THE WELL‐BEING OF NATIONS: ESTIMATING WELFARE FROM INTERNATIONAL MIGRATION

Sanghoon Lee, Seung Hoon Lee and Jeffrey Lin

International Economic Review, 2021, vol. 62, issue 3, 1111-1130

Abstract: The limitations of GDP as a measure of welfare are well known. We propose a new method of estimating the well‐being of nations. Using gross bilateral international migration flows and a discrete choice model in which everyone in the world chooses a country in which to live, we estimate each country's overall quality of life. Our estimates, by relying on revealed preference, complement previous estimates of well‐being that consider only income or a small number of factors, or rely on structural assumptions about how these factors contribute to well‐being.

Date: 2021
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https://doi.org/10.1111/iere.12511

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Working Paper: The Well-Being of Nations: Estimating Welfare from International Migration (2020)
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