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An index of macroeconomic performance

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  • Mark Setterfield

Abstract

This article develops a composite index of macroeconomic performance (IMP) and uses this index to ask: did the macroeconomic performance of the US economy improve during the 1990s relative to its own past performance; and has US macroeconomic performance been superior to that of other advanced capitalist economies during the post-war period as a whole? It is demonstrated that by studying the behaviour of an IMP, it is possible to draw conclusions about these comparative macroeconomic performance puzzles that are robust with respect to changes between multiple index weighting schemes.

Suggested Citation

  • Mark Setterfield, 2009. "An index of macroeconomic performance," International Review of Applied Economics, Taylor & Francis Journals, vol. 23(5), pages 625-649.
    • Handle: RePEc:taf:irapec:v:23:y:2009:i:5:p:625-649
    DOI: 10.1080/02692170903007680
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    References listed on IDEAS

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    1. Rafael Di Tella & Robert J. MacCulloch & Andrew J. Oswald, 2003. "The Macroeconomics of Happiness," The Review of Economics and Statistics, MIT Press, vol. 85(4), pages 809-827, November.
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    Cited by:

    1. Ivan K. Cohen & Fabrizio Ferretti & Bryan McIntosh, 2014. "Decomposing the misery index: A dynamic approach," Cogent Economics & Finance, Taylor & Francis Journals, vol. 2(1), pages 1-8, December.
    2. Sakiru Adebola Solarin & Luis A. Gil-Alana & Carmen Lafuente, 2020. "Persistence of the Misery Index in African Countries," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 147(3), pages 825-841, February.
    3. Beja, Edsel Jr., 2019. "Consumer Expectations Survey and Quarterly Social Weather Survey: Evidence of Convergent Validity and Causality," MPRA Paper 101074, University Library of Munich, Germany.
    4. Mohanty, Ranjan Kumar & Sahoo, Biresh K., 2017. "Examining the Eco-Macroeconomic Performance Index of India: A Data Envelopment Analysis Approach," Working Papers 17/202, National Institute of Public Finance and Policy.

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