Global welfare comparisons

Geir Asheim

Canadian Journal of Economics, 2010, vol. 43, issue 4, 1412-1432

Abstract: To provide a normative foundation for transfers between different economies, one needs information on their `per capita welfare.' This paper considers various methods for doing this and reaches the following conclusions: (i) Such global welfare comparisons are more demanding than usually thought. (ii) The ranking of methods differs from that of local (over-time) comparisons, with real comprehensive per capita NNP being the least impractical method. The lesson is that global welfare comparisons should be performed with great care. The comparisons must be made in local real prices calculated according to `purchasing-power-parity,' where non-traded environmental amenities play an important role.

JEL-codes: D60 D90 O47 (search for similar items in EconPapers)
Date: 2010
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Citations: View citations in EconPapers (11)

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