Clusters of attributes and well-being in the USA

Joseph Hirschberg, Esfandiar Maasoumi and Daniel Slottje

Journal of Applied Econometrics, 2001, vol. 16, issue 3, 445-460

Abstract: Using ARIMA models and entropy, the dynamic evolution of several functions of aggregate income and other attributes of well-being is analysed for statistical 'similarity' in order to determine potentially distinct dimensions in multidimensional analysis of welfare and quality of life in the USA. The entropy metric compares entire distributions and is more general than principal components and other correlation-based techniques for clustering. To help macroeconomic policy makers, we compare the distribution of several composite measures of well-being which include income, with the distribution of some common measures of aggregate income over the period 1915-1995. Per capita disposable income and growth in GNP are statistically distinct dimensions of well-being. Copyright © 2001 John Wiley & Sons, Ltd.

Date: 2001
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (11)

Downloads: (external link)
http://qed.econ.queensu.ca:80/jae/2001-v16.3/ Supporting data files and programs (text/html)

Related works:
Working Paper: Clusters of Attributes and Well-Being in the US (2001)
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:jae:japmet:v:16:y:2001:i:3:p:445-460

Ordering information: This journal article can be ordered from
http://www3.intersci ... e.jsp?issn=0883-7252

Access Statistics for this article

Journal of Applied Econometrics is currently edited by M. Hashem Pesaran

More articles in Journal of Applied Econometrics from John Wiley & Sons, Ltd.
Bibliographic data for series maintained by Wiley-Blackwell Digital Licensing () and Christopher F. Baum ().