Quotation Bloom, David E., Fan, Victoria Y., Kufenko, Vadim, Ogbuoji, Osondo, Prettner, Klaus, Yamey, Gavin. 2021. Going Beyond GDP with a Parsimonious Indicator: Inequality-Adjusted Healthy Lifetime Income. Vienna Yearbook of Population Research. 19




Per capita GDP has limited use as a well-being indicator because it does notcapture many dimensions that imply a “good life”, such as health and equality ofopportunity. However, per capita GDP has the virtues of being easy to interpret andto calculate with manageable data requirements. Against this backdrop, there is aneed for a measure of well-being that preserves the advantages of per capita GDP,but also includes health and equality. We propose a new parsimonious indicatorto fill this gap, and calculate it for 149 countries. This new indicator could beparticularly useful in complementing standard well-being indicators during theCOVID-19 pandemic. This is because (i) COVID-19 predominantly affects olderadults beyond their prime working ages whose mortality and morbidity do notstrongly affect GDP, and (ii) COVID-19 is known to have large effects on inequalityin many countries.


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Publication's profile

Status of publication Published
Affiliation WU
Type of publication Journal article
Journal Vienna Yearbook of Population Research
Language English
Title Going Beyond GDP with a Parsimonious Indicator: Inequality-Adjusted Healthy Lifetime Income
Volume 19
Year 2021
Reviewed? Y
URL https://austriaca.at/0xc1aa5576_0x003c4648.pdf
DOI https://doi.org/10.1553/populationyearbook2021.res1.1
Open Access Y
Open Access Link https://austriaca.at/0xc1aa5576_0x003c4648.pdf


Prettner, Klaus (Details)
Bloom, David E. (Harvard T.H. Chan School of Public Health, United States/USA)
Fan, Victoria Y. (University of Hawaii at Manoa, United States/USA)
Kufenko, Vadim (University of Hohenheim, Germany)
Ogbuoji, Osondo (Duke University, United States/USA)
Yamey, Gavin (Duke University, United States/USA)
Department of Economics (Crespo Cuaresma) (Details)
Research areas (ÖSTAT Classification 'Statistik Austria')
3911 Economics of the health system (Details)
5371 Macroeconomics (Details)
5404 Demography (Details)
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