Improving GDP Measurement: A Measurement-Error Perspective
S. Boragan Aruoba (),
Francis Diebold (),
Frank Schorfheide () and
Dongho Song ()
No 18954, NBER Working Papers from National Bureau of Economic Research, Inc
We provide a new and superior measure of U.S. GDP, obtained by applying optimal signal-extraction techniques to the (noisy) expenditure-side and income-side estimates. Its properties - particularly as regards serial correlation - differ markedly from those of the standard expenditure-side measure and lead to substantially-revised views regarding the properties of GDP.
JEL-codes: E01 E32 (search for similar items in EconPapers)
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Published as Aruoba, S. Borağan & Diebold, Francis X. & Nalewaik, Jeremy & Schorfheide, Frank & Song, Dongho, 2016. "Improving GDP measurement: A measurement-error perspective," Journal of Econometrics, Elsevier, vol. 191(2), pages 384-397.
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Journal Article: Improving GDP measurement: A measurement-error perspective (2016)
Working Paper: Improving GDP measurement: a measurement-error perspective (2013)
Working Paper: Improving GDP Measurement: A Measurement-Error Perspective (2013)
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