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Using data envelopment analysis to assess macroeconomic policy performance

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  • Laurens Cherchye

Abstract

It is common practice to summarize the macroeconomic performance of countries in terms of the four well-known dimensions captured by the magic diamond of the OECD. This study provides a comparison of several synthetic indicators that merge the four separate indicators into one single statistic. These indicators are inspired by Data Envelopment Analysis (DEA)-based models, which allow for unequal weighting of the different economic objectives. The calculated weights then act as proxies for the true policy priorities. Comparison of the models focuses on the underlying assumptions as well as on the empirical results they generate.

Suggested Citation

  • Laurens Cherchye, 2001. "Using data envelopment analysis to assess macroeconomic policy performance," Applied Economics, Taylor & Francis Journals, vol. 33(3), pages 407-416.
    • Handle: RePEc:taf:applec:v:33:y:2001:i:3:p:407-416
    DOI: 10.1080/00036840122353
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    References listed on IDEAS

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    1. Wim Moesen & Laurens Cherchye, 1998. "The Macroeconomic Performance of Nations Measurement and Perception," Working Papers of Department of Economics, Leuven ces9822, KU Leuven, Faculty of Economics and Business (FEB), Department of Economics, Leuven.
    2. C.A. Knox Lovell & Jesús T. Pastor, 1995. "Macroeconomtc Performance Of Sixteen Ibero-American Countries Over The Period 1980-1991," Working Papers. Serie EC 1995-11, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
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