More on the Quality of Economic Data

Yesterday I posted two pieces relating to the quality of economic data, in general terms, and with reference to China.

I'm firmly of the view that we need to be paying more attention to data quality than we currently do as economists. We also need to keep in mind that data are frequently revised, and this has implications for policy conclusions based on preliminary figures.

To help you with your reading on this topic, here's a small selection of papers that touch on different aspects of this topic:

• Cardoso, F. & C. Duarte, "Back to Basics: Data Revisions"
• Carson, C. S., "Toward a Framework of Assessing Data Quality"
• Judge, G. & L. Schechter, "Detecting Problems in Survey Data Using Benford's Law"
• Juster, F. T. & J. P. Smith, "Improving the Quality of Economic Data: Lessons From the HRS and AHEAD"
• Michalski, T. & G. Stoltz, "Do Countries Falsify Economic Data Strategically? Some Evidence That They Do""
• OECD, "Understanding Economic Statistics: An OECD Perspective"
• Runkle, D. E., "Revisionist History: How Data Revisions Distort Economic Policy Research"

© 2013, David E. Giles