NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Improving GDP Measurement: A Measurement-Error Perspective

S. Boraǧan Aruoba, Francis X. Diebold, Jeremy Nalewaik, Frank Schorfheide, Dongho Song

NBER Working Paper No. 18954
Issued in April 2013
NBER Program(s):   AP   EFG

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.

download in pdf format
   (597 K)

email paper

Machine-readable bibliographic record - MARC, RIS, BibTeX

Document Object Identifier (DOI): 10.3386/w18954

Published: 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. citation courtesy of

Users who downloaded this paper also downloaded* these:
Aruoba, Diebold, Nalewaik, Schorfheide, and Song w17421 Improving GDP Measurement: A Forecast Combination Perspective
Reinhart and Rogoff w15639 Growth in a Time of Debt
Friedman w18960 The Simple Analytics of Monetary Policy: A Post-Crisis Approach
Einav and Levin w19035 The Data Revolution and Economic Analysis
Gennaioli, La Porta, Lopez-de-Silanes, and Shleifer w18937 Growth in Regions
 
Publications
Activities
Meetings
NBER Videos
Themes
Data
People
About

National Bureau of Economic Research, 1050 Massachusetts Ave., Cambridge, MA 02138; 617-868-3900; email: info@nber.org

Contact Us