Data Science

What big data can tell us about the cost of living

A Businesswoman is silhouetted as she makes her way under the Arche de la Defense, in the financial district west of Paris, November 20, 2012. France said its economy was sound and reforms were on track after credit ratings agency Moody's stripped it of the prized triple-A badge due to an uncertain fiscal and economic outlook. Monday's downgrade, which follows a cut by Standard & Poor's in January, was expected but is a blow to Socialist President Francois Hollande as he tries to fix France's finances and revive the euro zone's second largest economy.

The precision of the data impels us to be precise about the theoretical assumptions. Image: REUTERS/Christian Hartmann

David E. Weinstein
Professor, Center for Japanese Economy and Business
Stephen Redding
Harold T. Shapiro Professor in Economics, Economics Department and Woodrow Wilson School, Princeton University
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 Changes in cost of living for various indexes
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