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The Standard of Living in the United States

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  • Slesnick, Daniel T

Abstract

A common approach to the evaluation of the standard of living is based.on a function of real income. In the United States, this often takes the form of consumer-price-index-deflated mean household income. Material well-being is more appropriately evaluated using a consumption-based index. Using data from the Consumer Expenditure Surveys, the author finds that real mean income provides an inaccurate representation of the level and trend of the standard of living relative to real per equivalent total expenditure in the postwar United States. The differences between real income and real total expenditure per household equivalent member are found at all levels of aggregation. Copyright 1991 by The International Association for Research in Income and Wealth.

Suggested Citation

  • Slesnick, Daniel T, 1991. "The Standard of Living in the United States," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 37(4), pages 363-386, December.
  • Handle: RePEc:bla:revinw:v:37:y:1991:i:4:p:363-86
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    Cited by:

    1. Ruiz-Castillo, Javier, 2005. "Relative and absolute poverty : the case of México, 1992-2004," UC3M Working papers. Economics we061103, Universidad Carlos III de Madrid. Departamento de Economía.
    2. Ruiz-Castillo, Javier, 1998. "A Simplified Model for Social Welfare Analysis: An Application to Spain, 1973-74 to 1980-81," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 44(1), pages 123-141, March.
    3. Coral del Río & Javier Ruiz-Castillo, 2001. "TIPs for poverty analysis. The case of Spain, 1980-81 to 1990-91," Investigaciones Economicas, Fundación SEPI, vol. 25(1), pages 63-91, January.
    4. Río, Coral del & Ruiz-Castillo, Javier, 1997. "Demographic trends and living standards the case of Spain during the 1980´s," UC3M Working papers. Economics 6060, Universidad Carlos III de Madrid. Departamento de Economía.
    5. Peter Krause & Bruce Headey, 1995. "Rich and Poor: Stability or Change?: West German Income Mobility 1984-93," Discussion Papers of DIW Berlin 126, DIW Berlin, German Institute for Economic Research.
    6. Matilde Mas Ivars & Francisco José Goerlich Gisbert, 1999. "- Desigualdad Y Convergencia," Working Papers. Serie EC 1999-07, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).

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