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Micro Stars, Macro Effects; Economics
Oleh:
[s.n]
Jenis:
Article from Bulletin/Magazine
Dalam koleksi:
The Economist (http://search.proquest.com/) vol. 405 no. 8812 (Nov. 2012)
,
page 69-70.
Topik:
Microeconomics
;
High Tech Industries
Ketersediaan
Perpustakaan Pusat (Semanggi)
Nomor Panggil:
EE29.74
Non-tandon:
1 (dapat dipinjam: 0)
Tandon:
tidak ada
Lihat Detail Induk
Isi artikel
A small group of the world's top microeconomists are quietly revolutionising the discipline. Working for big technology firms such as Google, Microsoft and eBay, they are changing the way business decisions are made and markets work. Microeconomists have their sights on problems outside their home turf too. At the moment the policies picked by central banks and finance ministries are based on old news, since things like GDP, inflation and unemployment are measured with long lags. A team at Google headed by its chief economist, Hal Varian, is using search-engine data to provide more timely measures. Search terms like "job", "benefits" and "solitaire" are closely correlated with unemployment claims (see chart on previous page). These types of relationship help construct new indexes that offer a real-time picture of the economy. If policymakers start to use these in a systematic way, their decisions could be based on how the economy looked yesterday, rather than months ago.
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