1 option
Measuring Global Economic Activity / James D. Hamilton.
- Format:
- Book
- Author/Creator:
- Hamilton, James D.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w25778.
- NBER working paper series no. w25778
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2019.
- Summary:
- A number of economic studies have used a proxy for world real economic activity derived from shipping costs. This measure turns out to depend on a normalization that has substantive consequences of which users of the index had been unaware prior to this paper. This paper further evaluates this and alternative measures in terms of treatment of trends, coherence with world output, and ability to predict commodity prices. I conclude that measures derived from world industrial production offer a better indicator of global real economic activity.
- Notes:
- Print version record
- April 2019.
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