New economy, one way or the other

DANIEL.DAVIES at flemings.com DANIEL.DAVIES at flemings.com
Fri Mar 3 09:48:42 PST 2000


Heh, heh, heh.

They do this with the wages figures, too, every March/April when my bonus puts a small blip in the general trend. The UK CSO had to withdraw the earnings series completely in 1997(?8) because the adjustment didn't work and the BoE ended up making an entirely unjustified interest rate rise based on it. Egg on faces all round, etc. If I recall correctly, earnings numbers in the UK are currently smoothed using a Kalman filter. Yep, the thing in your short wave radio. Central banking rocks.

dd

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To: lbo-talk <lbo-talk at lists.panix.com> cc: (bcc: DANIEL DAVIES) bcc: DANIEL DAVIES Subject: New economy, one way or the other

Cool! There's no inflation! And if anything goes up then we call it a "sharp movement" and it doesn't count.

http://nypostonline.com/business/25545.htm

Doug, are things really *this* bad at the BLS? This Crudele guy tends to exaggerate;is it true that without those "ex-anything that goes up" adjustments inflation would have been an annualized 12% last month?

-- Enrique Diaz-Alvarez Office # (607) 255 5034 Electrical Engineering Home # (607) 272 4808 112 Phillips Hall Fax # (607) 255 4565 Cornell University mailto:enrique at ee.cornell.edu Ithaca, NY 14853 http://peta.ee.cornell.edu/~enrique

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