@techreport{NBERw14349, title = "Real-Time Measurement of Business Conditions", author = "S. Boragan Aruoba and Francis X. Diebold and Chiara Scotti", institution = "National Bureau of Economic Research", type = "Working Paper", series = "Working Paper Series", number = "14349", year = "2008", month = "September", doi = {10.3386/w14349}, URL = "http://www.nber.org/papers/w14349", abstract = {We construct a framework for measuring economic activity at high frequency, potentially in real time. We use a variety of stock and flow data observed at mixed frequencies (including very high frequencies), and we use a dynamic factor model that permits exact filtering. We illustrate the framework in a prototype empirical example and a simulation study calibrated to the example.}, }