Publication
Title
Beyond GDP : using equivalent incomes to measure well-being in Europe
Author
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.
Language
English
Source (journal)
Social indicators research: an international and interdisciplinary journal for quality-of-life measurement. - Dordrecht
Publication
Dordrecht : 2016
ISSN
0303-8300
Volume/pages
126:1(2016), p. 21-55
ISI
000370163800002
Full text (Publisher's DOI)
Full text (open access)
Full text (publisher's version - intranet only)
UAntwerpen
Faculty/Department
Research group
Publication type
Subject
Affiliation
Publications with a UAntwerp address
External links
Web of Science
Record
Identification
Creation 19.02.2016
Last edited 15.11.2017
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