Comparison Of G-7 Countries' Macroeconomic Performance with SD and MABAC Methods

Abstract

Countries determine their economic policies according to macroeconomic performance criteria. Macroeconomic performance criteria provide basic information on the level of development of countries. A reduction in unemployment, price stability and a balanced budget are important for achieving economic growth and competitiveness. The aim of this study is to analyse the macroeconomic performance of the G7 (Germany, the United States, the United Kingdom, Italy, France, Japan and Canada), a union of the seven countries with the highest level of development in the world, between 2018 and 2022. . In the study, macroeconomic criteria (unemployment, inflation, external balance, and growth), which are called "magic diamonds" by OECD (Organization for Economic Cooperation and Development), were applied using SD (Standard Deviation) and MABAC (Multi-Attributive Border Approximation Area Comparison) methods. According to the results of the SD method, the inflation criterion has the greatest impact on macroeconomic performance in 2018 and 2019, the unemployment criterion in 2020 and 2022, and the growth criterion in 2021. According to the results of the MABAC method, Germany had the highest macroeconomic performance in 2020, and Japan had the highest macroeconomic performance in the other analyzed years.