National Accounts in a World of Naturally Occurring Data: A Proof of Concept for Consumption

This paper provides a first proof of concept that naturally occurring transaction data, arising from the decentralized activity of millions of economic agents, can be harnessed to produce both traditional national accounts-like objects and novel representative economic statistics. We deploy comprehensive transaction-level data and its associated metadata arising from the universe of Spanish retail accounts of Banco Bilbao Vizcaya Argentaria (BBVA).

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