Inclusive Growth: The OECD Measurement Framework
This paper presents the Measurement Framework of the OECD Inclusive Growth Initiative, a horizontal project that the OECD launched in 2012 to develop a new vision of economic growth that can translate in higher living standards for all. This measurement framework builds on the equivalent income appr...
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Format: | Elektronisch E-Book |
Sprache: | English |
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Paris
OECD Publishing
2015
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Schriftenreihe: | OECD Statistics Working Papers
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Online-Zugang: | Volltext |
Zusammenfassung: | This paper presents the Measurement Framework of the OECD Inclusive Growth Initiative, a horizontal project that the OECD launched in 2012 to develop a new vision of economic growth that can translate in higher living standards for all. This measurement framework builds on the equivalent income approach to develop an indicator of Multidimensional Living Standards (MDLS) that combines monetary (income) and non-monetary (health and jobs) benefits from economic growth and aggregates them across individuals with different characteristics. The paper discusses estimates of MDLS for 29 OECD countries and China in the period 1995-2012. It finds that between 1995 and 2007 living standards of the median household have increased in all countries under study and have gone up the most in countries where they were initially lower. The convergence in living standards has been driven by convergence in all underlying dimensions, namely income, unemployment and to a lesser extent, longevity. Between 2007 and 2012 living standards of median households hardly grew and several countries witnessed receding living standards. The bulk of the loss is explained by rising unemployment, while median household income growth has remained broadly stable |
Beschreibung: | 1 Online-Ressource (38 Seiten) 21 x 29.7cm |
DOI: | 10.1787/5jrqppxjqhg4-en |
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spelling | Boarini, Romina Verfasser aut Inclusive Growth The OECD Measurement Framework Romina Boarini, Fabrice Murtin and Paul Schreyer Paris OECD Publishing 2015 1 Online-Ressource (38 Seiten) 21 x 29.7cm txt rdacontent c rdamedia cr rdacarrier OECD Statistics Working Papers This paper presents the Measurement Framework of the OECD Inclusive Growth Initiative, a horizontal project that the OECD launched in 2012 to develop a new vision of economic growth that can translate in higher living standards for all. This measurement framework builds on the equivalent income approach to develop an indicator of Multidimensional Living Standards (MDLS) that combines monetary (income) and non-monetary (health and jobs) benefits from economic growth and aggregates them across individuals with different characteristics. The paper discusses estimates of MDLS for 29 OECD countries and China in the period 1995-2012. It finds that between 1995 and 2007 living standards of the median household have increased in all countries under study and have gone up the most in countries where they were initially lower. The convergence in living standards has been driven by convergence in all underlying dimensions, namely income, unemployment and to a lesser extent, longevity. Between 2007 and 2012 living standards of median households hardly grew and several countries witnessed receding living standards. The bulk of the loss is explained by rising unemployment, while median household income growth has remained broadly stable Economics Murtin, Fabrice ctb Schreyer, Paul ctb https://doi.org/10.1787/5jrqppxjqhg4-en Verlag kostenfrei Volltext |
spellingShingle | Boarini, Romina Inclusive Growth The OECD Measurement Framework Economics |
title | Inclusive Growth The OECD Measurement Framework |
title_auth | Inclusive Growth The OECD Measurement Framework |
title_exact_search | Inclusive Growth The OECD Measurement Framework |
title_exact_search_txtP | Inclusive Growth The OECD Measurement Framework |
title_full | Inclusive Growth The OECD Measurement Framework Romina Boarini, Fabrice Murtin and Paul Schreyer |
title_fullStr | Inclusive Growth The OECD Measurement Framework Romina Boarini, Fabrice Murtin and Paul Schreyer |
title_full_unstemmed | Inclusive Growth The OECD Measurement Framework Romina Boarini, Fabrice Murtin and Paul Schreyer |
title_short | Inclusive Growth |
title_sort | inclusive growth the oecd measurement framework |
title_sub | The OECD Measurement Framework |
topic | Economics |
topic_facet | Economics |
url | https://doi.org/10.1787/5jrqppxjqhg4-en |
work_keys_str_mv | AT boariniromina inclusivegrowththeoecdmeasurementframework AT murtinfabrice inclusivegrowththeoecdmeasurementframework AT schreyerpaul inclusivegrowththeoecdmeasurementframework |