MEASUREMENT ERROR IN MACROECONOMIC DATA AND ECONOMICS RESEARCH: DATA REVISIONS, GROSS DOMESTIC PRODUCT, AND GROSS DOMESTIC INCOME
利用美国经济分析局修订GDP数据并发布GDI这一事实,检验了测量误差对经济学研究的影响,发现使用修订后GDP重新估计23个顶级期刊模型,结果定性一致,但用GDI替代GDP时,13%的模型结论不同。
We use a preanalysis plan to analyze the effect of measurement error on economics research using the fact that the Bureau of Economic Analysis both revises its gross domestic product (GDP) data and also publishes a second, theoretically identical estimate of U.S. output that only differs from GDP due to measurement error: gross domestic income (GDI). Using a sample of 23 models published in top economics journals, we find that reestimating models using revised GDP always gives the same qualitative result as the original publication. Estimating models using GDI instead of GDP gives a different qualitative result for three of 23 models (13%).