com/countries/euro-area/weekly-chart