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Structure Data 2014: HOW MICRODATA CAN SAY A LOT ABOUT MACROECONOMICS, David Soloff
The document discusses the relationship between microdata and macroeconomics, highlighting the need for more current and comprehensive data. It references various global incidents tied to food prices, suggesting a correlation between economic indicators and social unrest. The importance of focusing on quality over quantity in data collection is emphasized.
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Structure Data 2014: HOW MICRODATA CAN SAY A LOT ABOUT MACROECONOMICS, David Soloff
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- 2. HOW MICRODATA CANSAY A LOT ABOUT MACROECONOMICS David Soloff Premise Wednesday, March 26, 14
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- 5. “—no, a dreary,desolate and, indeed, quite abject and distressing one; what we might call, by way of eminence, the dismal science.” — Thomas Carlyle Wednesday, March 26, 14
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- 9. "There's still aCold War element to our statistics. We're kind of in a holding pattern. In many situations I found myself wishing we had more current data and broader data." — Alan Krueger http://on.wsj.com/1ggFq9c Wednesday, March 26, 14
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- 14. January 2007 September 2007 February2008 March 2008 April 2008 Mexico: “Tortilla Riots” West Bengal: Riots over food shortages and public corruption Cameroon: High fuel and food prices Senegal: Protests over high cost of living Haiti: Riots over rising food prices Yemen: Riots as price of wheat doubles, rice + vegetables up 20% Egypt: Riots over the price of bread November 2008 China: Contaminated milk due to high cattle feed prices October 2007 Russia: Gov’t pressures food producers to freeze prices Wednesday, March 26, 14
- 15. Food prices andthe incidence of violence in Africa [van Weezel 2013] Wednesday, March 26, 14
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- 24. Mar May JulSep Nov 0.940.960.981.001.021.04 China − CPI (Official) Premise − Food Staples Index Granger Causality: 0.94 Correlation: 0.93 Jan Mar May Jul Sep Nov 0.951.001.051.101.15 India − CPI (Official) Premise − Food Staples Index Granger Causality: 0.81 Correlation: 0.89 Wednesday, March 26, 14
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- 27. there are toomany strata to measure everything Wednesday, March 26, 14
- 28. “You need tofocus on quality. You’ll be better off with a small but carefully structured sample rather than a large sloppy sample.” — Hal Varian Wednesday, March 26, 14
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