Economics in the age of big data

Economics in the age of big data

By
Jonathan Levin, Liran Einav
Science . November
7, 2014, Vol. 364, Issue 6210

The quality and quantity of data on economic activity are expanding rapidly. Empirical research increasingly relies on newly available large-scale administrative data or private sector data that often is obtained through collaboration with private firms. Here we highlight some challenges in accessing and using these new data. We also discuss how new data sets may change the statistical methods used by economists and the types of questions posed in empirical research.