Macroeconomic Data

The next few chapters consider the meaning and measurement of some important macroeconomic variables.

The Role of Data

To see whether an economy faces a macroeconomic problem, you first need data.

• Data help policy makers spot the problems, if any, that need to be addressed
• Data help macroeconomists identify the theories that make correct predictions and the theories that make incorrect predictions
• Data often reveal interesting puzzles that macroeconomic theories then try to solve