Moving from a GDP-Based to a Well-Being Based Metric of Economic Performance and Social Progress: Results from the Index of Economic Well-Being for OECD Countries, 1980-2009
AbstractThis report presents new estimates of the Index of Economic Well-being (IEWB) and its four domains (consumption flows, stocks of wealth, economic equality, and economic security) for 14 OECD countries for the 1980-2009 period. It finds that in 2009 Norway had the highest level of economic well-being and Spain the lowest. Canada ranked ninth among the fourteen countries. Over the 1980-2009 period Denmark enjoyed the most rapid increase in economic well-being, and the Netherlands the slowest. In all 14 countries rate of advance of the IEWB was less than that of GDP per capita. Economic well-being, therefore, has not advanced as rapidly as GDP per capita.
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Bibliographic InfoPaper provided by Centre for the Study of Living Standards in its series CSLS Research Reports with number 2011-12.
Date of creation: Sep 2011
Date of revision:
Find related papers by JEL classification:
- E01 - Macroeconomics and Monetary Economics - - General - - - Measurement and Data on National Income and Product Accounts and Wealth; Environmental Accounts
- I31 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General Welfare, Well-Being
- E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
- E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-09-16 (All new papers)
- NEP-HAP-2011-09-16 (Economics of Happiness)
- NEP-HME-2011-09-16 (Heterodox Microeconomics)
- NEP-MAC-2011-09-16 (Macroeconomics)
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