We use panel data from the German Socio-Economic Panel to estimate the determinants of language fluency of immigrants and its impact on earnings. Self reported measures of language proficiency contain substantial reporting errors. We specify a panel data model which takes explicit account of...

We exploit data on historical revisions to real-time estimates of the output gap to examine the implications of measurement error for the design of monetary policy, using the Federal Reserve's model of the U.S. economy, FRB/US. Measurement error brings about a substantial deterioration in...