Hard-to-Measure Goods and Services: Essays in Honor of Zvi by Ernst R. Berndt, Charles R. Hulten

By Ernst R. Berndt, Charles R. Hulten

The celebrated economist Zvi Griliches’s whole profession might be considered as an try and improve the reason for accuracy in financial dimension. His curiosity within the reasons and results of technical development resulted in his pathbreaking paintings on rate hedonics, now the relevant analytical method to be had to account for alterations in product caliber. Hard-to-Measure items and Services, a suite of papers from an NBER convention held in Griliches’s honor, is a tribute to his many contributions to present monetary proposal. right here, best students of financial size deal with concerns within the parts of productiveness, fee hedonics, capital dimension, diffusion of recent applied sciences, and output and value size in “hard-to-measure” sectors of the economy.  Furthering Griliches’s important paintings that modified the way in which economists take into consideration the U.S. nationwide source of revenue and Product debts, this quantity is vital for all these drawn to the hard work industry, financial development, creation, and genuine output.

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Finally, considerations of political economy come into play because the accuracy of economic measurement affects policy in a variety of ways, and changes in policy can, in turn, affect economic behavior. 2 The Quantitative Transformation The convergence of theory, statistics, and data in the 1950s and 1960s involved more than the incorporation of new techniques and methods: it also involved a shift in the sense of what was possible. Koopmans, for example, starts his famous article on “Measurement without Theory” with the example of synergism between the empiricism of Tycho Brahe and the theory of Johannes Kepler in the development of celestial mechanics.

The Block statements list the variables that must match exactly in that pass in order for a record pair to be linked. In each pass, a worker record from the Write-In file is a candidate for linkage only if the Block variables agree completely with the set of designated Block variables on analogous establishment records in the SSEL. The Match statements contain a set of additional variables from each record to be compared. These variables need not agree completely for records to be linked, but are assigned weights based on their value and reliability.

American Economic Review 58 (1): 1–17. Greenspan, Alan. 1995. Prepared statement. In Consumer Price Index: Hearings before the Committee on Finance, United States Senate, 109–15. Washington, DC: Government Printing Office. ———. 1998. Remarks at the annual meeting of the American Economic Association and the American Finance Association, Chicago. Griliches, Zvi. 1986. Economic data issues. In Handbook of econometrics. Vol. 3, ed. Zvi Griliches and Michael D. Intriligator, 1465–1514. Amsterdam: Elsevier Science.

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