This paper shows that the Bennet-Bowley profit indicator is an exact and superlative approximation of the additively complete Luenberger-Hicks-Moorsteen productivity indicator when the input and output directional distance functions can be represented up to the second order by a quadratic...

I construct a daily business cycle index based on quarterly GDP and textual information contained in a daily business newspaper. The newspaper data are decomposed into time series representing newspaper topics using a Latent Dirichlet Allocation model. The business cycle index is estimated using...

Corruption is an intrinsically latent phenomenon, which makes it a challenging task to measure it and requires the use of indirect indicators. The academic community and non-government organizations have proposed various indices that differ in terms of their methodology, data and coverage. In...

This report presents an overview of the Survey of Consumer Expectations, a new monthly online survey of a rotating panel of household heads. The survey collects timely information on consumers' expectations and decisions on a broad variety of topics, including but not limited to inflation,...

We propose a new measure for housing sentiment and show that it accurately tracks expectations about future house price growth rates. We construct the housing sentiment index using partial least squares on household survey responses to questions about buying conditions for houses. We find that...

This study proposes indexing strategies representative of the equity market and based on readily available accounting information. In contrast to the previous literature, we discard balance sheet variables and instead develop two indices that revolve solely around income statement and dividend...

In modelling macroeconomic time series, often a monthly indicator of global real economic activity is used. We propose a new indicator, named World steel production, and compare it to other existing indicators, precisely the Kilian's index of global real economic activity and the index of OECD...

This study sheds light on the entanglement of index weighting schemes. We show that a high degree of absolute holdings overlap is not a sufficient measure of the level of conformity with a benchmark. Secondly, we take a closer look at portfolio concentration and market contagion, and monitor a...

Price indices based on repeat sales are the most widely used type of real estate index based on asset transaction prices. But such indices are particularly prone to revision. When a new period of transaction data becomes available and is used to update the repeat sales model, all past index...

This paper explores the Social Progress Index (SPI) developed by Michael Green and extends the concept by developing the Index for the state of Tamil Nadu. The Social Progress Index is supposed to be a robust and holistic measurement framework for social and environmental performance of a...