'Misunderestimating' Living Standards

John Schmitt and David Rosnick

CEPR Reports and Issue Briefs from Center for Economic and Policy Research (CEPR)

Abstract: This issue brief finds that a forecast by Oxford Economics suggesting that the United Kingdom’s living standards will exceed those of the U.S. in 2008 is misleading. CEPR found that the forecast relies on a basic misunderstanding of standard methods of comparing international standards of living. Using the appropriate economic method, in 2008, the GDP per capita of the United States will exceed that of the United Kingdom by almost 19 percent.

Keywords: standard of living; international standards of living (search for similar items in EconPapers)
JEL-codes: J J24 O O47 O50 O51 O57 (search for similar items in EconPapers)
Pages: 2 pages
Date: 2008-01
New Economics Papers: this item is included in nep-hap and nep-hpe
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.cepr.net/documents/publications/living_standards_2008_01.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:epo:papers:2008-01

Access Statistics for this paper

More papers in CEPR Reports and Issue Briefs from Center for Economic and Policy Research (CEPR) Contact information at EDIRC.
Bibliographic data for series maintained by ().