We discuss properties of alternatives or complements to GDP as a measure of welfare at business cycle frequencies. We argue that these figures are not useful to measure the welfare costs of business cycles. First, data is not available at an appropriate quality and frequency. Second, since the...

Previous research on the relationships between macroeconomic conditions and health status reveal improvements in physical health during economic downturns. However, few studies have examined whether mental health status improves or declines during tough economic times. This paper estimates the...