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Subjective economic welfare: Beyond growth

  • Victoria Giarrizzo

    ()

    (Facultad de Ciencias Económicas, Universidad de Buenos Aires (UBA). Ciudad de Buenos Aires, Argentina.)

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    It is common that economists are used to establish a direct relationship between growth and welfare. Nevertheless, the link among these variables not always is so virtuous. This suspicion went in the last years to investigating about the perception of people on your proper welfare. The slogan was: to know if the positive variations in the growth, the revenue or the employment generate earnings of welfare, it is necessary to consult the individuals. The subjective studies of welfare increased substantially since then, confirming the suspicions: improvements in the objective indicators of welfare not always are perceived as such by the individuals. The intention of this work will be to develop an Index of Economic Welfare that allows measure the welfare perceived by the population. The results obtained in the Argentine economy between 2005 and 2008 will be presented, and his results will be compared with the evolution of the objective indicators.

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    Article provided by Instituto de Investigaciones Económicas y Sociales (IIES). Facultad de Ciencias Económicas y Sociales. Universidad de Los Andes. Mérida, Venezuela in its journal Economía.

    Volume (Year): 34 (2009)
    Issue (Month): 28 (July-December)
    Pages: 9-34

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    Handle: RePEc:ula:econom:v:34:y:2009:i:28:p:9-34
    Contact details of provider: Postal: Facultad de Ciencias Económicas y Sociales. Instituto de Investigaciones Económicas y Sociales. Campus Universitario Liria, Edificio G, Tercer Nivel. Mérida 5101, Estado Mérida, Venezuela
    Phone: +58 74 401111 ext. 1081
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    Web page: http://iies.faces.ula.ve/
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    1. Lokshin, Michael & Ravallion, Martin, 2005. "Rich and powerful?: Subjective power and welfare in Russia," Journal of Economic Behavior & Organization, Elsevier, vol. 56(2), pages 141-172, February.
    2. Ravallion, Martin & Lokshin, Michael, 2000. "Identifying welfare effects from subjective questions," Policy Research Working Paper Series 2301, The World Bank.
    3. Bruno S. Frey & Alois Stutzer, 1999. "Measuring Preferences by Subjective Well-Being," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 155(4), pages 755-778, December.
    4. van Praag, Bernard M. S., 1991. "Ordinal and cardinal utility : An integration of the two dimensions of the welfare concept," Journal of Econometrics, Elsevier, vol. 50(1-2), pages 69-89, October.
    5. Alois Stutzer & Bruno S. Frey, 2004. "Reported Subjective Well-Being: A Challenge for Economic Theory and Economic Policy," Schmollers Jahrbuch : Journal of Applied Social Science Studies / Zeitschrift für Wirtschafts- und Sozialwissenschaften, Duncker & Humblot, Berlin, vol. 124(2), pages 191-231.
    6. Winkelmann, Rainer, 2004. "Subjective Well-Being and the Family: Results from an Ordered Probit Model with Multiple Random Effects," IZA Discussion Papers 1016, Institute for the Study of Labor (IZA).
    7. repec:dgr:uvatin:20020022 is not listed on IDEAS
    8. Shorrocks, Anthony F, 1984. "Inequality Decomposition by Population Subgroups," Econometrica, Econometric Society, vol. 52(6), pages 1369-85, November.
    9. Sen, Amartya K, 1976. "Poverty: An Ordinal Approach to Measurement," Econometrica, Econometric Society, vol. 44(2), pages 219-31, March.
    10. Shorrocks, Anthony F, 1995. "Revisiting the Sen Poverty Index," Econometrica, Econometric Society, vol. 63(5), pages 1225-30, September.
    11. Ravallion, Martin & Lokshin, Michael, 1999. "Subjective economic welfare," Policy Research Working Paper Series 2106, The World Bank.
    12. Paolo Figini, 1998. "Measuring Inequality: On the Correlation of Indices," Economics Technical Papers 987, Trinity College Dublin, Department of Economics.
    13. repec:dgr:uvatin:2002022 is not listed on IDEAS
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