Year: 2015
Author: Döpke, Jörg, Maschke, Philip
Applied Economics Quarterly, Vol. 61 (2015), Iss. 2 : pp. 115–139
Abstract
We discuss properties of alternatives or complements to GDP as a measure of welfare at business cycle frequencies. Our results imply that the suggested indicators show practically no cycle at all and their methodologies can be questioned. First, data are not available at an appropriate quality and frequency. Second, the suggested time series sometimes correlate negatively with each other. Third, cross-section and quasi-panel evidence based on different samples of countries reveals no impact of the stance of the business cycle on some suggested welfare measures. Therefore, alternative welfare measures do not show an equal picture on business cycle frequencies compared to GDP-based measures.
JEL Classification: D6, E01, E32, I31
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Journal Article Details
Publisher Name: Global Science Press
Language: English
DOI: https://doi.org/10.3790/aeq.61.2.115
Applied Economics Quarterly, Vol. 61 (2015), Iss. 2 : pp. 115–139
Published online: 2015-06
AMS Subject Headings: Duncker & Humblot
Copyright: COPYRIGHT: © Global Science Press
Pages: 25