Gross Domestic Product has historically been the dominant, often sole, yardstick regarding a nation's economic development, growth, and well-being. This paper acknowledges GDP's shortcomings and aims development more rounded metrics to better measure well-being. The aim of this thesis is to advance the work done by 2009 Commission on the Measurement of Economic Performance and Social Progress by reassessing the twelve recommendations made by Stiglitz, Sen, and Fitoussi and attempting to apply them to a new dashboard of metrics. JEL Classification I31 E01 E21 Keywords well-being, economic performance, GDP, Stiglitz Commission, quality-of-life, social progress Abstrakt Hrubý domácí produkt je historicky dominantní metrika v souvislosti s národním hospodářským rozvojem, růstem a blahobytem. Tato práce potvrzuje nedostatky HDP a jejím cílem je vývoj více vyvážené metriky k lepšímu měření blahobytu. Zaměřuje se na prohloubení práce Stiglitze, Sena a Fitoussiho z roku 2009 (Commission on the Measurement of Economic Performance and Social Progress), přehodnocuje jejich dvanáct doporučení a pokouší se je aplikovat na kolekci možných měření společenského rozvoje.

Security about one's economic future is something that is valued by risk-averse individuals and its absence may decrease their economic well-being. Therefore, rich societies have social protection mechanisms in place to guard people against potential economic hazards. However, such mechanisms may be absent in poor countries where people are not only poorer but exposed to significant economic risks. Under this context, this paper inquires if there is a comparable way to measure an Index of Economic Security for a sample of three South Asian and seven OECD countries. We provide a theoretical framework to articulate why economic security is important in the measurement of well-being. We also discuss the human rights perspective on economic insecurity and its implications for measurement of economic security. After constructing a basic index, we conduct sensitivity analysis to determine how much impact methodological choices have on country performance.

No description available.

<p>As an aggregate, American households have shown rising debt levels over the past few decades, yet we do not understand how debt varies within households over time and what factors influence this variation in a meaningful way. To date, household debt appears predominantly as a component of measures of net worth, obscuring heterogeneity in the meaning of debt within a household. Moreover, most studies focusing specifically on indebtedness rely on cross-sectional data. In addition, no cohesive theoretical model exists to account for changing patterns of debt. This dissertation seeks to fill these gaps. Utilizing a variety of methodological approaches and drawing on longitudinal data from the National Longitudinal Survey of Youth 1979, it adds sociological explanation to a social process that has been previously ignored and under-theorized.</p> <p>First, drawing from literature in economics and sociology, I propose a dynamic, life course model of indebtedness that specifies three mechanisms driving differentiation in household indebtedness: institutional context (period), social heterogeneity, and patterned disadvantage, or structural risk. Second, I use multilevel logistic regressions to explore the association between the hypothesized mechanisms and the likelihood of holding non-collateralized debt. While experiencing negative life course risks increases the likelihood of holding debt, I find that occupying positions of structural disadvantage--being black, being in poverty--decreases the likelihood of holding debt, while having advantages--higher education, being married, holding assets--increases the likelihood of holding debt, pointing to distinct differences in who can access debt to buffer life course shocks and who cannot. Examining the interrelationships between debts and assets further underscores the tenuous economic well-being of the disadvantaged. I find that those most likely to experience negative life events are both less likely to have financial assets with which to buffer these events and more likely to experience constrained access to non-collateralized debt.</p> <p>Third, I employ multilevel linear regressions to examine the association between the proposed mechanisms and three unique indicators of debt burden. I find that many of the standard coefficients included in models of net worth are not significant predictors of the level of non-collateralized, non-revolving debt, suggesting that we know much more about the correlates of income and wealth than we do household debt. Variation in debt burden may be better understood by heterogeneity in non-economic variables frequently not captured in survey research. To better explore this unobserved heterogeneity, I utilize latent class regression models to estimate the early life course trajectories of debt burden for the NLSY79 cohort. I find four distinct trajectories of indebtedness with varying consequences for later life financial outcomes. Overall, I conclude that household debt is nuanced and contextually contingent. More importantly, debt adds to our understanding of long-term stratification processes when studied as a unique indicator of inequality.</p> / Dissertation

This study examines the economic indicator known as business climate in relation to the state level rates of child poverty. A theoretical framework is constructed which presents arguments that are opposed to and in favor of a robust business climate. Those in favor would contend that business climate is not associated with the variation in child poverty, whereas those opposed would claim that it has a negative association with the economic well-being of children. This research is cross-sectional (year 2000) and relies upon variables at the state level. Bivariate analysis indicates that there is a significant positive correlation between business climate and child poverty. However, when other factors are taken into account, such as family structure and geographic location, this relationship disappears. Therefore, the study concludes that there is not a negative association between promoting the business climate of a state and the economic wellbeing of children.

Financial illiteracy broadly affects people’s financial and economic well-being. The purpose of this thesis is to identify how the magnitudes of financial literacy determinants change under different residency settings. A county-level calculation of financial literacy is created, and logit and negative binomial regressions are employed to compare the relationship between demographic variables and financial literacy in metro/non-metro and urban/rural counties. Data on individual’s financial knowledge and personal characteristics is obtained from the FINRA National Financial Capability Study. Urban and rural residency is determined using USDA ERS Rural-Urban Continuum Codes and the Index of Relative Rurality. These results provide an improved understanding of who is more likely to experience higher and lower financial literacy and may be useful for policymakers and educators wanting to provide targeted resources for improving financial literacy in their area.

No description available.

Amplamente relacionado à forma com que os indivíduos valorizam as temáticas humanas, sociais e econômicas, o bem-estar pode ser vislumbrado sob diferentes aspectos, no entanto, todos intimamente atrelados entre si. Uma das formas de se observar o bem-estar é através da dimensão econômica, cujo enfoque é direcionado aos elementos que proporcionam maior nível de comodidade econômica e satisfação individual ou coletiva. Tendo em vista a importância de indicadores para subsidiar a implementação e monitoramento de políticas públicas, assim como disponibilizar informações transparentes à população, a construção de um índice de bem-estar econômico que busque captar a realidade econômica e regional dos estados brasileiros se justifica. Considerando o exposto, o presente estudo teve por objetivo a construção de um Índice de Bem-Estar Econômico (IBEE) para as unidades da federação brasileira, considerando os anos de 2002 e 2008. Especificamente, buscou-se verificar os níveis de bem-estar econômico e de seus sub-componentes nos anos de 2002 e 2008, além de compará-los entre os estados brasileiros. Ademais, fez-se a proposta de analisar comparativamente os resultados do IBEE em relação aos valores apresentados pelo PIB per capita. Por fim, objetivou-se a estimação do Índice de Desenvolvimento Humano (IDH) a partir da substituição da variável renda que o compõe pelos valores obtidos no cômputo do IBEE, de forma a avaliar possíveis diferenças entre o IDH calculado de maneira convencional e o IDH modificado (IDH-M). O índice proposto foi composto por quatro dimensões distintas: Fluxos de Consumo, Riqueza Real Legado Intergeracional, Equidade e Seguridade Econômica. Os principais resultados demonstraram que, independentemente da ponderação utilizada, Santa Catarina foi o estado brasileiro que apresentou o maior bem-estar econômico em relação aos demais. Por outro lado, Alagoas foi o estado com pior desempenho, ocupando a última posição do ranking em todas as análises. A comparação entre o PIB per capita e o IBEE mostrou que, com exceção do Distrito Federal, todos os estados apresentaram o índice de bem-estar superior ao PIB per capita. Além disso, observou-se que o Distrito Federal perde sua vantagem quando considerados outros aspectos relacionados ao bem-estar econômico. Ademais, verificou-se que não há um comportamento regular entre os dois indicadores, ou seja, não é possível afirmar que um estado com elevado PIB por indivíduo necessariamente apresentará altos níveis de bem-estar econômico e vice-versa. A análise do IDH e do IDH-M permitiu observar que todas as unidades da federação apresentaram estimativas do índice modificado inferior ao IDH, sugerindo uma possível superestimação ao ser utilizada a renda per capita para estimação do acesso a recursos econômicos. Desta forma, a partir da necessidade de construção de uma medida sintética de bem-estar econômico, o IBEE apresenta-se como um índice capaz de mensurar de maneira mais adequada os distintos aspectos associados a um padrão de vida decente. / A way to evaluate the well-being of a society is through economic dimensions, which focuses directly on the elements that provide higher level of economic comfort, and individual or collective satisfaction. Given the importance of indicators to support the implementation and monitoring of public policies, as well as to provide clear information to the population, the elaboration of an index of economic well-being that seeks to capture the economic and regional reality of the Brazilian states is justified. The objective of this study is to build an Index of Economic Well-Being (IEWB) for the Brazilian federation units, considering the years 2002 and 2008. Specifically, we determine the levels of economic well-being and their sub-components in the years 2002 and 2008. Furthermore, we analyze comparatively the results of the IEWB in relation to the values presented by Gross Domestic Product (GDP) per capita. Finally, we estimate the Human Development Index (HDI) by substituting its \"income\" variable by the values obtained for the IEWB in order to evaluate possible differences between the standard HDI and the modified HDI (HDI-M). The proposed index was composed of four distinct dimensions: \"Consumption Flows\", \"Real Wealth Intergenerational Legacy\", \"Equity\" and \"Economic Security\". The main results demonstrated that, independently of the weights attributed in the index, Santa Catarina was the Brazilian state that revealed the highest economic well-being in relation to the others. On the other hand, Alagoas was the worst state. The comparison between GDP per capita and IEWB showed that, except for the Federal District, all states presented index of well-being greater than GDP per capita. In addition, it was observed that the Federal District loses its advantages when considering other aspects related to economic well-being. Moreover, it was found that there is not a regular behavior between the two indicators, consequently, it is not possible to assure that a state with a high GDP per capita will necessarily exhibit high levels of economic well-being and vice versa. The analysis of the HDI and the HDI-M allowed to observe that all federation units presented estimates of the modified index lower than the HDI, suggesting a possible overestimation when income per capita is used to evaluate the access to economic resources. Therefore, considering the necessity to construct a synthetic measure to determine the economic well-being, the IEWB demonstrated to be capable to measure more adequately the distinguished aspects associated with a decent standard of living.

Amplamente relacionado à forma com que os indivíduos valorizam as temáticas humanas, sociais e econômicas, o bem-estar pode ser vislumbrado sob diferentes aspectos, no entanto, todos intimamente atrelados entre si. Uma das formas de se observar o bem-estar é através da dimensão econômica, cujo enfoque é direcionado aos elementos que proporcionam maior nível de comodidade econômica e satisfação individual ou coletiva. Tendo em vista a importância de indicadores para subsidiar a implementação e monitoramento de políticas públicas, assim como disponibilizar informações transparentes à população, a construção de um índice de bem-estar econômico que busque captar a realidade econômica e regional dos estados brasileiros se justifica. Considerando o exposto, o presente estudo teve por objetivo a construção de um Índice de Bem-Estar Econômico (IBEE) para as unidades da federação brasileira, considerando os anos de 2002 e 2008. Especificamente, buscou-se verificar os níveis de bem-estar econômico e de seus sub-componentes nos anos de 2002 e 2008, além de compará-los entre os estados brasileiros. Ademais, fez-se a proposta de analisar comparativamente os resultados do IBEE em relação aos valores apresentados pelo PIB per capita. Por fim, objetivou-se a estimação do Índice de Desenvolvimento Humano (IDH) a partir da substituição da variável renda que o compõe pelos valores obtidos no cômputo do IBEE, de forma a avaliar possíveis diferenças entre o IDH calculado de maneira convencional e o IDH modificado (IDH-M). O índice proposto foi composto por quatro dimensões distintas: Fluxos de Consumo, Riqueza Real Legado Intergeracional, Equidade e Seguridade Econômica. Os principais resultados demonstraram que, independentemente da ponderação utilizada, Santa Catarina foi o estado brasileiro que apresentou o maior bem-estar econômico em relação aos demais. Por outro lado, Alagoas foi o estado com pior desempenho, ocupando a última posição do ranking em todas as análises. A comparação entre o PIB per capita e o IBEE mostrou que, com exceção do Distrito Federal, todos os estados apresentaram o índice de bem-estar superior ao PIB per capita. Além disso, observou-se que o Distrito Federal perde sua vantagem quando considerados outros aspectos relacionados ao bem-estar econômico. Ademais, verificou-se que não há um comportamento regular entre os dois indicadores, ou seja, não é possível afirmar que um estado com elevado PIB por indivíduo necessariamente apresentará altos níveis de bem-estar econômico e vice-versa. A análise do IDH e do IDH-M permitiu observar que todas as unidades da federação apresentaram estimativas do índice modificado inferior ao IDH, sugerindo uma possível superestimação ao ser utilizada a renda per capita para estimação do acesso a recursos econômicos. Desta forma, a partir da necessidade de construção de uma medida sintética de bem-estar econômico, o IBEE apresenta-se como um índice capaz de mensurar de maneira mais adequada os distintos aspectos associados a um padrão de vida decente. / A way to evaluate the well-being of a society is through economic dimensions, which focuses directly on the elements that provide higher level of economic comfort, and individual or collective satisfaction. Given the importance of indicators to support the implementation and monitoring of public policies, as well as to provide clear information to the population, the elaboration of an index of economic well-being that seeks to capture the economic and regional reality of the Brazilian states is justified. The objective of this study is to build an Index of Economic Well-Being (IEWB) for the Brazilian federation units, considering the years 2002 and 2008. Specifically, we determine the levels of economic well-being and their sub-components in the years 2002 and 2008. Furthermore, we analyze comparatively the results of the IEWB in relation to the values presented by Gross Domestic Product (GDP) per capita. Finally, we estimate the Human Development Index (HDI) by substituting its \"income\" variable by the values obtained for the IEWB in order to evaluate possible differences between the standard HDI and the modified HDI (HDI-M). The proposed index was composed of four distinct dimensions: \"Consumption Flows\", \"Real Wealth Intergenerational Legacy\", \"Equity\" and \"Economic Security\". The main results demonstrated that, independently of the weights attributed in the index, Santa Catarina was the Brazilian state that revealed the highest economic well-being in relation to the others. On the other hand, Alagoas was the worst state. The comparison between GDP per capita and IEWB showed that, except for the Federal District, all states presented index of well-being greater than GDP per capita. In addition, it was observed that the Federal District loses its advantages when considering other aspects related to economic well-being. Moreover, it was found that there is not a regular behavior between the two indicators, consequently, it is not possible to assure that a state with a high GDP per capita will necessarily exhibit high levels of economic well-being and vice versa. The analysis of the HDI and the HDI-M allowed to observe that all federation units presented estimates of the modified index lower than the HDI, suggesting a possible overestimation when income per capita is used to evaluate the access to economic resources. Therefore, considering the necessity to construct a synthetic measure to determine the economic well-being, the IEWB demonstrated to be capable to measure more adequately the distinguished aspects associated with a decent standard of living.

A partir de la preocupación de muchos en la sociedad, real y permanente en unos y circunstancialen otros, por la moralidad en la vida pública y aun privada, se presentan y discuten algunos conceptosrelevantes en la materia y se los refiere a las profesiones y en particular a la Economía. Setrata enseguida de precisar las condiciones para un ejercicio ético de la profesión de economistay lo que esto implica para el conjunto de la profesión y para las personas. Por último, se planteanalgunos problemas específicos que aparecen en el ejercicio profesional dado el importante gradode desarrollo de la disciplina y el conjunto de problemas y de expectativas en la sociedad, asícomo el riesgo de convalidar faltas de ética por ausencia de sanción oportuna y adecuada. -- This paper addresses an ongoing debate on significant concepts about morality in public andeven private life, and their relationships with economist. It entails a concern of several scholars(more permanent for some of them and more circumstantial for others), and attempts to get aprecise view of the conditions for a professional performance that goes according to an ethicalcommitment and a concern for the people. Finally, it describes some specific problems that appearin the professional performance due to the importance of the discipline within ongoingsocial problems and expectations, and due to the permanent risk of validating ethical faultsbecause of a lack of adequate sanctioning.