Christian Hansen, 27 May 2016

Big data is changing economics and the way causal relationships are studied. In this video, Christian Hansen and Soumaya Keynes discuss the importance of big data for econometrics. Big data offers a lot of information and it is easier to draw policy lessons. It also gives more flexibility without forcing researchers to impose control variables, allowing more reliable conclusions to be obtained. This video was recorded in March 2016 during the Royal Economic Society’s Annual Conference held at the University of Sussex.

Joan Paredes, Javier Pérez, Gabriel Pérez-Quirós, 12 July 2015

Uncertainty about fiscal policies can be damaging for economic performance, as it affects decisions about consumption, investment, and savings. This column argues that it is possible to reduce such uncertainty. Even if governments’ fiscal plans turn out to be (purposely) wrong ex post, they can convey useful information. It is just a matter of using the appropriate learning device whereby government promises are confronted every quarter with reality (i.e. what the government is actually doing).

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