Macroeconomic Disbalances as an Object of Economic Measurement: A Critical Review of Theoretical Approaches

The article critically reviews theoretical approaches to measuring macroeconomic disbalances in post-conflict and post-crisis recovery. It aims to substantiate a multidimensional diagnostic framework rather than a single composite score. The proposed dashboard comprises inflation, the current account, unemployment, trade balance, real growth, capital formation, reserves, government consumption and cumulative devaluation. Five-year aggregation uses peak inflation, cumulative exchange-rate change and means for the remaining indicators. Ward’s cluster analysis of 50 recovery episodes illustrates differences between recovery profiles. The contribution combines indicator selection, time aggregation and multidimensional classification. The findings support comparative monitoring of Ukraine’s recovery, while annual data and moderate cluster separation limit interpretation. Benchmark profiles provide analytical reference points rather than causal evidence of policy effectiveness.