Arbeitspapier
A utilitarian measure of economic growth
A utilitarian measure of economic growth combines changes in the distribution of income with changes in real income per person to show how much better off people are becoming over time. It is the rate of growth of the dollar value of average utility of income. As such , it is seen differently by people with different utility of income functions. A growth rate in U.S. household income of 0.63% per year as ordinarily measured disappears altogether - is transformed into a decline of 0.086% per year - when the utility of income function is sufficiently concave. Strengths, weaknesses and implicit assumptions of the utilitarian measure are discussed.
- Sprache
-
Englisch
- Erschienen in
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Series: Queen's Economics Department Working Paper ; No. 1356
- Klassifikation
-
Wirtschaft
Price Level; Inflation; Deflation
Business Fluctuations; Cycles
Economic Growth and Aggregate Productivity: General
- Thema
-
national income
utilitarian
certainty-equivalence
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Usher, Dan
- Ereignis
-
Veröffentlichung
- (wer)
-
Queen's University, Department of Economics
- (wo)
-
Kingston (Ontario)
- (wann)
-
2016
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:45 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Usher, Dan
- Queen's University, Department of Economics
Entstanden
- 2016
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