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Nowcasting Median Household Income with Mixed-Frequency Models : Code, 2024, No. 7

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Nowcasting Median Household Income with Mixed-Frequency Models : Code, 2024, No. 7

DATE: December 20, 2024

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In this article, I introduce a dynamic factor model that produces a transparent and accurate forecast of median household income using only publicly available, easily accessible data. My aim with this article is to facilitate closer-to-real-time analysis of affordability and other economic phenomena related to income.

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Federal Reserve Bank of Chicago. "Nowcasting Median Household Income with Mixed-Frequency Models : Code, 2024, No. 7," Economic Perspectives (Federal Reserve Bank of Chicago) (December 20, 2024). https://fraser.stlouisfed.org/title/5288/item/717543/content/zip/frbchi_econper_2024-7-code, accessed on February 13, 2026.

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DIGITAL COPY SOURCE: Federal Reserve Bank of Chicago

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  • doi: https://doi.org/10.21033/ep-2024-7
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