Comprehensive NNP, Social Welfare, and the Rate of Return

Chuan-Zhong Li () and Löfgren, Karl-Gustaf ()
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Löfgren, Karl-Gustaf: Department of Economics, Umeå University, Postal: S 901 87 Umeå, Sweden

No 640, Umeå Economic Studies from Umeå University, Department of Economics

Abstract: We show that growth in NNP measured in constant prices indicates welfare improvement, provided that an observable rate of return measure is positive. This is an

alternative welfare interpretation of growth in comprehensive NNP compared with

that of Asheim and Weitzman (2001, this journal) which is based on a Divisia con-

sumer price index.

Keywords: Comprehensive NNP; welfare measurement; the rate of return (search for similar items in EconPapers)
JEL-codes: D61 D91 Q01 (search for similar items in EconPapers)
Date: 2004-09-27, Revised 2006-12-04
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Journal Article: Comprehensive NNP, social welfare, and the rate of return (2006)
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Persistent link: http://EconPapers.repec.org/RePEc:hhs:umnees:0640

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