Tumblr Icon RSS Icon

Official

By Matthew Yglesias  

"Official"

Share:

google plus icon

Pretty much everyone, including me, referred to the recession as having been “officially” called yesterday when the National Bureau of Economic Research‘s Business Cycle Dating Committee decided that the recession began in December 2007. This raises the point that despite the “national” in the name, and people’s tendency to regard NBER’s calls as “official,” it’s not actually an official outfit in the sense of being a government agency or anything. It’s a non-profit in located near a bunch of furniture stores in Cambridge. Reliance on the NBER is just a longstanding tradition, and it’s actually a slightly odd one; this seems like the kind of things one of the official government statistics agencies would do. That we don’t do it that way isn’t necessarily a huge deal, but it’s still pretty strange if you ask me.

‹ Afghan Surge Skepticism

The Team ›

By clicking and submitting a comment I acknowledge the ThinkProgress Privacy Policy and agree to the ThinkProgress Terms of Use. I understand that my comments are also being governed by Facebook, Yahoo, AOL, or Hotmail’s Terms of Use and Privacy Policies as applicable, which can be found here.