Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/100465
Authors: 
Maschke, Philip
Döpke, Jörg
Year of Publication: 
2014
Series/Report no.: 
Beiträge zur Jahrestagung des Vereins für Socialpolitik 2014: Evidenzbasierte Wirtschaftspolitik - Session: Welfare Economics F07-V1
Abstract: 
We discuss properties of alternatives or complements to GDP as a measure of welfare at business cycle frequencies. We argue that these figures are not useful to measure the welfare costs of business cycles. First, data is not available at an appropriate quality and frequency. Second, since the suggested time series sometimes correlate negatively with each other composite indices will lead by construction to very low welfare costs of business cycles. 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.
JEL: 
D60
E32
I31
Document Type: 
Conference Paper

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