Administrative data tops list as alternative data source
Research and forecasting remain key areas of application for central bank economists
Central bank economists’ top choice of alternative data source is administrative, the Economics Benchmarks 2023 reveals.
Most of the 33 participating institutions say they use multiple alternative data sources, but administrative data – data produced as a by-product of government services – is the most widely applied, at 27 (81.8%) central banks. This is followed by web scraping at 21 (63.6%) jurisdictions, which comes ahead of Google search trends at 20 (60.6%) countries.
In the 2022 benchmark
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