Household Wealth, Public Consumption, and Economic Well-Being in the United States
Edward Wolff (),
Ajit Zacharias and
Public Economics from University Library of Munich, Germany
Standard official measures of economic well-being are based on money income. The general consensus is that such measures are seriously flawed because they ignore several crucial determinants of well-being. We examine two such determinants-household wealth and public consumption-in the context of the United States. Our findings suggest that the level and distribution of economic well-being is substantially altered when money income is adjusted for wealth or public consumption.
Keywords: living standards; public consumption; household wealth; inequality (search for similar items in EconPapers)
JEL-codes: D31 D6 H4 P16 P17 (search for similar items in EconPapers)
Pages: 33 pages
New Economics Papers: this item is included in nep-ltv and nep-pbe
Note: Type of Document - word; prepared on PC; to print on HP/PostScript; pages: 33; figures: included
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Journal Article: Household wealth, public consumption and economic well-being in the United States (2005)
Working Paper: Household Wealth, Public Consumption and Economic Well-Being in the United States (2003)
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Persistent link: https://EconPapers.repec.org/RePEc:wpa:wuwppe:0309004
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