Economic statistics

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Economic statistics is a topic in applied statistics and applied economics that concerns the collection, processing, compilation, dissemination, and analysis of economic data. It is closely related to business statistics and econometrics. [1] It is also common to call the data themselves "economic statistics", but for this usage, "economic data" is the more common term.



The data of concern to economic statistics may include those of an economy within a region, country, or group of countries. Economic statistics may also refer to a subtopic of official statistics for data produced by official organizations (e.g. national statistical services, intergovernmental organizations such as United Nations, European Union or OECD, central banks, and ministries).

Analyses within economic statistics both make use of and provide the empirical data needed in economic research, whether descriptive or econometric. They are a key input for decision making as to economic policy. The subject includes statistical analysis of topics and problems in microeconomics, macroeconomics, business, finance, forecasting, data quality, and policy evaluation. [2] It also includes such considerations as what data to collect in order to quantify some particular aspect of an economy and of how best to collect in any given instance. [3]

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  1. Becker, William E; Greene, William H (2001-11-01). "Teaching Statistics and Econometrics to Undergraduates". Journal of Economic Perspectives. American Economic Association. 15 (4): 169–182. doi: 10.1257/jep.15.4.169 . ISSN   0895-3309.
  2. • Charles J. Bullock, 1919. "Prefatory Statement," Review of Economic Statistics, 1(1), [unnumbered page].
      Arnold Zellner, 1983. "Editorial Statement," Journal of Business and Economic Statistics, 1(1), pp. 1-4.
      Eric Ghysels and Alastair Hall, 2002. "Editors' Introduction to Twentieth Anniversary Commemorative Issue," Journal of Business and Economic Statistics, 20(1), pp. 1-4.
  3. Giovannini, Enrico (2008). Understanding economic statistics : an OECD perspective. Organisation for Economic Co-operation and Development. Paris: OECD. ISBN   978-92-64-04698-6. OCLC   263693127.