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A Comparison of Inequality and Living Standards in Canada and the United States Using an Extended Income Measure

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  • Edward N Wolff

    (Department of Economics, New York University, 19 West 4th Street, 6th floor, New York, NY 10012, USA.
    The Levy Economics Institute of Bard College, P.O. Box 5000, Annandale-on-Hudson, NY 12504, USA.)

  • Ajit Zacharias

    (The Levy Economics Institute of Bard College, P.O. Box 5000, Annandale-on-Hudson, NY 12504, USA.)

  • Thomas Masterson

    (The Levy Economics Institute of Bard College, P.O. Box 5000, Annandale-on-Hudson, NY 12504, USA.)

  • Selcuk Eren

    (The Levy Economics Institute of Bard College, P.O. Box 5000, Annandale-on-Hudson, NY 12504, USA.)

  • Andrew Sharpe

    (Center for the Study of Living Standards, 151 Slater Street, Suite 710, Ottawa, Ontario, Canada K1P 5H3.)

Abstract

We use the Levy Institute Measure of Economic Well-Being (LIMEW) to compare living standards and inequality in Canada and the United States. LIMEW includes non-cash government transfers, public consumption, annuitized wealth, and household production and nets out all personal taxes. We compare our results to the standard US Census measure, gross money income (MI). We expected a smaller inter-country gap in median LIMEW than median MI and relatively lower LIMEW inequality in Canada because of the more extensive Canadian welfare state. Instead, we found that the measured gap in the level and inequality of economic well-being was higher based on LIMEW than MI.

Suggested Citation

  • Edward N Wolff & Ajit Zacharias & Thomas Masterson & Selcuk Eren & Andrew Sharpe, 2016. "A Comparison of Inequality and Living Standards in Canada and the United States Using an Extended Income Measure," Eastern Economic Journal, Palgrave Macmillan;Eastern Economic Association, vol. 42(2), pages 171-192, March.
    • Handle: RePEc:pal:easeco:v:42:y:2016:i:2:p:171-192
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