Voluntary and non-profit organisations (VNPOs) are a central element of societies across the globe. For some societies these organisations a have a long-standing history and role stretching back over two centuries - such as in the USA and the UK - whilst for other societies, they are a much more...

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...