Statistical tools are broken when it comes to COVID-19 recession, says Wolfers

October 27, 2020 New York Times

“Statistics that we are used to using for small and slow movements are basically broken when it comes to looking at large and rapid movements,” said Wolfers. “Typically a recession plays out over many quarters. This one played out over many weeks. So looking at the data through the lens of quarterly data misses all the action.”

Read the full article in the New York Times here