The Measurement of Household Welfare

Overview

The measurement of household welfare is one of the most compelling yet demanding areas in economics. To place the analysis of inequality and poverty within an economic framework where individuals are making decisions about current and lifetime incomes and expenditures is a difficult task. This is made all the more challenging by the complexity of the decision making process in which households are involved, and the variety of constraints that they face. Issues which are important and topical are addressed in this...
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Overview

The measurement of household welfare is one of the most compelling yet demanding areas in economics. To place the analysis of inequality and poverty within an economic framework where individuals are making decisions about current and lifetime incomes and expenditures is a difficult task. This is made all the more challenging by the complexity of the decision making process in which households are involved, and the variety of constraints that they face. Issues which are important and topical are addressed in this volume by contributions from experts from Europe, North America, and Australia. A unifying theme is the strong relationship between the theoretical concepts from microeconomics and the appropriate use of micro data in evaluating household welfare. This book will be of interest to advanced students and active researchers in microeconomics, public economics, applied microeconometrics, and social policy.
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Product Details

  • ISBN-13: 9780521118897
  • Publisher: Cambridge University Press
  • Publication date: 9/3/2009
  • Pages: 296
  • Product dimensions: 6.00 (w) x 9.00 (h) x 0.80 (d)

Table of Contents

List of contributors
1 An introduction to applied welfare analysis 1
2 Measuring the cost of children: a theoretical framework 51
3 The collective approach to household behaviour 70
4 Ordinal and cardinal utility: an integration of the two dimensions of the welfare concept 86
5 The determination of welfare in nonintact families 111
6 Female labour supply, housework and family welfare 140
7 Engel equivalence scales in Sri Lanka: exactness, specification, measurement error 164
8 Measuring the life-cycle consumption costs of children 192
9 Family fortunes in the 1970s and 1980s 215
10 Ethically-consistent welfare prescriptions are reference price-independent 247
11 The effect of systematic misperception of income on the subjective poverty line 265
Index of names 275
Index of subjects 278
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