Why Statistics Matter
Central Banking, v. XVI, no. 2, November 2005
2 Pages Posted: 22 Jan 2013
Date Written: 2005
More care should be taken in presenting important statistics. Error and uncertainty in economic data renders it noisy As the noise in reported date increases, it interferes with the detection and interpretation of movements in the true value of the underlying data. Indeed, a noisy series is especially problematic when it is used to design, implement and interpret monetary policy.
Keywords: Steve Hanke, Central Banking, Statistics, Economic Data
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