1 option
The Billion Prices Project: Using Online Prices for Measurement and Research / Alberto Cavallo, Roberto Rigobon.
- Format:
- Book
- Author/Creator:
- Cavallo, Alberto.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w22111.
- NBER working paper series no. w22111
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Other Title:
- Billion Prices Project
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2016.
- Summary:
- New data-gathering techniques, often referred to as "Big Data" have the potential to improve statistics and empirical research in economics. In this paper we describe our work with online data at the Billion Prices Project at MIT and discuss key lessons for both inflation measurement and some fundamental research questions in macro and international economics. In particular, we show how online prices can be used to construct daily price indexes in multiple countries and to avoid measurement biases that distort evidence of price stickiness and international relative prices. We emphasize how Big Data technologies are providing macro and international economists with opportunities to stop treating the data as "given" and to get directly involved with data collection.
- Notes:
- Print version record
- March 2016.
The Penn Libraries is committed to describing library materials using current, accurate, and responsible language. If you discover outdated or inaccurate language, please fill out this feedback form to report it and suggest alternative language.