Income-based Measures of Average Well-being
Published By: UNU-WIDER on eSS | Published Date: March, 17 , 2004International 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. [Research Paper No. 2004/24]
Author(s): Steve Dowrick | Posted on: Jan 17, 2011 | Views(731) | Download (78)