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Advances in Economic Measurement
Economic Measurement, the theme for the set of papers published in
this Volume, is of critical importance in a world where policymakers,
businesses and individuals are increasingly reliant on evidence-based
decision-making. Economic statistics such as the consumer price index
(CPI), gross domestic product (GDP), per capita income and growth
rates are used by the general public, as well as analysts and policymakers
at the central banks setting and evaluating monetary policy. Theoret-
ical and applied econometric techniques developed over the last century
underscore the role of modern economic measurement for policymaking
in complex settings, and in evaluating the effectiveness of policy inter-
ventions for improving health and educational outcomes in developing
countries.
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