Feb 26th at noon

Economic Measurement: Prices, Productivity, and the Unemployment Rate

Friday Virtual Seminar Series
February 26, 2021
12 noon to 1:45 pm

This seminar is free.  Pre-registration is required. Register in advance at this Zoom link. Maximum capacity is 100 participants.

This session features three research papers on economic measurement. The first paper re-estimates historical PPIs using the geometric Young formula at the elementary level and finds the overall index is lower by 0.55 percentage points per year.  The second paper introduces the production accounts used to measure U.S. agricultural productivity (1948-2017), addresses some recent major changes, discusses some findings on sources of growth, and talks about ongoing research projects that aim to further improve the quality of US agricultural productivity measures.  The third paper assembles several historical estimates of the unemployment rate and discusses the role these private-sector estimates played in the development of official unemployment and labor force statistics.

ChairSabrina Wulff Pabilonia (Bureau of Labor Statistics)

An Alternative Formula for Elementary Producer Price Indexes
Jonathan C. WeinhagenRobert S. Martin, and William M. Thompson (Bureau of Labor Statistics)

U.S. Agricultural Productivity: Measurement and Sources of Growth (1948-2017)
Sun Ling Wang, Roberto Mosheim, Richard Nehring, and Eric Njuki (USDA-ERS)

Private Sector Estimates of Unemployment Rate and the Development of the Labor Force Concept Gabriel Mathy (American University)

DiscussantsDennis Fixler (Bureau of Economic Analysis); Corby Garner (Bureau of Labor Statistics); Peter Meyer (Bureau of Labor Statistics)