Measuring Economic Activity: Challenges and Opportunities

Economic statistics are essential to the smooth functioning of financial markets, to
international trade, and for policymaking. Yet the resources devoted to improving economic measurement through research are very limited. The NBER hopes to convene a one-and-a-half day meeting to discuss the possible contours of a new Economic Measurement Research Center (EMRC). The meeting has two objectives: 1) to create an initial menu of key measurement questions for which answers are essential to modernizing the nation’s economic statistics and 2) to identify steps that could be taken to support effective collaboration between academic researchers and statistical agency staff to address these questions.