Large-scale commercial data for economic analysis

John W Galbraith

Private firms collect many types of data that can be of value in economic analysis, and this data is increasingly being used by researchers to supplement official economic statistics, and in some cases to answer questions that cannot be addressed with traditional data. This chapter reviews a number of types of commercial data that have been exploited, both for ongoing monitoring of the economy and to address research questions in novel ways. We emphasise types of data that can be collected electronically and on a large scale.

INTRODUCTION

Traditionally, the most important economic data has come from official sources, usually government statistical agencies or central banks. Many of these data series are obtained through surveys, implying that construction of the data takes a substantial amount of time, so that the data is available with some time lag after the period to it applies. For example, gross domestic product (GDP) data is available in most developed countries at least six to eight weeks after the end of the period being measured.

This official data remains important; the breadth of its coverage of the economy may be difficult to match in any other way. Nonetheless

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here