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Federal Reserve Bank of Philadelphia
Improving GDP measurement: a measurement-error perspective
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.
Cite this item
S. Boragan Aruoba & Francis X. Diebold & Jeremy J. Nalewaik & Frank Schorfheide & Dongho Song, Improving GDP measurement: a measurement-error perspective, Federal Reserve Bank of Philadelphia, Working Papers 13-16, 2013.
Keywords: Income ; Expenditures; Public ; Business cycles ; Recessions
This item with handle RePEc:fip:fedpwp:13-16
is also listed on EconPapers
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