Ranking the Economic Freedom of North America using dominetrics
AbstractThe Economic Freedom of North America is a widely used political economy indicator related to outcomes such as entrepreneurship, equity prices, housing prices, and migration. As a result, relative rankings are often mentioned in policy discussions. The ranking of regions based on economic freedom, however, involves many layers of subjectivity. We employ a ranking methodology called ‘dominetrics' to remove one layer of subjectivity. Doing so creates six rankings reflecting different importance orderings of the underlying spheres of economic freedom. Our results show that preferences regarding which components of economic freedoms are most important influence final rankings.
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Bibliographic InfoArticle provided by AccessEcon in its journal Economics Bulletin.
Volume (Year): 32 (2012)
Issue (Month): 3 ()
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Dominetrics; Rankings; Economic Freedom;
Find related papers by JEL classification:
- H1 - Public Economics - - Structure and Scope of Government
- C6 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling
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- Nathan J. Ashby, 2007. "Economic Freedom and Migration Flows between U.S. States," Southern Economic Journal, Southern Economic Association, vol. 73(3), pages 677â697, January.
- Carrie B. Kerekes, 2011. "Government Takings: Determinants of Eminent Domain," American Law and Economics Review, Oxford University Press, vol. 13(1), pages 201-219.
- Nathan J. Ashby & Russell S. Sobel, 2006.
"Income Inequality and Economic Freedom in the U.S. States,"
06-08 Classification-, Department of Economics, West Virginia University.
- Nathan Ashby & Russell Sobel, 2008. "Income inequality and economic freedom in the U.S. states," Public Choice, Springer, vol. 134(3), pages 329-346, March.
- Joshua Hall & Robert Lawson, 2009. "Economic Freedom and Peace," Atlantic Economic Journal, International Atlantic Economic Society, vol. 37(4), pages 445-446, December.
- Russell Sobel & J. Clark & Dwight Lee, 2007. "Freedom, barriers to entry, entrepreneurship, and economic progress," The Review of Austrian Economics, Springer, vol. 20(4), pages 221-236, December.
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