Well‐being during the Great Recession: new evidence from a measure of multi‐dimensional living standards with heterogeneous preferences*
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- ISIDORE Id: 10670/1.9190a2...
- halshs: halshs-03907676
- doi: 10.1111/sjoe.12461
- WOS: 000730320400001
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info:eu-repo/semantics/altIdentifier/doi/10.1111/sjoe.12461
info:eu-repo/semantics/OpenAccess
Mots-clés
Beyond GDP Measurement Shadow prices Value of statistical life Welfare Well-being Living standards Indicator Beyond GDP I - Health, Education, and Welfare/I.I3 - Welfare, Well-Being, and Poverty/I.I3.I31 - General Welfare, Well-Being I - Health, Education, and Welfare/I.I3 - Welfare, Well-Being, and Poverty/I.I3.I32 - Measurement and Analysis of Poverty J - Labor and Demographic Economics/J.J1 - Demographic Economics/J.J1.J17 - Value of Life • Forgone Income J - Labor and Demographic Economics/J.J1 - Demographic Economics/J.J1.J18 - Public Policy I - Health, Education, and Welfare/I.I3 - Welfare, Well-Being, and Poverty/I.I3.I38 - Government Policy • Provision and Effects of Welfare Programs I - Health, Education, and Welfare/I.I1 - Health/I.I1.I18 - Government Policy • Regulation • Public HealthSujets proches
Welfare (Personal well-being) WellbeingCiter ce document
Romina Boarini et al., « Well‐being during the Great Recession: new evidence from a measure of multi‐dimensional living standards with heterogeneous preferences* », HAL SHS (Sciences de l’Homme et de la Société), ID : 10.1111/sjoe.12461
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Résumé
We develop a distribution-adjusted welfare measure that aggregates income, unemployment, and longevity using individual weights that reflect heterogeneous preferences. The measure is implemented for 28 OECD countries for 2008–2013 to gauge the welfare effects of the Great Recession. Estimated shadow prices of one percentage point of unemployment and one year of longevity average 3.1 percent and 5.7 percent of household income, respectively. We find that the rate of GDP growth poorly reflects the social cost of the Great Recession. On average, GDP per capita stagnated across OECD countries between 2008 and 2013 while living standards of poor households fell by 5.3 percent annually.
