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Project Citation: 

Jones, Charles I., and Klenow, Peter J. Replication data for: Beyond GDP? Welfare across Countries and Time. Nashville, TN: American Economic Association [publisher], 2016. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-11.

Project Description

Summary:  View help for Summary We propose a summary statistic for the economic well-being of people in a country. Our measure incorporates consumption, leisure, mortality, and inequality, first for a narrow set of countries using detailed micro data, and then more broadly using multi-country datasets. While welfare is highly correlated with GDP per capita, deviations are often large. Western Europe looks considerably closer to the United States, emerging Asia has not caught up as much, and many developing countries are further behind. Each component we introduce plays a significant role in accounting for these differences, with mortality being most important.

Scope of Project

JEL Classification:  View help for JEL Classification
      D63 Equity, Justice, Inequality, and Other Normative Criteria and Measurement
      E21 Macroeconomics: Consumption; Saving; Wealth
      E23 Macroeconomics: Production
      E24 Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
      I12 Health Behavior
      O57 Comparative Studies of Countries

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