Comparing Living Standards Across Nations Real Incomes at the Top, the Bottom, and the Middle Smeeding, Timothy M. en_US Rainwater, Lee en_US 2021-11-25T12:34:57Z 2021-11-25T12:34:57Z 2002 en_US
dc.description.abstract The types of yardsticks used by economists to measure living standards (or economic well-being across nations) are basically two. Macroeconomists use aggregate gross domestic product (GDP) per capita—a single value summary of economic output per person in a nation—to measure economic well-being. By converting currencies into comparable dollars (into real ‘purchasing power adjusted’ terms) one creates a ‘one number per country’ measure of economic wellbeing. In contrast, microeconomists compare the distribution of disposable income across households to assess the distribution of economic well-being, expressed in terms of income per equivalent adult (or per equivalent child). Here the comparisons of well-being are almost always relative ‘within-nation’ comparisons of many points in the income distribution, including measures of central tendency such as the median or mean, but also the spread of incomes among people. en_US
dc.identifier.issn 1447-8978 en_US
dc.language English
dc.language.iso EN en_US
dc.publisher Social Policy Research Centre, UNSW en_US
dc.relation.ispartofseries SPRC Discussion Paper en_US
dc.rights CC BY-NC-ND 3.0 en_US
dc.rights.uri en_US
dc.source Legacy MARC en_US
dc.title Comparing Living Standards Across Nations Real Incomes at the Top, the Bottom, and the Middle en_US
dc.type Working Paper en
dcterms.accessRights open access
dspace.entity.type Publication en_US
unsw.identifier.doi Sydney en_US
unsw.relation.ispartofworkingpapernumber 120 en_US
unsw.relation.originalPublicationAffiliation Smeeding, Timothy M., Centre for Policy Research, Syracuse University en_US
unsw.relation.originalPublicationAffiliation Rainwater, Lee, en_US
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