Economic Forecasts in the Age of Big Data

To be sure, the economic data have softened.

Generally speaking, the countries have relatively good mastery of the socio economic statistics.

For example, OECD has a history of expressing trade data in terms of the International Standard Industrial Classification of All Economic Activities (ISIC) and the Statistics Division introduces trade data in terms of the Classification by Broad Economic Categories (BEC).

The global land degradation assessment and the work of the six pilot countries will allow identification of ways in which the assessment can be done at different scales using harmonized methodologies.

(b) Improved collection and management of data (biophysical and socio economic) and elaboration of systems for the collection and processing of harmonized data for all countries in the subregion

E. Harmonization of data collection activities with environmental economic accounting concepts and definitions

Under an initiative by the coordinator of the group of least developed countries, a first questionnaire on the NAPA preparation process was circulated at the twentieth sessions of the subsidiary bodies among representatives of the LDCs.

The ECE Statistical Division is increasingly using diskettes for data collection in the International Environmental Data Service (IEDS).

Source Federal Institute for statistics, Statistical data on economic and other trends, several editions

(e) Work towards the harmonization of data collection activities of environment and related statistics with concepts and definitions of environmental economic accounting, including the assurance of data quality.

Moreover, experimental data suggest that, contrary to mainstream economic theory, people s preferences are changeable.

In joint research with Nicolas Coeurdacier and Stéphane Guibaud, we show that economic data supports this view.

In the exchange of environmental data between ECE and other international institutions, diskettes have become the most important medium.

So, while the economic numbers may look bad, the country s political leadership looks great.

Stated otherwise, national accounts as systems may be distinguished from the economic data associated with those systems.

Elements of such a harmonized data collection process include economic census, business registers and administrative data.

(a) Firstly, it compiles a wide range of economic, social and environmental data and information and analyses them with a view to identifying trends and taking stock of policy options

In addition, pilot countries will be fundamental in the dissemination of harmonized assessment tools in their regions and are expected to assist other countries that are interested in carrying out detailed national land degradation assessments in the future they will also be fundamental in refining the findings of the global study.

The most obvious fact in the data is the great disparity in the economic positions of castes sharing the same ritual rank.

In February 2004, the Department of Economic and Social Affairs launched the Partnerships for Sustainable Development database.

The Covenant on Economic, Social and Cultural Rights has developed reporting guidelines that may prove useful in the collection of this data.

Data on the estimates and projections of the economically active population are supplied on tape to ECA, FAO, the World Bank and UNIDO.

In the northern Mediterranean, many databases are available in farming resources, land use and socio economic conditions.

The improved maintenance of business registers and increased use of administrative data go a long way in reducing the response burden, improving the response rate of economic enquiries and minimizing the resources required for data collection.

And, indeed, recent data point to a rapidly worsening economic environment in Germany, where the trade surplus has shrunk dramatically in recent months.

Recent economic data in China, India, Brazil, and Turkey point to the weakest growth performance in these countries in years.

Recognizing that the availability of fundamental framework data set, such as national administrative divisions, are crucial to the analysis and management of socio economic phenomena,

The benefits of coordinating activities in economic statistics are evident and will ultimately result in resource efficient data collection activities.

Statistical metadata and data quality

Indicators, data collection, data disaggregation

This approach is a sound strategy from a longer term economic perspective, allowing better collection of data for economic policy formulation, more foreign exchange and development finance, and a better exchange rate determination.

And the recent optimism that economies will bottom out by mid year have been dashed by the most recent economic data.

Under the new framework, the overall level of Equalization and Territorial Formula Financing will be guaranteed and not subject to fluctuations from changes to economic data.

The Economic and Social Commission for Asia and the Pacific (ESCAP) initiated work on disability related data, and carried out a workshop for field testing in seven countries.

(b) To support data collection on biophysical and socio economic aspects of combating desertification, and collect and disseminate local technology, knowledge and know how and integrate them into modern technology

(b) To support data collection on biophysical and socio economic aspects of combating desertification, and the inventory and disseminate local technology, knowledge and know how and integrate them with modern technology

Therefore, it is recommended that international agencies formulate and implement a coordinated work programme on data dissemination with the objective of creating a single portal for economic statistics, including industrial statistics, that provides access to unified international databases.

The Statistical Commission, recognizing the economic importance of distributive trade, acknowledging that the availability and quality of national data on distributive trade needs improvement and expressing concern regarding the international comparability of such data, may wish

(b) To advise the Statistics Division that the draft revised recommendations reflect new developments in commercial practices, new data sources and data compilation arrangements, as well as recent and ongoing revisions in other areas of economic statistics, such as national accounts, classifications and industrial statistics

The summary of the analysis of data accuracy and data origin

Because the data is hidden down in the databases.

The largest repository is the Inter university Consortium for Political and Social Research (ICPSR) at the University of Michigan, which provides access to an extensive collection of downloadable political and social data for the United States and the world.

The data portal provides access to a broad collection of harmonized environmental and socio economic data sets from authoritative sources at the global, regional, subregional and national levels and allows basic data analysis and the creation of maps and graphics.

On the other hand, a data dictionary is a data structure that stores metadata, i.e., (structured) data about data.