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The papers in this volume analyze the deployment of Big Data to
solve both existing and novel challenges in economic measurement.
The existing infrastructure for the production of key economic
statistics relies heavily on data collected through sample surveys
and periodic censuses, together with administrative records
generated in connection with tax administration. The increasing
difficulty of obtaining survey and census responses threatens the
viability of existing data collection approaches. The growing
availability of new sources of Big Data-such as scanner data on
purchases, credit card transaction records, payroll information,
and prices of various goods scraped from the websites of online
sellers-has changed the data landscape. These new sources of data
hold the promise of allowing the statistical agencies to produce
more accurate, more disaggregated, and more timely economic data to
meet the needs of policymakers and other data users. This volume
documents progress made toward that goal and the challenges to be
overcome to realize the full potential of Big Data in the
production of economic statistics. It describes the deployment of
Big Data to solve both existing and novel challenges in economic
measurement, and it will be of interest to statistical agency
staff, academic researchers, and serious users of economic
statistics.
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