Big data in monetary policy analysis- a critical assessment

• Authors: Alexandra Bogner , Jürgen Jerger

Abstracts

EN

Over the last years the use of big data became increasingly relevant also for macroeconomic topics and specicfially the conduct and analysis of monetary policy. The aim of this paper is to provide a survey of these applications and the rel evant methods. The rationale for doing so is twofold. First, there is no straighotfrward definition of “big data”. Since macroeconomics and monetary policy analysis has a long tradition in quite sophisticated and data-intensive empiri cal applications the nature of the innovation big data is in deed bringing to the field is reflected upon. Second, con cerning statistical / empirical methods the analysis of big data necessitates the use of diefrent tools relative to tra ditional empirical macroeconomics which are in some cas es a complement to more traditional methods. Hence big data in monetary policy is not just the application of wellestablished methods to larger data sets.

• Publisher: Uniwersytet Ekonomiczny w Poznaniu
• Journal: Economics and Business Review
• Year: 2023
• Volume: 9
• Issue: 2
• Pages: 27-40

Dates

published

2023

Contributors

author

Alexandra Bogner

author

Jürgen Jerger

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Identifiers

DOI

10.18559/ebr.2023.2.733

Biblioteka Nauki

2231664