An index of macroeconomic performance

Author: Setterfield, Mark

Source: International Review of Applied Economics, Volume 23, Number 5, September 2009 , pp. 625-649(25)

Publisher: Routledge, part of the Taylor & Francis Group

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.

Keywords: index of macroeconomic performance; comparative macroeconomic performance; US macroeconomic performance; index numbers; weighting schemes

Document Type: Research article

DOI: http://dx.doi.org/10.1080/02692170903007680

Affiliations: 1: Department of Economics, Trinity College, Hartford, USA

Publication date: 2009-09-01

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