What is the income of each sector of an economy? E.g., in the case of a country endowed with petroleum resources, what … is the income of its petroleum sector? Here we present a definition of sectoral income, which is compatible with an … important line of theoretical literature on comprehensive national accounting. We do so first by splitting national income into …

How can national income be adjusted to indicate welfare improvement if the future is uncertain? The present paper … extends the definition of national income to stochastic settings on the basis of discounted utilitarian welfare function. Real … interest rate of consumption is redefined so that real national income can be interpreted as the expected present value of real …

What is the income of each sector of an economy? E.g., in the case of a country endowed with petroleum resources, what … is the income of its petroleum sector? Here we present a definition of sectoral income, which is compatible with an … important line of theoretical literature on comprehensive national accounting. We do so first by splitting national income into …

tend to converge, and what key factors contribute to explain economic growth. This paper deals with the average income … three-equation model. Our results show, among other things, that increases in the local public expenditure and income taxe … rate have negative effects on subsequent income income growth. In addition, the results show conditional convergence, i …

to an income per capita level lower than the threshold level for the EKC, confirming the possibility of "tunnelling …