New Estimates of the Index of Economic Well-being for Selected OECD Countries, 1981 - 2007

Andrew Sharpe and Lars Osberg

No 2009-11, CSLS Research Reports from Centre for the Study of Living Standards

Abstract: This report presents new estimates of the Index of Economic Well-being (IEWB) and its four domains (consumption flows, stocks of wealth, economic equality, and economic security) for 14 OECD countries for the 1980-2007 period. It finds that in 2007 Norway had the highest level of economic well-being and Spain the lowest. Canada ranked ninth among the fourteen countries. Over the 1980-2007 period Denmark enjoyed the most rapid increase in economic well-being, and the Netherlands the slowest. In all 14 countries rate of advance of the IEWB was less than that of GDP per capita. The IEWB addresses most of the recommendations of the recently released report from the Commission for the Measurement of Economic Performance and Social Progress (the Stiglitz report) on what aspects of economic reality an index of economic well-being should capture.

Keywords: Living standards; quality of life; income; housing affordability; wealth; inequality; poverty; productivity; employment quality; net worth; income; disposable income; low income; labour market; economic security; employment; unemployment; OECD (search for similar items in EconPapers)
JEL-codes: D30 D60 D63 H50 J30 R20 (search for similar items in EconPapers)
Date: 2009-12
New Economics Papers: this item is included in nep-hap
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