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A Tepid Recovery: The Index of Economic Well-Being for Canada and the Provinces, 1981-2014

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  • Jasmin Thomas
  • James Uguccioni

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 1981-2014 period. We find that the IEWB grew at an average annual rate of 0.74 per cent per year over the period, notably below the 1.30 per cent growth of GDP per capita over the same time frame. Both the consumption and wealth domains steady advanced over the period, but their growth was offset by declines in the equality and economic security domains. Since 2008, reflecting the 2009 recession and the weak recovery, Canada’s IEWB has exhibited meager growth, advancing only 0.09 per cent per year. This reflects declines in all domains of the IEWB except consumption. Six of the ten provinces had lower levels for their respective IEWBs in 2014 than in 2008 (Newfoundland and Labrador, Prince Edward Island, Ontario, Saskatchewan, Alberta, and British Columbia).

Suggested Citation

  • Jasmin Thomas & James Uguccioni, 2016. "A Tepid Recovery: The Index of Economic Well-Being for Canada and the Provinces, 1981-2014," CSLS Research Reports 2016-05, Centre for the Study of Living Standards.
    • Handle: RePEc:sls:resrep:1605
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    File URL: http://www.csls.ca/reports/csls2016-05.pdf
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    References listed on IDEAS

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    1. Tol, Richard S. J., 2008. "The Social Cost of Carbon: Trends, Outliers and Catastrophes," Economics - The Open-Access, Open-Assessment E-Journal (2007-2020), Kiel Institute for the World Economy (IfW Kiel), vol. 2, pages 1-22.
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    3. 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.
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    5. 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.
    6. Lars Osberg & Andrew Sharpe, 2005. "How Should We Measure The “Economic” Aspects Of Well‐Being?," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 51(2), pages 311-336, June.
    7. Lars Osberg & Andrew Sharpe, 2001. "Trends in Economic Well-being in Canada in the 1990s," The Review of Economic Performance and Social Progress, in: Andrew Sharpe, Executive Director & France St-Hilaire, Vice-President , Research & Keith Banting, Di (ed.), The Review of Economic Performance and Social Progress 2001: The Longest Decade: Canada in the 1990s, volume 1, Centre for the Study of Living Standards;The Institutute for Research on Public Policy.
    8. 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.
    9. Jasmin Thomas & James Uguccioni, 2016. "Equality and Economic Security Take a Hit: The Index of Economic Well-Being for Selected OECD Countries, 1980-2014," CSLS Research Reports 2016-06, Centre for the Study of Living Standards.
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    Cited by:

    1. James Uguccioni, Andrew Sharpe and Alexander Murray, 2016. "Labour Productivity and the Distribution of Real Earnings in Canada, 1976 to 2014," CSLS Research Reports 2016-15, Centre for the Study of Living Standards.
    2. Jasmin Thomas & James Uguccioni, 2016. "Equality and Economic Security Take a Hit: The Index of Economic Well-Being for Selected OECD Countries, 1980-2014," CSLS Research Reports 2016-06, Centre for the Study of Living Standards.
    3. 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.

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    More about this item

    Keywords

    Well-Being; Wealth; Consumption; Equality; Economic Security; Canada; Provinces;
    All these keywords.

    JEL classification:

    • I31 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General Welfare, Well-Being
    • I32 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Measurement and Analysis of Poverty
    • C43 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Index Numbers and Aggregation
    • D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
    • N32 - Economic History - - Labor and Consumers, Demography, Education, Health, Welfare, Income, Wealth, Religion, and Philanthropy - - - U.S.; Canada: 1913-

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