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New Estimates of the Index of Economic Well-being for Canada and the Provinces, 1981 - 2008

Author

Listed:
  • Andrew Sharpe
  • Lars Osberg

Abstract

This 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 Canada and the provinces for the 1981-2008 period. It finds that the IEWB advanced at a 1.20 per cent average annual growth rate over the period, below the 1.58 per cent growth for GDP per capita. Both the consumption and wealth domains experienced solid advances over the period, but these developments were offset by declines in the equality and economic security domains. The IEWB addresses most of the recommendations of the recently released Commission for the Measurement of Economic Performance and Social Progress (the Stiglitz report) on what aspects of economic reality an index of economic well-being should capture.

Suggested Citation

  • Andrew Sharpe & Lars Osberg, 2009. "New Estimates of the Index of Economic Well-being for Canada and the Provinces, 1981 - 2008," CSLS Research Reports 2009-10, Centre for the Study of Living Standards.
    • Handle: RePEc:sls:resrep:0910
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    File URL: http://www.csls.ca/reports/csls2009-10.pdf
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    Citations

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    Cited by:

    1. Rohde, Nicholas & Tang, K.K. & Osberg, Lars & Rao, Prasada, 2016. "The effect of economic insecurity on mental health: Recent evidence from Australian panel data," Social Science & Medicine, Elsevier, vol. 151(C), pages 250-258.
    2. Lars Osberg & Andrew Sharpe, 2011. "Beyond GDP: Measuring Economic Well-Being in Canada and the Provinces, 1981-2010," CSLS Research Reports 2011-11, Centre for the Study of Living Standards.
    3. Mariña Fernández Salgado & Francesco Figari & Holly Sutherland & Alberto Tumino, 2014. "Welfare Compensation for Unemployment in the Great Recession," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 60(S1), pages 177-204, May.
    4. Lars Osberg, 2009. "Measuring Economic Security in Insecure Times: New Perspectives, New Events, and the Index of Economic Well-being," CSLS Research Reports 2009-12, Centre for the Study of Living Standards.
    5. Jelena Stankevičiene & Tatjana Sviderske & Algita Miečinskiene, 2013. "Relationship between Economic Security and Country Risk Indicators in EU Baltic Sea Region Countries," Entrepreneurial Business and Economics Review, Centre for Strategic and International Entrepreneurship at the Cracow University of Economics., vol. 1(3), pages 21-33.
    6. Nicholas Rohde & Kam Ki Tang & D.S. Prasada Rao, 2014. "Distributional Characteristics of Income Insecurity in the U.S., Germany, and Britain," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 60(S1), pages 159-176, May.
    7. Alexander Murray & Andrew Sharpe, 2011. "Human Capital and Productivity in British Columbia," CSLS Research Reports 2011-10, Centre for the Study of Living Standards.
    8. Andrew Sharpe & Brendon Andrews, 2012. "An Assessment of Weighting Methodologies for Composite Indicators: The case of the Index of Economic Well-being," CSLS Research Reports 2012-10, Centre for the Study of Living Standards.
    9. Richard Beard, 2017. "The Inclusion Of Natural Resource Wealth In The Index Of Economic Well-Being: Results For OECD Countries, 1980-2013," CSLS Research Reports 2017-04, Centre for the Study of Living Standards.
    10. Andrew Sharpe & Alexander Murray & Benjamin Evans & Elspeth Hazell, 2011. "The Levy Institute Measure of Economic Well-Being: Estimates for Canada, 1999 and 2005," CSLS Research Reports 2011-09, Centre for the Study of Living Standards.
    11. Lars Osberg & Andrew Sharpe, 2010. "The Index of Economic Well-Being," Challenge, Taylor & Francis Journals, vol. 53(4), pages 25-42.
    12. Kong, Nancy & Osberg, Lars & Zhou, Weina, 2019. "The shattered “Iron Rice Bowl”: Intergenerational effects of Chinese State-Owned Enterprise reform," Journal of Health Economics, Elsevier, vol. 67(C).
    13. Ahmad Jafari Samimi, 2011. "GDP and Economic Well-being: New Evidence from Selected Developed Countries," Information Management and Business Review, AMH International, vol. 3(2), pages 63-67.
    14. Nicholas Rohde & Kam Ki Tang & Prasada Rao, 2011. "Income volatility and insecurity in the U.S., Germany and Britain," Discussion Papers Series 434, School of Economics, University of Queensland, Australia.
    15. Brendon Andrews, 2015. "Sensitivity of the Index of Economic Well-Being to Different Measures of Poverty: LICO vs LIM," CSLS Research Reports 2015-10, Centre for the Study of Living Standards.
    16. Lars Osberg & Andrew Sharpe, 2011. "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," CSLS Research Reports 2011-12, Centre for the Study of Living Standards.

    More about this item

    Keywords

    Living standards; quality of life; income; housing affordability; wealth; inequality; poverty; productivity; employment quality; net worth; income; disposable income; low income; labour market; economic security; employment; unemployment; Canada;
    All these keywords.

    JEL classification:

    • D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
    • D60 - Microeconomics - - Welfare Economics - - - General
    • D30 - Microeconomics - - Distribution - - - General
    • H50 - Public Economics - - National Government Expenditures and Related Policies - - - General
    • J30 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - General
    • R20 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - General

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