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The Data Revolution and Economic Analysis

In: Innovation Policy and the Economy, Volume 14

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  • Liran Einav
  • Jonathan Levin

Abstract

Many believe that “big data” will transform business, government and other aspects of the economy. In this article we discuss how new data may impact economic policy and economic research. Large-scale administrative datasets and proprietary private sector data can greatly improve the way we measure, track and describe economic activity. They also can enable novel research designs that allow researchers to trace the consequences of different events or policies. We outline some of the challenges in accessing and making use of these data. We also consider whether the big data predictive modeling tools that have emerged in statistics and computer science may prove useful in economics.

(This abstract was borrowed from another version of this item.)

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This chapter was published in:
This item is provided by National Bureau of Economic Research, Inc in its series NBER Chapters with number 12942.

Handle: RePEc:nbr:nberch:12942

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  1. Oleksiy Kryvtsov & Peter J. Klenow, 2004. "State-Dependent or Time-Dependent Pricing: Does It Matter For Recent U.S. Inflation?," Computing in Economics and Finance 2004 277, Society for Computational Economics.
  2. Liran Einav & Theresa Kuchler & Jonathan D. Levin & Neel Sundaresan, 2011. "Learning from Seller Experiments in Online Markets," NBER Working Papers 17385, National Bureau of Economic Research, Inc.
  3. Thomas Piketty & Emmanuel Saez, 2003. "Income Inequality In The United States, 1913-1998," The Quarterly Journal of Economics, MIT Press, vol. 118(1), pages 1-39, February.
  4. Hyunyoung Choi & Hal Varian, 2012. "Predicting the Present with Google Trends," The Economic Record, The Economic Society of Australia, vol. 88(s1), pages 2-9, 06.
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Blog mentions

As found by EconAcademics.org, the blog aggregator for Economics research:
  1. big data and economic research
    by René Böheim in Econ Tidbits on 2013-05-14 05:38:00
  2. The fuss about big data
    by Economic Logician in Economic Logic on 2013-09-25 14:01:00
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Cited by:
  1. Jin-Hyuk Kim & Tin Cheuk Leung, 2013. "Quantifying the Impacts of Digital Rights Management and E-Book Pricing on the E-Book Reader Market," Working Papers 13-03, NET Institute.
  2. Shane Greenstein & Avi Goldfarb & Catherine Tucker, 2013. "Introduction to "Economics of Digitization"," NBER Chapters, in: Economics of Digitization National Bureau of Economic Research, Inc.

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