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Minding your Ps and Qs

Authors: Ehrlich, Gabriel | Haltiwanger, John C. | Jarmin, Ron S. | Johnson, David | Shapiro, Matthew D. Series: NBER working paper series . 25465 Published by : NBER (Cambridge) Physical details: 18 p. Subject(s): Consumo | Preços | Inflação | Indicadores macroeconómicos | Estatística Year: 2019
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Documento de trabalho Documento de trabalho Instituto Superior de Economia e Gestão
ISEG (iseg)
Serial 155//25465 (Browse shelf) 1 Sem empréstimo

Key macro indicators such as output, productivity, and inflation are based on a complex system across multiple statistical agencies using different samples and different levels of aggregation. The Census Bureau collects nominal sales, the Bureau of Labor Statistics collects prices, and the Bureau of Economic Analysis constructs nominal and real GDP using these data and other sources. The price and quantity data are integrated at a high level of aggregation. This paper explores alternative methods for re-engineering key national output and price indices using item-level data. Such re-engineering offers the promise of greatly improved key economic indicators along many dimensions.

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