Journal of Economic Perspectives
ISSN 0895-3309 (Print) | ISSN 1944-7965 (Online)
Distinguished Lecture on Economics in Government-What We Don't Know Could Hurt Us: Some Reflections on the Measurement of Economic Activity
Journal of Economic Perspectives
vol. 19,
no. 3, Summer 2005
(pp. 3–18)
(Complimentary)
Abstract
The routine production of U.S. economic statistics dates back to the early part of the twentieth century. But in recent decades, as services output has continued to expand a system of economic statistics that had been designed during the manufacturing era began to seem increasingly outdated. Over the past decade, the statistical agencies have done yeoman work to expand the availability and quality of service sector statistics, but the task is far from completed. Moreover, the traditional accounting framework for economic statistics has focused almost exclusively on market transactions. Looking ahead, more comprehensive measurement of productive activities, however they may be organized, must be a priority.Citation
Abraham, Katharine, G. 2005. "Distinguished Lecture on Economics in Government-What We Don't Know Could Hurt Us: Some Reflections on the Measurement of Economic Activity." Journal of Economic Perspectives, 19 (3): 3–18. DOI: 10.1257/089533005774357833JEL Classification
- C81 Methodology for Collecting, Estimating, and Organizing Microeconomic Data; Data Access
- C82 Methodology for Collecting, Estimating, and Organizing Macroeconomic Data; Data Access
- E01 Measurement and Data on National Income and Product Accounts and Wealth; Environmental Accounts
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