Big Take Economists May Be Using Bad Data to Make Big Decisions
Jan 26, 2024
Claudia Sahm, ex-Fed economist, discusses the reliability of data used by policymakers and economists, raising concerns about GDP predictions and job market indicators. The podcast also explores declining survey response rates, the impact on data quality, and the need to rebuild trust between the government and the public.
Chapters
Transcript
Episode notes
1 2 3 4 5
Introduction
00:00 • 2min
Questioning the Reliability of Data
02:22 • 5min
Declining Survey Response Rates and the Quality of Data
07:12 • 3min
Declining Response Rates to Government Surveys: A Symptom of Growing Distrust
10:02 • 7min
The Challenge of Measuring an Economy and the Urgency to Address Trust in Surveys
16:39 • 3min