Title
Beyond GDP : using equivalent incomes to measure well-being in Europe Beyond GDP : using equivalent incomes to measure well-being in Europe
Author
Faculty/Department
Faculty of Social Sciences. Sociology
Publication type
article
Publication
Dordrecht ,
Subject
Sociology
Economics
Source (journal)
Social indicators research: an international and interdisciplinary journal for quality-of-life measurement. - Dordrecht
Volume/pages
126(2016) :1 , p. 21-55
ISSN
0303-8300
ISI
000370163800002
Carrier
E
Target language
English (eng)
Full text (Publishers DOI)
Affiliation
University of Antwerp
Abstract
It has become widely accepted that focusing exclusively on income growth may lead to a too narrow-sighted measure of changes in well-being. People care about other dimensions of life, such as their health, employment, social interactions and personal safety. Moreover, an exclusive focus on income growth remains blind to the distribution of income and well-being in the society. We propose therefore a set of five principles for a richer measure of well-being. In particular, we advocate the use of a measure based on equivalent incomes, which satisfies these principles. We discuss and illustrate how this equivalent income approach can be implemented in Europe, using the ESS data for 2008 and 2010. We find that introducing inequality aversion and including other dimensions in the analysis leads to a remarkably different perspective on the growth of well-being in Europe.
E-info
https://repository.uantwerpen.be/docman/iruaauth/01be46/131266.pdf
Full text (open access)
https://repository.uantwerpen.be/docman/irua/f35453/131266.pdf
E-info
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Handle