An Estimated Australian Macroeconomic Misery Index

LAYTON A.P. (1992) An Estimated Australian Macroeconomic Misery Index. Economic Record, 68 2: 118-124. doi:10.1111/j.1475-4932.1992.tb01757.x


Author LAYTON A.P.
Title An Estimated Australian Macroeconomic Misery Index
Journal name Economic Record   Check publisher's open access policy
ISSN 1475-4932
Publication date 1992-01-01
Sub-type Article (original research)
DOI 10.1111/j.1475-4932.1992.tb01757.x
Open Access Status Not yet assessed
Volume 68
Issue 2
Start page 118
End page 124
Total pages 7
Subject 2002 Cultural Studies
Abstract The degree of community satisfaction with alternative macroeconomic outcomes is of considerable interest to policy makers. Ad hoc measures of community macroeconomic welfare, so‐called Misery Indexes, are commonly used as proxies of such welfare These indexes are very rudimentary and make implicit restrictive assumptions about the community's marginal rates of substitution among different macroeconomic outcomes. The current paper demonstrates a framework for statistically estimating the relative responsiveness of community welfare to such variables as unemployment, inflation, interest rates, real wages and measures of Australia's external performance. Morgan Gallup Poll data are used to proxy levels of community (dis)satisfaction. Copyright
Q-Index Code C1
Q-Index Status Provisional Code
Institutional Status Unknown

Document type: Journal Article
Sub-type: Article (original research)
Collection: Scopus Import - Archived
 
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Created: Tue, 04 Oct 2016, 13:58:22 EST by System User