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Measurement and Metrics

In: An Economist’s Guide to Economic History

Author

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  • Matthias Blum

    (Queen’s University Belfast)

Abstract

Measuring variables that accurately reflect the desired effect is part of designing successful statistical and econometric studies. This chapter discusses challenges related to data compilation and how inadequate proxies, selection bias and measurement error can undermine empirical projects. Two examples illustrate how mismeasurement has been successfully exploited in recent studies in economic history.

Suggested Citation

  • Matthias Blum, 2018. "Measurement and Metrics," Palgrave Studies in Economic History, in: Matthias Blum & Christopher L. Colvin (ed.), An Economist’s Guide to Economic History, chapter 44, pages 379-384, Palgrave Macmillan.
    • Handle: RePEc:pal:palscp:978-3-319-96568-0_44
    DOI: 10.1007/978-3-319-96568-0_44
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    More about this item

    JEL classification:

    • C43 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Index Numbers and Aggregation
    • C52 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Evaluation, Validation, and Selection
    • C81 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Microeconomic Data; Data Access
    • C82 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Macroeconomic Data; Data Access
    • E01 - Macroeconomics and Monetary Economics - - General - - - Measurement and Data on National Income and Product Accounts and Wealth; Environmental Accounts
    • N01 - Economic History - - General - - - Development of the Discipline: Historiographical; Sources and Methods

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