MEASUREMENT ERROR IN MACROECONOMIC DATA AND ECONOMICS RESEARCH: DATA REVISIONS, GROSS DOMESTIC PRODUCT, AND GROSS DOMESTIC INCOME
Andrew C. Chang and
Phillip Li ()
Economic Inquiry, 2018, vol. 56, issue 3, 1846-1869
We use a preanalysis plan to analyze the effect of measurement error on economics research using the fact that the Bureau of Economic Analysis both revises its gross domestic product (GDP) data and also publishes a second, theoretically identical estimate of U.S. output that only differs from GDP due to measurement error: gross domestic income (GDI). Using a sample of 23 models published in top economics journals, we find that reestimating models using revised GDP always gives the same qualitative result as the original publication. Estimating models using GDI instead of GDP gives a different qualitative result for three of 23 models (13%). (JEL C80, C82, E01)
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5) Track citations by RSS feed
Downloads: (external link)
Working Paper: Measurement Error in Macroeconomic Data and Economics Research: Data Revisions, Gross Domestic Product, and Gross Domestic Income (2015)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:bla:ecinqu:v:56:y:2018:i:3:p:1846-1869
Ordering information: This journal article can be ordered from
http://www.blackwell ... bs.asp?ref=0095-2583
Access Statistics for this article
Economic Inquiry is currently edited by Preston McAfee
More articles in Economic Inquiry from Western Economic Association International Contact information at EDIRC.
Bibliographic data for series maintained by Wiley Content Delivery ().