Definitions for "misery index"
An index combining the unemployment rate and inflation rate. The index is used...
An index that sums the unemployment and inflation rates, used as a political rating or measure of consumer confidence.
This is an additive index such as that of the Teamsters Union: MI = P + U + I, where is the prime rate of interest that banks charge their most creditworthy customers, is the percentage unemployed, and is the inflation rate. The index reached 36.87 in 1981, when the Teamsters opposed Jimmy Carter's reelection.
Keywords:
monetarist, modeling
modeling monetarist