PFM Board
Medium Term Expenditure Framework => The Macro-fiscal analysis made simple => Topic started by: sybihida on April 24, 2014, 15:11:32 GMT
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Mark Skousen has succeeded: Starting April 25, the Bureau of Economic Analysis will release a new way to measure the economy each quarter. It's called gross output, and it's the first significant macroeconomic tool to come into regular use since gross domestic product was developed in the 1940s.
GO attempts to measure total sales from the production of raw materials through intermediate producers to final retail. Based on my research, GO is a better indicator of the business cycle, and most consistent with economic growth theory.
Is this good news for developing and LIC countries?
http://online.wsj.com/news/articles/SB10001424052702303532704579483870616640230?KEYWORDS=Mark+Skousen&mg=reno64-wsj
http://www.forbes.com/sites/realspin/2013/11/29/beyond-gdp-get-ready-for-a-new-way-to-measure-the-economy/