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Macroeconomics

Working Paper

The Changing Polarization of Party Ideologies: The Role of Sorting

WP 23-07 – History shows that when political parties become more polarized along one dimension of policy, they become less polarized along some other dimension. We explain how this can happen via changes in the ideological makeup of parties.

Featured Work

Macroeconomics

Article

Q&A: Leonard Nakamura on GDP and Measuring What Matters

Gross domestic product has long been a standard for measuring economic growth and progress, but is it a yardstick for well-being, and can it keep up with changes in our economy? Leonard Nakamura answers our questions.

Macroeconomics

Article

Are Traditional Measures of Economic Growth Incomplete?

Research in Focus — Amid a growing and vibrant debate about how to measure economic growth, the authors introduce an accounting framework that captures output in terms of dollars as well as societal well-being.

Macroeconomics

Article

Labor, Race, and COVID-19

Economic Insights — There have long been racial differences in how workers experience the labor market, but some interesting things happened to those differences during the pandemic.

Featured Data

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Livingston Survey

The oldest continuous survey of economists' expectations that summarizes the forecasts of economists from industry, government, banking, and academia

Updated: 16 Dec ’22

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Survey of Professional Forecasters

The oldest quarterly survey of macroeconomic forecasts in the United States

Updated: 12 May ’23

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Aruoba-Diebold-Scotti Business Conditions Index

An index designed to track real business conditions at high observation frequency

Updated: 26 May ’23

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Real-Time Data Set for Macroeconomists

The real-time data set consists of vintages, or snapshots, of time series of major macroeconomic variables. The data set may be used by macroeconomic researchers to verify empirical results, to analyze policy, or to forecast. All data are updated at the end of each month.

Updated: 26 May ’23

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GDPplus

Measure of the quarter-over-quarter rate of growth of real output in continuously compounded annualized percentage points

Updated: 25 May ’23

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Aruoba Term Structure of Inflation Expectations

A continuous curve of inflation expectations three to 120 months ahead, analogous to a yield curve

Updated: 28 Apr ’23