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.

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Year of publication:	2013
Authors:	Aruoba, S. Boragan ; Diebold, Francis X. ; Nalewaik, Jeremy ; Schorfheide, Frank ; Song, Dongho
Institutions:	Federal Reserve Bank of Philadelphia
Subject:	Income \| Expenditures \| Public \| Business cycles \| Recessions

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Extent:	application/pdf
Series:	Working Papers.
Type of publication:	Book / Working Paper
Notes:	Number 13-16
Source:	RePEc - Research Papers in Economics

Persistent link: https://ebvufind01.dmz1.zbw.eu/10010652361