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The Index of Economic Well-being for Newfoundland and Labrador, 1981-2018

Author

Listed:
  • Kimberly Wong
  • Alex Stephens
  • Andrew Sharpe

Abstract

This report presents estimates of the Index of Economic Well-being (IEWB) and its four domains (consumption flows, stocks of wealth, economic equality and economic security) for Newfoundland and Labrador from 1981 to 2018. We find that the IEWB for Newfoundland and Labrador increased at an average annual rate of 1.75 per cent per year over the period. All four domains grew between 1981 and 2018, with the strongest growth in consumption and wealth. However, at the end of the period between 2014 and 2018, the IEWB along with the four domains deteriorated. Nevertheless, Newfoundland and Labrador enjoyed significant improvement between 1981 and 2018, especially compared to the other provinces. Newfoundland and Labrador achieved the fourth highest IEWB level of the ten provinces in 2018 and, most impressively, the highest growth between 1981 and 2018.

Suggested Citation

  • Kimberly Wong & Alex Stephens & Andrew Sharpe, 2020. "The Index of Economic Well-being for Newfoundland and Labrador, 1981-2018," CSLS Research Reports 2020-05, Centre for the Study of Living Standards.
    • Handle: RePEc:sls:resrep:1911
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    File URL: http://www.csls.ca/reports/csls2020-05.pdf
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    References listed on IDEAS

    as
    1. 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.
    2. Kimberly Wong, 2020. "A Review of the Literature on Regrettable Expenditures and Implications for the Index of Economic Well-being," CSLS Research Reports 2020-04, Centre for the Study of Living Standards.
    3. Matthew Calver, 2016. "Measuring the Appropriate Outcomes for Better Decision-Making: A Framework to Guide the Analysis of Health Policy," CSLS Research Reports 2016-03, Centre for the Study of Living Standards.
    4. 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.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Newfoundland and Labrador; Index of Economic Well-being; Living Standards; Wealth; Consumption; Canada;
    All these keywords.

    JEL classification:

    • D10 - Microeconomics - - Household Behavior - - - General
    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
    • J10 - Labor and Demographic Economics - - Demographic Economics - - - General
    • J17 - Labor and Demographic Economics - - Demographic Economics - - - Value of Life; Foregone Income

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