The definition and measurement of economic well-being is receiving growing attention, both in academic research and policy agenda, as a key issue to provide a solid basis for decision-making at all levels, both national and local. There is general agreement among economists and policy-makers about the necessity to go beyond GDP but the convergence towards a new and wider definition and measurement is far from being reached. This is why research and experiments that try to test different definitions and indicators can help, through empirical results, to the ongoing debate. This paper attempts to measure the multidimensional well-being of the Italian Region Lombardy, for the years 1995-2005, along the lines of the Index of Economic Well-Being (IEWB) proposed by the Centre for the Study of Living Standards (Osberg, 1985; Osberg and Sharpe, 2002, 2005). The evolution of the index is aligned with that of per capita GDP from 1995 to 2001 but diverges in the following period because of the fall of regional per capita GDP and consumption in the period 2002-2005 and a contemporary strong growth of the health dimension and of the level of human capital stock (education).

(2009). Multidimensional economic well-being. Is it measurable? The case of Lombardy [working paper]. Retrieved from http://hdl.handle.net/10446/71832

Multidimensional economic well-being. Is it measurable? The case of Lombardy

Brugnoli, Alberto;
2009-01-01

Abstract

The definition and measurement of economic well-being is receiving growing attention, both in academic research and policy agenda, as a key issue to provide a solid basis for decision-making at all levels, both national and local. There is general agreement among economists and policy-makers about the necessity to go beyond GDP but the convergence towards a new and wider definition and measurement is far from being reached. This is why research and experiments that try to test different definitions and indicators can help, through empirical results, to the ongoing debate. This paper attempts to measure the multidimensional well-being of the Italian Region Lombardy, for the years 1995-2005, along the lines of the Index of Economic Well-Being (IEWB) proposed by the Centre for the Study of Living Standards (Osberg, 1985; Osberg and Sharpe, 2002, 2005). The evolution of the index is aligned with that of per capita GDP from 1995 to 2001 but diverges in the following period because of the fall of regional per capita GDP and consumption in the period 2002-2005 and a contemporary strong growth of the health dimension and of the level of human capital stock (education).
2009
Brugnoli, Alberto; Folloni, Giuseppe; Modena, Francesca
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/10446/71832
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