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We propose and implement a new approach that allows us to estimate income-specific changes in household welfare in contexts where well-measured prices are not available for important subsets of consumption. Using rich but widely available expenditure survey microdata, we show that we can recover...
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The rise of subjective measures of well-being represents at least two important trends in the measurement of welfare or … shift away from the measurement-theoretic (or representational) approach to measurement and toward the psychometric approach …. In this chapter, I will argue that whereas orthodox economic welfare measures are based on the measurement …
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