This presentations considers the benefits and obstacles of using micro-data as a tool for macroeconomic analysis in Central Banks.
Where macroeconomic data encounters timely lags, micro data can be updated more frequently increasing the speed at which data becomes available. It can be disaggregated at a higher level, offering more depth, which allows for deeper insights.
This has positive implications for policy. Since datasets can be merged, nuances in behaviour can be monitored. There are also obstacles to implementation as there can be limits to cooperation between institutions, due to legal obstacles and/or concerns about the public’s perceptions.