ESCoE Event: Progress in Economic Measurement

Monday 3 July 2017

GDP was originally intended as a measure of production, but is often misused as a proxy for welfare. At the second session of the Measurement in the Modern Economy series, hosted by the Economic Statistics Centre of Excellence (ESCoE), Professor Dale Jorgenson will review recent advances in the measurement of production and welfare. Rachel Soloveichik of the U.S. Bureau of Economic Analysis will discuss how our view of economic growth might change when GDP is expanded to include free goods and services.

This event will take place at the National Institute of Economic and Social Research (NIESR), 2 Dean Trench Street, Smith Square, London, SW1P 3HE.

The proceedings will be as follows:

16:00  Registration
16:30  Introductions by Professor Mary O’Mahony, King’s College London
16:35  Presentations

  • Bartering for “Free” Information: Implications for GDP and Productivity, by Rachel Soloveichik, U.S. Bureau of Economic Analysis ( Presentation, slides )
  • Production and Welfare: Progress in Economic Measurement, by Professor Dale Jorgenson, Harvard University (Presentation, slides )

17:35  Discussion
18:15  Refreshments

This event is by invitation only.  For more information, please email 

Monday, July 03, 2017