Global Macro Database

Global Macro Database

An open-source, long-horizon macroeconomic dataset covering 241+ countries, 46 variables, from 1086 to 2024 (with projections to 2030). Built from 100+ sources and designed for consistency, harmonization, and reproducible research.

Updated 2025-08-31

The Global Macro Database (GMD) is an open, harmonized, and long-horizon macroeconomic dataset designed for cross-country research, policy analysis, and historical study. It integrates data from more than 100 official, archival, and academic sources, covering 241+ countries and 46 core macro-financial variables over nearly a thousand years (1086–2024), with projections extending to 2030.

Current Status

The latest release (v2025.09) includes refined government finance data, new harmonization scripts, and updated coverage for 2023–2024. The project is ongoing, with continuous improvements in metadata, variable expansion, and historical depth. Get data direct from the official website.

Overview

GMD provides one of the most complete and consistent macroeconomic datasets available, combining historical reconstruction with modern national accounts. It is developed to help researchers, policymakers, and educators analyze global trends, crises, and structural shifts across centuries.

  • Coverage: 241+ countries and territories
  • Variables: 46 macroeconomic indicators, including GDP, inflation, consumption, investment, trade, money, credit, labor, and government finance
  • Period: 1086–2024 with forward projections to 2030
  • Sources: 100+ historical and contemporary datasets (IMF, World Bank, OECD, UN, BIS, Maddison, etc.)
  • Frequency: Annual
  • Licensing: CC BY-NC-SA 4.0 — free for research and educational use

Key Features

1. Historical Depth

GMD reconstructs centuries of economic activity by harmonizing historical yearbooks, archives, and statistical handbooks. For select regions, data extends as far back as the 11th century.

2. Harmonized Definitions

All series are standardized using a unified metadata schema, ensuring that GDP, CPI, and other indicators remain comparable across time and countries.

3. Chain-Linking & Splicing

When multiple sources overlap, GMD uses algorithmic chain-linking and source ranking methods to construct continuous, high-quality time series.

4. Version-Controlled Data

Every release is fully reproducible and documented, enabling transparent academic use and citation.

5. Cross-Platform Access

Available in CSV, Excel, and Stata (.dta) formats, with official Python, R, and Stata packages.

Applications

  • Empirical Research: Analyze long-run growth, crises, and policy effects.
  • Policy Studies: Compare national trajectories and structural trends.
  • Education: Use as a teaching dataset for macroeconomics, finance, and data science.
  • Replication & Benchmarking: Serve as a reference dataset for historical validation and modeling.

Citation

@techreport{NBERw33714,
  title       = {The Global Macro Database: A New International Macroeconomic Dataset},
  author      = {Müller, Karsten and Xu, Chenzi and Lehbib, Mohamed and Chen, Ziliang},
  institution = {National Bureau of Economic Research},
  type        = {Working Paper},
  series      = {Working Paper Series},
  number      = {33714},
  year        = {2025},
  month       = {April},
  doi         = {10.3386/w33714},
  URL         = {http://www.nber.org/papers/w33714}
}