Income-based measures of average well-being

Internation comparisons of average national incomes omit important information about leisure, home production, health, etc. They are also bedevilled by index number problems. This paper suggests ways of combining working hours and life-expectancy with income comparisons, and shows that the fixed-price indexes of real income, such as those in the Penn World Table, substantially understate the income gaps between the poorest and richest countries.

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Year of publication:	2004
Authors:	Dowrick, Steve
Publisher:	Helsinki : The United Nations University World Institute for Development Economics Research (UNU-WIDER)
Subject:	Lebensstandard \| Sozialprodukt \| Sozialer Indikator \| Vergleich \| Welt \| income comparisons \| well-being \| life expectancy \| exchange rate bias \| Geary-Khamis bias \| the Afriat index

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Series:	WIDER Research Paper ; 2004/24
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
ISBN:	9291906077
Other identifiers:	391508954 [GVK] hdl:10419/63467 [Handle]
Classification:	D50 - General Equilibrium and Disequilibrium. General ; I31 - General Welfare; Basic Needs; Quality of Life ; O47 - Measurement of Economic Growth; Aggregate Productivity
Source:	EconStor

Persistent link: https://www.econbiz.de/10010284742