The Economic Performance Index is one only patented indicator in the world (to our knowledge) that was published as a Working Paper at the International Monetary Fund (IMF).
Title: System, method and indicator for assessing the economic performance of a country
A system includes a computer and an attached database. The database stores inflation, unemployment, budget deficit, and gross domestic product (GDP) data for a variety of time periods for at least one country. The computer determines standard deviations, over a first time period, of an unemployment rate, a ratio of budget deficit to GDP, a GDP rate, and absolute value of an inflation rate. The computer also determines weights for each of the unemployment rate, the ratio of budget deficit to GDP, the GDP rate, and the absolute value of the inflation rate according to the ratio of the average of the standard deviations to the unemployment rate, the ratio of budget deficit to GDP, the GDP rate, and the absolute value of the inflation rate. The computer determines an economic health score for at least a second time period, the second time period being shorter than the first time period. The score is determined by subtracting an unemployment rate, a ratio of budget deficit to GDP, and the absolute value of an inflation rate, each weighted according to their respective determined weights, from a predetermined constant and adding a GDP rate, weighted by the determined weight for the GDP rate.
Patent #: US008364569
Inventor: Lee, Jr.; John R. (Topanga, CA)
Applicant: Lee, Jr.; John R. (Topanga, CA)
Filed: October 14, 2010
Date of patent: Jan 29, 2013