Measuring Quarterly Economic Growth from Outer Space

Released on by Robert C. M. Beyer
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  • Measuring Quarterly Economic Growth from Outer Space Book Detail

  • Author : Robert C. M. Beyer
  • Release Date : 2022-06-03
  • Publisher : International Monetary Fund
  • Genre : Business & Economics
  • Pages : 45
  • ISBN 13 :
  • File Size : 99,99 MB
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Measuring Quarterly Economic Growth from Outer Space by Robert C. M. Beyer PDF Summary

Book Description: This paper presents a novel framework to estimate the elasticity between nighttime lights and quarterly economic activity. The relationship is identified by accounting for varying degrees of measurement errors in nighttime light data across countries. The estimated elasticity is 1.55 for emerging markets and developing economies, ranging from 1.36 to 1.81 across country groups and robust to different model specifications. The paper uses a light-adjusted measure of quarterly economic activity to show that higher levels of development, statistical capacity, and voice and accountability are associated with more precise national accounts data. The elasticity allows quantification of subnational economic impacts. During the COVID-19 pandemic, regions with higher levels of development and population density experienced larger declines in economic activity.

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Lights Out?

Lights Out?

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This paper estimates the impact of a differential relaxation of COVID-19 containment policies on aggregate economic activity in India. Following a uniform natio