Measurement and Metrics
Measuring variables that accurately reflect the desired effect is part of designing successful statistical and econometric studies. This chapter discusses challenges related to data compilation and how inadequate proxies, selection bias and measurement error can undermine empirical projects. Two examples illustrate how mismeasurement has been successfully exploited in recent studies in economic history.
JEL ClassificationC43 C52 C81 C82 E01 N01
- Bolt, J., and J.L. van Zanden. 2014. The Maddison Project: Collaborative Research on Historical National Accounts. The Economic History Review 67 (3): 627–651.Google Scholar
- Engerman, S.L. 1997. The Standard of Living Debate in International Perspective: Measures and Indicators. In Health and Welfare during Industrialization, 17–46. Chicago: University of Chicago Press.Google Scholar
- Hanley, N., L. Oxley, D. Greasley, E. McLaughlin, and M. Blum. 2014. Empirical Testing of Genuine Savings as an Indicator of Weak Sustainability: A Three-Country Analysis of Long-Run Trends. Environmental and Resource Economics 63 (2): 1–26.Google Scholar
- Maddison, A. 2007. Contours of the World Economy 1–2030 AD: Essays in Macro-economic History. Oxford: Oxford University Press.Google Scholar