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Thibault, Emmanuel
(2016)
Is GDP a Relevant Social Welfare Indicator? A Savers-Spenders Theory Approach.
TSE Working Paper, n. 16-651, Toulouse
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Abstract
The use of GDP as the main index of progress and welfare of a country has been the subject of a long debate amongst economists. Using and extending the saversspenders theory recently popularized by Mankiw (2000, AER), we analyze the theoretical relationships between GDP and the welfare of a society. This analysis is undertaken using several different overlapping generations models which all take into account the great heterogeneity of consumer behavior observed in the data (different labor supply choices, different degrees of altruism and/or different degrees of impatience to consume). The results indicate that GDP (per capita) is often a relevant index and is always a decent social welfare indicator.
| Item Type: | Monograph (Working Paper) |
|---|---|
| Language: | English |
| Date: | May 2016 |
| Place of Publication: | Toulouse |
| Uncontrolled Keywords: | Growth models, Heterogeneity of preferences, Welfare, Product accounts and wealth |
| JEL Classification: | D64 - Altruism D91 - Intertemporal Consumer Choice; Life Cycle Models and Saving J22 - Time Allocation and Labor Supply O41 - One, Two, and Multisector Growth Models |
| Subjects: | B- ECONOMIE ET FINANCE |
| Divisions: | TSE-R (Toulouse) |
| Institution: | Université Toulouse 1 Capitole |
| Site: | UT1 |
| Date Deposited: | 31 May 2016 07:37 |
| Last Modified: | 02 Apr 2021 15:53 |
| OAI Identifier: | oai:tse-fr.eu:30477 |
| URI: | https://publications.ut-capitole.fr/id/eprint/21981 |
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- Is GDP a Relevant Social Welfare Indicator? A Savers-Spenders Theory Approach. (deposited 31 May 2016 07:37) [Currently Displayed]
