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New Estimates of the Index of Economic Well-being for Selected OECD Countries, 1981 - 2007

Author

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  • 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 14 OECD countries for the 1980-2007 period. It finds that in 2007 Norway had the highest level of economic well-being and Spain the lowest. Canada ranked ninth among the fourteen countries. Over the 1980-2007 period Denmark enjoyed the most rapid increase in economic well-being, and the Netherlands the slowest. In all 14 countries rate of advance of the IEWB was less than that of GDP per capita. The IEWB addresses most of the recommendations of the recently released report from the 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 Selected OECD Countries, 1981 - 2007," CSLS Research Reports 2009-11, Centre for the Study of Living Standards.
  • Handle: RePEc:sls:resrep:0911
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    File URL: http://www.csls.ca/reports/csls2009-11.pdf
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    Citations

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    Cited by:

    1. 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.
    2. Walter Bossert & Conchita D'Ambrosio, 2016. "Economic insecurity and variations in resources," Working Papers 422, ECINEQ, Society for the Study of Economic Inequality.
    3. Berloffa, Gabriella & Modena, Francesca, 2012. "Economic well-being in Italy: The role of income insecurity and intergenerational inequality," Journal of Economic Behavior & Organization, Elsevier, vol. 81(3), pages 751-765.
    4. 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.
    5. Alexander Murray & Andrew Sharpe, 2011. "Human Capital and Productivity in British Columbia," CSLS Research Reports 2011-10, Centre for the Study of Living Standards.
    6. 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.
    7. Andrew Sharpe & Alexander Murray & Benjamin Evans & Elspeth Hazell, 2011. "The Levy Institute Measure of Economic Well-Being: Estimates for Canada, 1999 and 2005," Economics Working Paper Archive wp_680, Levy Economics Institute.
    8. 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.
    9. Lars Osberg & Andrew Sharpe, 2010. "The Index of Economic Well-Being," Challenge, Taylor & Francis Journals, vol. 53(4), pages 25-42.
    10. 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.
    11. 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; OECD;

    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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