The full economic effects of the COVID pandemic cannot be quantified in the state GDP estimates because the impacts are generally embedded in source data and cannot be separately identified. State personal income increased 2. The percent change in personal income across all states ranged from 6. In , personal income increased in 3, counties, decreased in 69, and was unchanged in 3. Personal income increased 6.
The full economic effects of the COVID pandemic cannot be quantified in the local area personal income estimates, because the impacts are generally embedded in source data and cannot be separately identified. State personal consumption expenditures PCE decreased 2. Home News U. Economy at a Glance U. Economy at a Glance. Perspective from the BEA Accounts BEA produces some of the most closely watched economic statistics that influence decisions of government officials, business people, and individuals.
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Consequently some journals request their authors to provide the code of computation, the version s of the dataset s and some additional information on how to obtain the dataset s. This is a percentage that is not really satisfactory. There is still room for improvements. Open formats are important for two reasons: The first is that the long-term preservation of these data is much easier, because the technical specifications of open formats are known.
A second reason is that open formats offer the possibility to use data and code in different platforms and software environments. It is useful to have the possibility to utilize the data interoperably and not only in one statistical package or on one platform. According to McCullough and Vinod the results achieved in economic research are often influenced by the statistical package that was used for calculations.
Also the operating system has a bearing on the results. Therefore both the version of the software and the OS used for calculations should be specified. Most of the data policies in our sample do not mandate their authors to provide these specifications. In sharp contrast, up to now not a single policy requires the specification of the operating system used for calculations. In the course of our study we also examined whether journals have a special section for providing the results of replication attempts.
We found out that only a very limited number of journals own a section for results of replications. In an additional online survey of the project EDaWaX 7 journals stated that they publish replication results or attempts in the journals. However the quantity of these replication attempts was low: None of the respondents published more than three replication studies per annum, most even less than one per year.
The need for a replication section mainly consists by controlling the quality of the data submitted. If a journal does not publish the results of replications authors may submit bad quality data.
In summary, it can be stated that the management of publication related research data in economics is still at its early stages. We were able to find 29 journals with data availability policies.
That is many more than other researchers found some years ago but compared to the multitude of economic journals in total the percentage of journals equipped with a data availability policy is still quite low.
The Nevertheless, editors and journals in economics seem to be in motion — the topic of data availability seems to become more and more important in economics.
This is a positive signal and it will be an interesting aspect to monitor whether and how this upward trend continues. A large portion of the analyzed data availability policies are mandatory, which is a good practice. When analysing the data authors have to provide, we noticed that almost all guidelines mandate the submission of the final dataset s , which is also quite positive.
But beyond that there is much room for improvements: Only two thirds of all policies require the submission of descriptions and of self-written software. As mentioned above, research data often is not usable, when descriptions or software components are missing.
In particular the lack of requirements to submit the code of computation is a big problem for potential replication attempts. Only a small majority of all policies pledges their authors to provide it.
Therefore it can be expected that almost half of the data availability policies in our sample is not fully enabling replications. Another important aspect is the possibility to replicate the results of economic research that is based on proprietary or confidential data.
On balance, many research based on proprietary or confidential data is not replicable even in principle. Open formats are used by a small minority of journals only.
This might result in difficulties for the interoperable use of research data and the long-term preservation of these important sources of science and research. The reuse of research data is also complicated by the lack of information on which version of a software was used for calculations.
Besides up to now, no single journal requires the specification of the operating system used. But there are also good practices: Among the journals with data availability policies we noticed that the data availability policy implemented by the American Economic Review AER is a very good example of a data availability policy in economic journals.
Journals equipped with this policy are the biggest single group of guidelines in our sample.
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