Economists are so focused on key macroeconomic variables, such as the GDP, Inflation,
Unemployment, Industrial Production, Retail Sales, etc., who often omit or skip variables
which are more qualitative in nature but of key importance for social conditions and living.
These variables include the Unpaid Household Production Activity as well as Quality
Adjustment for Public Service Productivity. This research attempts to provide a generic
methodological framework for a dynamic nowcasting of such variables and assist relevant
economists and statisticians in tracking of these low frequency qualitative variables.
