Introduction: Big Data for Twenty- First- Century Economic Statistics: The Future Is Now

Chapters in this book

1. Frontmatter i
2. Contents vii
3. Prefatory Note xi
4. Introduction: Big Data for Twenty- First- Century Economic Statistics: The Future Is Now 1
5. I. Toward Comprehensive Use of Big Data in Economic Statistics
6. 1. Reengineering Key National Economic Indicators 25
7. 2. Big Data in the US Consumer Price Index 69
8. 3. Improving Retail Trade Data Products Using Alternative Data Sources 99
9. 4. From Transaction Data to Economic Statistics 115
10. 5. Improving the Accuracy of Economic Measurement with Multiple Data Sources 147
11. II. Uses of Big Data for Classification
12. 6. Transforming Naturally Occurring Text Data into Economic Statistics 173
13. 7. Automating Response Evaluation for Franchising Questions on the 2017 Economic Census 209
14. 8. Using Public Data to Generate Industrial Classification Codes 229
15. III. Uses of Big Data for Sectoral Measurement
16. 9. Nowcasting the Local Economy 249
17. 10. Unit Values for Import and Export Price Indexes 275
18. 11. Quantifying Productivity Growth in the Delivery of Important Episodes of Care within the Medicare Program Using Insurance Claims and Administrative Data 297
19. 12. Valuing Housing Services in the Era of Big Data 339
20. IV. Methodological Challenges and Advances
21. 13. Off to the Races 373
22. 14. A Machine Learning Analysis of Seasonal and Cyclical Sales in Weekly Scanner Data 403
23. 15. Estimating the Benefits of New Products 437
24. Contributors 475
25. Author Index 479
26. Subject Index 485