This paper analyzes how the OECD revises potential output (PO) estimates after recessions. We show that downward revisions are substantial and mostly driven by supply shocks while PO estimates do not significantly react to demand shocks. In addition, revisions are partly caused by avoidable...

This volume was prepared by Julian Dieler while he was working with the Center for Energy, Climate and exhaustible Resources at the Ifo Institute for Economic Research. At the latest since the adoption of the Kyoto Protocol in 1997 climate policies are permanently on the international policy...

Chapter 1: Introduction -- Chapter 2: GDP Shortcomings and a Brief History of Creating General Measures of Socio-Economic Development -- Chapter 3: Conceptual and Theoretical Basis of Balanced Development Index (BDI) -- Chapter 4: To Weight or Not to Weight? -- Chapter 5: Four Domains of...