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Place‐Based Policies and Nowcasting

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  • Ashton de Silva
  • Maria Yanotti
  • Sarah Sinclair
  • Sveta Angelopoulos

Abstract

There is a growing need to gauge local economic activity in real time. Localised economic challenges have been emphasised in the wake of the COVID‐19 pandemic. Real‐time trackers (such as OECD trackers) and other nowcasting applications typically correspond to national or highly aggregated regions. In this discussion paper, we briefly explore how unconventional data might be used to produce nowcasts of local economies. We argue that in the absence of traditional nowcasting metrics, efforts to nowcast local economies need a local perspective, with data capture tailored to address heterogeneity across three domains: (1) resources, (2) people and (3) life.

Suggested Citation

  • Ashton de Silva & Maria Yanotti & Sarah Sinclair & Sveta Angelopoulos, 2023. "Place‐Based Policies and Nowcasting," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 56(3), pages 363-370, September.
    • Handle: RePEc:bla:ausecr:v:56:y:2023:i:3:p:363-370
    DOI: 10.1111/1467-8462.12526
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