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Title:Income-based measures of average well-being PDF Logo
Authors:Dowrick, Steve
Issue Date:2004
Series/Report no.:Research Paper, UNU-WIDER, United Nations University (UNU) 2004/24
Abstract:Internation comparisons of average national incomes omit important information about leisure, home production, health, etc. They are also bedevilled by index number problems. This paper suggests ways of combining working hours and life-expectancy with income comparisons, and shows that the fixed-price indexes of real income, such as those in the Penn World Table, substantially understate the income gaps between the poorest and richest countries.
Subjects:income comparisons
life expectancy
exchange rate bias
Geary-Khamis bias
the Afriat index
Document Type:Working Paper
Appears in Collections:WIDER Research Papers, United Nations University (UNU)

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