national accounts

A Century of High Frequency UK Macroeconomic Statistics: A Data Inventory

This paper provides an inventory of the available macroeconomic statistics in the UK for the last hundred years or so.  The focus is on documenting the higher frequency (daily, monthly and quarterly) macroeconomic data that are available after the World War 1, rather than longer run annual time series which has been the focus of other collections.  It discusses some of the challenges that need to be overcome in order to create a continuous historical dataset over this period.  The inventory follows the structure of the Economic Trends Annual Supplement (ETAS) that was produced for many year

Cloud computing, cross-border data flows and new challenges for measurement in economics

When economists talk about ‘measurement’ they tend to refer to metrics that can capture changes in quantity, quality and distribution of goods and services. In this paper we argue that the digital transformation of the economy, particularly the rise of cloud computing as a general-purpose technology, can pose serious challenges to traditional concepts and practices of economic measurement. In the first part we show how quality-adjusted prices of cloud services have been falling rapidly over the past decade, which is currently not captured by the deflators used in official statistics.

Monthly and quarterly GDP estimates for interwar Britain

We derive monthly and quarterly series of UK GDP for the inter-war period from a set of indicators that were constructed at the time. We proceed to illustrate how the new data can contribute to our understanding of the economic history of the UK in the 1930s and have also used the series to draw comparisons between recession profiles in the 1930s and the post-war period.