Global | Tracking the COVID-19 Crisis with High-Resolution Transaction Data
Published on Thursday, November 12, 2020 | Updated on Thursday, November 12, 2020
Big Data techniques used
Global | Tracking the COVID-19 Crisis with High-Resolution Transaction Data
Summary
Presentation released by BBVA Research at Banca d’Italia and Federal Reserve Board Joint Conference, Nontraditional Data & Statistical Learning with Applications to Macroeconomics.
Key points
- Key points:
- Measuring National Accounts in Real Time & High Definition. The use of card spending for nowcasting aggregate consumption and making granular economic analysis.
- Data may be analyzed between 1-3 months ahead than the official figures. Data has more granular detail on household spending than the official figures.
- Transaction data has proved to be useful to track the economy and exploit time series, cross-sectional and geographical dimensions.
- Detailed transaction data on transportation and commuting spending can be used to explain disease incidence at the local level.
Topics
- Topic Tags
- Consumption
Tags
Authors
Vasco M. Carvalho
University of Cambridge - External partner
Juan Ramón García
BBVA Research - Principal Economist
Stephen Hansen
University College London - External partner
Alvaro Ortiz
BBVA Research - Head of Analysis with Big Data
Tomasa Rodrigo
BBVA Research - Lead Economist
José V. Rodríguez Mora
CUNEF - External partner
Pep Ruiz
BBVA Research - Principal Economist
Documents and files
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