publication . Article . Other literature type . 2008

Taking the Pulse of the Economy: Measuring GDP

Landefeld, J. Steven; Seskin, Eugene P; Fraumeni, Barbara M;
Open Access
  • Published: 01 Mar 2008 Journal: Journal of Economic Perspectives, volume 22, pages 193-216 (issn: 0895-3309, Copyright policy)
  • Publisher: American Economic Association
Abstract
<jats:p> This article provides a broad overview of the measurement techniques used in estimating GDP and the national accounts in the United States. In the United States, the GDP and the national accounts estimates are fundamentally based on detailed economic census data and other information that is available only once every five years. The challenge lies in developing a framework and methods that take these economic census data and combine them using a mosaic of monthly, quarterly, and annual economic indicators to produce quarterly and annual GDP estimates. One problem is that the other economic indicators that are used to extrapolate GDP in between the five-...
Subjects
free text keywords: Economics and Econometrics, jel:E01, jel:E20
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