An index of macroeconomic performance

Mark Setterfield

International Review of Applied Economics, 2009, vol. 23, issue 5, 625-649

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 (search for similar items in EconPapers)
Date: 2009
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DOI: 10.1080/02692170903007680

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