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Global welfare comparisons

Author

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  • Geir B. Asheim

Abstract

To provide a normative foundation for transfers between different economies, one needs information on their `per capita welfare.' This paper considers various methods for doing this and reaches the following conclusions: (i) Such global welfare comparisons are more demanding than usually thought. (ii) The ranking of methods differs from that of local (over-time) comparisons, with real comprehensive per capita NNP being the least impractical method. The lesson is that global welfare comparisons should be performed with great care. The comparisons must be made in local real prices calculated according to `purchasing-power-parity,' where non-traded environmental amenities play an important role.

Suggested Citation

  • Geir B. Asheim, 2010. "Global welfare comparisons," Canadian Journal of Economics, Canadian Economics Association, vol. 43(4), pages 1412-1432, November.
  • Handle: RePEc:cje:issued:v:43:y:2010:i:4:p:1412-1432
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    Cited by:

    1. repec:ksb:journl:v:4:y:2011:i:1:p:89-103 is not listed on IDEAS
    2. Haradhan Kumar Mohajan, 2011. "The NNP and Sustainability in Open Economy: Highlights on Recent World Economy and on Open Economy of Bangladesh," KASBIT Business Journals, Khadim Ali Shah Bukhari Institute of Technology (KASBIT), vol. 4, pages 32-47, December.
    3. Nick Hanley & Louis Dupuy & Eoin McLaughlin, 2015. "Genuine Savings And Sustainability," Journal of Economic Surveys, Wiley Blackwell, vol. 29(4), pages 779-806, September.
    4. Haradhan Kumar Mohajan, 2011. "The Real Net National Product in Sustainable Development," KASBIT Business Journals, Khadim Ali Shah Bukhari Institute of Technology (KASBIT), vol. 4, pages 89-103, December.
    5. Mohajan, Haradhan, 2010. "Green net national product for the sustainability and social welfare," MPRA Paper 50840, University Library of Munich, Germany, revised 18 Feb 2011.
    6. repec:ksb:journl:v:4:y:2011:i:1:p:32-47 is not listed on IDEAS
    7. Mota, Rui Pedro & Domingos, Tiago, 2013. "Assessment of the theory of comprehensive national accounting with data for Portugal," Ecological Economics, Elsevier, vol. 95(C), pages 188-196.

    More about this item

    JEL classification:

    • D60 - Microeconomics - - Welfare Economics - - - General
    • D90 - Microeconomics - - Micro-Based Behavioral Economics - - - General
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence

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