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Real National Income

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  • Sefton, James
  • Weale, Martin

Abstract

What do we mean by a country's real income? There are in fact two different approaches here. One, which we address here, is the question of interpreting the existing definition of income. The other is the widespread view that income ought to measure ‘sustainable consumption’. The origin of the idea that income should be a measure of sustainable consumption can be traced back to Hicks (1939).

Suggested Citation

  • Sefton, James & Weale, Martin, 1996. "Real National Income," National Institute Economic Review, National Institute of Economic and Social Research, vol. 155, pages 90-97, February.
    • Handle: RePEc:cup:nierev:v:155:y:1996:i::p:90-97_6
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    Cited by:

    1. Nicholas Oulton, 2004. "Productivity Versus Welfare; Or GDP Versus Weitzman's NDP," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 50(3), pages 329-355, September.
    2. Oulton, Nicholas, 2004. "A statistical framework for the analysis of productivity and sustainable development," LSE Research Online Documents on Economics 19963, London School of Economics and Political Science, LSE Library.
    3. Pain, Nigel & Young, Garry, 2004. "The macroeconomic impact of UK withdrawal from the EU," Economic Modelling, Elsevier, vol. 21(3), pages 387-408, May.

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