Since income is the return on wealth, the total wealth of any given country should be on the order of 20 times its GDP. Instead the average observed ratio from the balance sheet accounts of the System of National Accounts (SNA) is a factor of 2.6 to 6.6, depending on whether natural resource...

The link between human capital and economic growth still remains unexplained because of the measurement issues connected to the human capital stock. This study investigates the link between human capital stock and economic growth using inclusive wealth index and ratio of engage d to actively...

This paper quantifies the impact of borrowing constraints on consumption and earnings inequality in a life-cycle model with labor market search and endogenous human capital accumulation. I first show that following an unemployment spell, likely-constrained workers in the Survey of Income and...

The link between human capital and economic growth still remains unexplained because of the measurement issues connected to the human capital stock. This study investigates the link between human capital stock and economic growth using inclusive wealth index and ratio of engaged to actively...

This paper develops an Index of Economic Well-being (IEWB) for the United States, the United Kingdom, Canada, Australia, Germany, Norway and Sweden for the period 1980 to 2001 which recognizes four components: Current effective per capita consumption flows; Net societal accumulation of stocks of...

In this chapter, Lars Osberg and Andrew Sharpe provide an overview of trends in a number of dimensions of economic well-being (consumption flows, stocks of wealth, income equality, and economic security) from the lens of the Index of Economic Well-being, a new composite measure of economic...

The value of human capital wealth and its return process are important to quantify in order to study consumption behavior and portfolio allocation. This paper introduces a new approach to measure the value of an economy's total human capital wealth. By assuming that the consumption to wealth...