Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/171176
Authors: 
Fraumeni, Barbara M.
Year of Publication: 
2017
Citation: 
[Journal:] IZA World of Labor [ISSN:] 2054-9571 [Year:] 2017 [Issue:] 368
Abstract: 
Gross domestic product (GDP) is the key indicator of the health of an economy and can be easily compared across countries. But it has limitations. GDP tells what is going on today, but does not inform about sustainability of growth. It does not measure happiness, so residents can be dissatisfied even when GDP is rising. GDP does not consider environmental factors or reflect what individuals do outside paid employment. It might increase in times of military conflicts and after natural disasters or terrorist acts, as the loss of property is not counted. Hence, complementary measures may help to show a more comprehensive picture of an economy.
Subjects: 
GDP
macroeconomic measures
national income accounting
Persistent Identifier of the first edition: 
Document Type: 
Article

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