Real-Time Macroeconomic Database

A real-time database is a collection of data vintages, where a vintage represents a time series that was the latest data at a particular point in time. Such a database therefore provides a snapshot of the data available in real time, that is, the data actually at the disposal of users at any given point in the past.

A real-time database has several applications. It can be used to study data revisions, to examine whether empirical macroeconomic results are sensitive to the data vintage used, to evaluate policy actions ex-post and to evaluate forecasts.

In light of this, the Central Bank of Malta has constructed a real-time database for Malta. This database covers gross domestic product and its main expenditure components, in both real and nominal terms.

For further details, see Grech, O. (2018), "An Analysis of Revisions to Maltese GDP Data", Research Bulletin 2018, Central Bank of Malta, pp. 27-34 

Last updated: March 2020