Dealing with inaccuracy

This chapter underscores the critical importance of addressing measurement errors in economic observations to uphold scientific integrity and foster progress. It emphasizes the need for economists to transparently report such errors from the outset of their careers and advocates for non-technical tools to enhance communication, including precise language and detailed data collection descriptions. The chapter promotes a culture of continuous improvement and error detection through data sensitivity analysis and triangulation. It discusses efforts to address inaccuracy in economic observations, highlighting the use of visual reporting and historical examples. The chapter further explores best practices in reporting data quality, using examples from Statistics Canada, the UK Office for National Statistics, CPB Netherlands’ World Trade Monitor and the Swedish Riksbank. It emphasizes the feasibility of transparent reporting on measurement error and calls for standardized practices. Lastly, the chapter stresses the importance of triangulation in research and considering multiple sources and methods for robust findings. It advocates for replication, structured reviews and meta-analyses as tools for evaluating literature and providing insights for researchers and policymakers.