Data
Charlie Bean calls for ‘culture changes’ at ONS in final statistics report
ONS should set up two centres to better measure economic activity, Bean says; using these centres will allow the ONS to fully ‘capture’ the digital economy
BIS paper finds forecasters put too much faith in private information
‘Noisy information model’ of inflation forecasting implies forecasters put inefficient weightings on private information to differentiate themselves
BIS stats show further retreat in global banking flows
Falling claims on China drive bulk of overall reduction in cross-border claims, but pace of decline slows compared with previous quarter
Debelle highlights ‘rich potential’ in regulatory data
Regulatory reporting is still in its infancy, but already useful trends are starting to emerge, the RBA assistant governor says
Modern central banks need big data strategy, Riksbank economists say
Central banks need to adapt to growing data volumes, but the organisational changes required could help departments work together more closely, economists say
Bean calls for overhaul of UK statistics
Report dissecting UK statistics production calls for national statistics office to become more agile, make use of new forms of data, and tackle shortcomings
Presentation of big data key to inspiring research, academic argues
New York University professor says financial regulators need to learn from large-scale scientific projects and online retailers to encourage ‘research communities’
The big data revolution and central banking
Central banks are increasingly turning their attention to the challenge of analysing very large datasets. But is ‘big data’ as revolutionary as some claim?