Discussion Paper Details
Please find the details for DP8225 in an easy to copy and paste format below:
Title: Beyond GDP and Back: What is the Value-added by Additional Components of Welfare Measurement?
Author(s): Sonja C Kassenboehmer and Christoph M Schmidt
Publication Date: February 2011
Keyword(s): beyond GDP, happiness, Sen, Stiglitz, sustainability and welfare measurement
Programme Area(s): Labour Economics
Abstract: Building on the Stiglitz report, a growing literature suggests to explore other aspects of human welfare apart from material well-being, such as job security, crime, health, environmental factors and subjective perceptions. To explore the additional information of these indicators, we analyze data on the macro level from the German Federal Statistical Office combined with micro level data from the German SOEP (1991-2008). Much of the variation in many well-being measures can indeed be captured well by GDP and the unemployment rate. These correlations are far from perfect, thus giving considerable hope that there is room for a broader statistical reporting.
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Kassenboehmer, S and Schmidt, C. 2011. 'Beyond GDP and Back: What is the Value-added by Additional Components of Welfare Measurement?'. London, Centre for Economic Policy Research. https://cepr.org/active/publications/discussion_papers/dp.php?dpno=8225