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Enriching official economic statistics using data-driven modelling techniques

Netherlands Statistics (CBS), Leiden University and the University of Amsterdam have started a collaboration in the form of a research project titled 'Enriching official economic statistics using data-driven modelling techniques'.

2016 - 2020
Frank Takes
Centraal Bureau voor de Statistiek (CBS)

University of Amsterdam

The purpose of official statistics is to provide detailed and precise information, in terms of numbers, about many aspects of society. This information is then used in politics, and by policy makers in general, to govern at national and local level. Current official economic statistics can be enriched in at least three ways in order to serve this purpose more adequately. First, nowcasting techniques can be used in order to increase timeliness of official statistics. Second, viewing the economy as a network can give more insight in its underlying structure, enabling, for example, measuring the resilience of the economy. Third, the combination of different data sources may lead to more insight in local economies, serving both national and local policy makers.

This research aims to investigate data-driven modelling techniques from both computer science and econometrics in order to enrich official economic statistics in the aforementioned ways. The project team consists of PhD student Quinten Meertens (CBS), prof. dr. Cees Diks (University of Amsterdam), prof. dr. Jaap van den Herik (Leiden University) and dr. Frank Takes (University of Amsterdam & Leiden University). 

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