Data, Data, Data:Progress and a Wish List

Jim PeachDepartment of Economics and International Business

andOffice of Policy Analysis, Arrowhead Center

New Mexico State Universityemail: jpeach@nmsu.edu

BEA: Data Delivery System: 1930s -

Real GDP Per Capita: 1929-2005Chained 2000 Dollars

0

5000

10000

15000

20000

25000

30000

35000

40000

1929 1934 1939 1944 1949 1954 1959 1964 1969 1974 1979 1984 1989 1994 1999 2004

RGDPC

7099

37241

CAGR=2.24

NIPA 1947

BEA: Advanced Data Delivery System: 1970s and 1980s

Big Iron: $2,000 per CPU Hour

BEA Data:Running at 4 mhz with 128 KB Ram

(5.25 Floppies)

BEA:Nice Improvement

Free at Last, Free at Last:No more tapes! No more JCL!!!

But it still takes me 37 seconds!

Can I download data to my IPOD?

How good is BEA?

• Just go to ….

A Wish List

• Restart the OBERS/BEA Regional Projections

Regional Input-Output Models

DAIX 1)(

RIMS III

• Downloadable for any region• Free (Greedy aren’t I?)• Improved software

Gross State Product

• Quarterly• Gross Regional Product

– MSAs

PCI Highest and Lowest MSAs

Per Capita Income as Percent of US: Yuma, AZ

50

60

70

80

90

100

1969 1971 1973 1975 1977 1979 1981 1983 1985 1987 1989 1991 1993 1995 1997 1999 2001 2003

Yuma

NAFTA IMPLEMENTATION

1993

2003

Regional Price Indices

• The ACCRA indices are useful, but …• Enough said –• Not BEA’s problem alone

NADB

• No, not the North American Development Bank

• We need a• NORTH AMERICAN DATA BANK

– NOT JUST NAICS– MISSED OPPORTUNITY IN NAFTA

NEGOTIATIONS

One Stop Shop (on-line)

• BEA, CENSUS, BLS, USITC, ….• I know, we have FedStats, but …

And,