Data
GDP needs to be supplemented with welfare measure – economist
Daniel Sichel defends GDP as a measure of production, but says it is not enough on its own
UK lawmakers demand end to inflation index ‘merry-go-round’
UK Statistics Authority called upon to seek permission from finance minister to amend RPI errors
UK economy stumbles as Brexit looms
Quarterly growth slips to 0.2% in final quarter of 2018, and monthly growth turns negative in December
Data overhaul needed to enhance insolvency frameworks – IMF
Paper highlights the importance of data in analysing efficiency of current resolution policies
Euro outpacing dollar as cross-border credit grows
Latest BIS statistics show widening gap between credit growth in the two major currencies
Paper proposes ‘re-engineering’ US statistics
System for compiling statistics is dated and overly complex, authors say
UK lawmakers demand fix for RPI miscalculation
House of Lords says Statistics Authority’s failure to fix error has left many members of public poorer
Growth keeping global debt-to-GDP just below all-time high – IIF
Latest monitoring report puts debt at three times global GDP, with some countries especially vulnerable
Spending behaviour in unemployment does not fit with rational models – paper
Behavioural models of “present-biased or myopic” choices fit better with the data, authors say
US payrolls data proves strong
Non-farm payrolls beat expectations and wage growth rises, despite fears of a global slowdown
Google’s data tool has potential for countries with data gaps – IMF research
Authors explore how search queries can be used to track human behaviour
Angola improves data transparency with new hub
Statistics deemed “critical” by the International Monetary Fund will be published in one place
Fed to expand market data collection efforts
The scope and availability of data must keep up with evolving markets, Lael Brainard says
Bank of England to overhaul consumer interest rate statistics
Changes are designed to ensure the statistics reflect consumers’ experiences “as closely as possible”
PRA using AI to understand connectivity of rulebook
UK regulator is using Google search engine algorithm to see if rulebook can be streamlined
US unemployment remains at lowest level since 1969
Hourly wage growth is at highest rate since 2009, but year-on-year inflation falls to 2%
BoE paper proposes nowcast method for GDP revisions
Dynamic factor model reveals information on how early estimates may be revised, authors say
IMF cuts global growth forecasts
Likelihood of further negative shocks has risen, warns Maurice Obstfeld
Technology shocks unbalance job market – paper
A technology shock that permanently raises productivity leads to unemployment, authors say
IMF paper builds corruption indicator using big data
Corruption shocks negatively impact long-term real outcomes, authors say
Bank of Mauritius lowers inflation forecast
Adverse shocks to food prices are subsiding, central bank says
Imperfect algorithms impact market pricing – Fed paper
News-parsing algorithms create temporary distortions and may cut liquidity, paper finds
RBA trims inflation projections on low wage growth
Weaker outlook leads RBA to cut CPI forecasts to 1.75% in December 2018 from 2.25%
Big data in central banks focus report 2018
The third Central Banking big data focus report delves further into recent trends as central banks grapple with the question of upgrading their approaches to data