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Measuring Money Growth When Financial Markets are Changing
Stock, James H. - 2011
This paper examines the problem of measuring the growth of a monetary aggregate in the presence of innovations in financial markets and changes in the relationship between individual assets and output. We propose constructing a monetary aggregate so that it is a good leading indicator of nominal...
Persistent link: https://www.econbiz.de/10013125265
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Commodity Prices as a Leading Indicator of Inflation
Boughton, James M.; Branson, William H. - 2021
, and uses the data on individual commodities to generate the optimum weights in a commodity price index for forecasting G-7 … changes in commodity prices to lead those in consumer prices, at least when the data are denominated in a broad index of major … aggregate (multi-country) consumer price index, the results may not be sufficiently stable to improve post-sample forecasts …
Persistent link: https://www.econbiz.de/10013220414
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Forecasting with the Index of Leading Indicators
Vaccara, Beatrice N.; Zarnowitz, Victor - 2021
The composite index of leading indicators is found to be a valuable tool for predicting not only the direction but also … index as a predictor of (1) business cycle turning points as dated by the National Bureau of Economic Research and (2 …) quantitative changes in real GNP and the composite index of coincident indicators. Specific smoothing rules are identified which …
Persistent link: https://www.econbiz.de/10013244130
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Banning Foreign Pharmacies from Sponsored Search : The Online Consumer Response
Chesnes, Matthew - 2014
Increased competition from the internet has raised concerns about the quality of prescription drugs sold online. Given the pressure from the Department of Justice, Google agreed to ban pharmacies not certified by the National Association of Boards of Pharmacy (NABP) from sponsored search...
Persistent link: https://www.econbiz.de/10013054516
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How Artificial Intelligence and Machine Learning Can Impact Market Design
Milgrom, Paul R. - 2018
In complex environments, it is challenging to learn enough about the underlying characteristics of transactions so as to design the best institutions to efficiently generate gains from trade. In recent years, Artificial Intelligence has emerged as an important tool that allows market designers...
Persistent link: https://www.econbiz.de/10012928311
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Online Auctions
Ockenfels, Axel; Reiley, David; Sadrieh, Abdolkarim - 2021
The economic literature on online auctions is rapidly growing because of the enormous amount of freely available field data. Moreover, numerous innovations in auction-design features on platforms such as eBay have created excellent research opportunities. In this article, we survey the...
Persistent link: https://www.econbiz.de/10013224430
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Search Engines and Data Retention : Implications for Privacy and Antitrust
Chiou, Lesley - 2017
This paper investigates whether larger quantities of historical data affect a firm's ability to maintain market share in Internet search. We study whether the length of time that search engines retained their server logs affected the apparent accuracy of subsequent searches. Our analysis...
Persistent link: https://www.econbiz.de/10012947653
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Axiomatic and Economic Approaches to International Comparisons
Diewert, W. Erwin - 2010
The paper considers the problem of choosing a multilateral system of index numbers in order to make aggregate price and … index number formula. The great variation in relative prices and quantities in the international context means that the … approach, the concept of a superlative bilateral index number formula (which can adequately model substitution effects) is …
Persistent link: https://www.econbiz.de/10013137597
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Price Indexes for Clinical Trial Research : A Feasibility Study
Berndt, Ernst R. - 2014
Biomedical R&D Price Index (BRDPI) focused on input costs rose only 2.2-fold. Most of the disparity appears to be attributable to … agencies to develop a producer price index for this type of R&D activity, contributing to broader efforts to develop a deflator …
Persistent link: https://www.econbiz.de/10013064303
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Measuring Real Consumption and CPI Bias Under Lockdown Conditions
Diewert, Erwin - 2020
Millions of goods and services are now unavailable in many countries due to the current coronavirus pandemic, dramatically impacting on the construction of key economic statistics used for informing policy. This situation is unprecedented; hence methods to address it have not previously been...
Persistent link: https://www.econbiz.de/10012833756