Household Wealth, Public Consumption and Economic Well-Being in the United States
AbstractStandard official measures of economic well-being are based on money income. The general consensus is that such measures are seriously flawed because they ignore several crucial determinants of well-being. We examine two such determinants--household wealth and public consumption--in the context of the United States. Our findings suggest that the level and distribution of economic well-being is substantially altered when money income is adjusted for wealth or public consumption.
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Bibliographic InfoPaper provided by Levy Economics Institute, The in its series Economics Working Paper Archive with number wp_386.
Date of creation: Sep 2003
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Web page: http://www.levyinstitute.org
Other versions of this item:
- Edward N. Wolff & Ajit Zacharias & Asena Caner, 2005. "Household wealth, public consumption and economic well-being in the United States," Cambridge Journal of Economics, Oxford University Press, vol. 29(6), pages 1073-1090, November.
- Edward N. Wolff & Ajit Zacharias & Asena Caner, 2003. "Household Wealth, Public Consumption, and Economic Well-Being in the United States," Public Economics 0309004, EconWPA.
- D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
- D6 - Microeconomics - - Welfare Economics
- H4 - Public Economics - - Publicly Provided Goods
- P16 - Economic Systems - - Capitalist Systems - - - Political Economy of Capitalism
- P17 - Economic Systems - - Capitalist Systems - - - Performance and Prospects
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- Edward N. Wolff & Ajit Zacharias, 2003. "The Levy Institute Measure of Economic Well-Being," Economics Working Paper Archive wp_372, Levy Economics Institute, The.
- Antonio Jurado & Jesus Perez-Mayo, 2012. "Construction and Evolution of a Multidimensional Well-Being Index for the Spanish Regions," Social Indicators Research, Springer, vol. 107(2), pages 259-279, June.
- Francisco Azpitarte, 2008. "The Household Wealth Distribution in Spain: The Role of Housing and Financial Wealth," Working Papers 83, ECINEQ, Society for the Study of Economic Inequality.
- Francisco Azpitarte, 2010. "The household wealth distribution in Spain: The role of housing and financial wealth," Hacienda Pública Española, IEF, vol. 194(3), pages 65-90, October.
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