Review of Economic indicators for professionals by Charles Steindel
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My first job after my PhD was working as a junior economist at the UK Treasury. In those days, long before the Bank of England gained independence and took control of monetary policy, a key part of my job was to prepare the monthly snapshot of the economy for those senior officials who advised on setting interest rates. It was my first education in the details of economic statistics: where they were published, what they meant, how they were seasonally adjusted, their limitations, and so on.
For practical knowledge about statistics (as opposed to training in econometric theory and methods) does not form part of formal economics training, at undergraduate or graduate levels. Every applied economist, no matter whether they work for a government body, think tank, or private sector employer, essentially learns about economic indicators on the job. This is a strange state of affairs when you think about it. Most professional economists handle statistics, but for the most part their knowledge...
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- Whelan, Karl. 2000. A Guide to the Use of Chain Aggregated NIPA Data. Federal Reserve Board. https://www.federalreserve.gov/pubs/feds/2000/200035/200035pap.pdf. Accessed 28 October 2018.