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Project Citation: 

Ehrlich, Gabriel, Haltiwanger, John, Jarmin, Ron, Johnson, David, and Shapiro, Matthew D. Replication data for: Minding Your Ps and Qs: Going from Micro to Macro in Measuring Prices and Quantities. Nashville, TN: American Economic Association [publisher], 2019. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-12-07. https://doi.org/10.3886/E116451V1

Project Description

Summary:  View help for Summary Key macro indicators such as output, productivity, and inflation are based on a complex system across multiple statistical agencies using different samples and 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 reengineering key national output and price indices using item-level data. Such reengineering offers the promise of greatly improved key economic indicators along many dimensions.

Scope of Project

JEL Classification:  View help for JEL Classification
      C43 Index Numbers and Aggregation; Leading indicators
      E20 Consumption, Saving, Production, Investment, Labor Markets, and Informal Economy: General (includes Measurement and Data)
      E30 Prices, Business Fluctuations, and Cycles: General (includes Measurement and Data)


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