Per capita GDP has limited use as a well-being indicator because it does not capture many dimensions that imply a "good life," such as health and equality of opportunity. However, per capita GDP has the virtues of easy interpretation and can be calculated with manageable data requirements....

The hypothesis tested in this paper is whether the increasing inequality in recent years has had a significant impact on well-being among the population in Denmark. After a survey of the literature we use attitude variables from the European Social Survey in a pseudo-panel setting covering the...

Inequality measures are powerful tools of applied welfare analysis. However, to use the tools effectively one has to take into account the characteristics of the data with which one usually has to work. These raise a number of common statistical problems which are addressed here for both...

This paper studies the heterogeneity of the marginal propensity to consume out of wealth based on French household surveys. This heterogeneity is driven by differences in both wealth composition and wealth levels. We find a decreasing marginal propensity to consume out of wealth across the...

In this paper, we differentiate consumption from expenditure by incorporating price search decision into an otherwise standard life-cycle model. In our model, households can pay lower prices for the same consumption good if they allocate more time for price search. We first analytically show...

This paper presents new evidence on the relationship between education and income inequality by drawing evidence from 145 countries between 1996 to 2016. Reviewing the economic theories of Simon Kuznets on income inequality and the arguments of Theodore Schultz on the economic value of...

Using a MIMIC model with structural equations and two synthetic health scores, this study attempts to explore the impact of the measurement of health status on socioeconomic inequalities in health. The results showed satisfactory internal consistency for both summary measures that are the...

This paper aims at establishing a clear link between different types of inequality and life satisfaction in Europe. Indices of income inequality and of inequality of opportunity are proposed to identify the relationship with life satisfaction using six waves of the European Social Survey (ESS)....