'Misunderestimating' Living Standards

This issue brief finds that a forecast by Oxford Economics suggesting that the United Kingdom’s living standards will exceed those of the U.S. in 2008 is misleading. CEPR found that the forecast relies on a basic misunderstanding of standard methods of comparing international standards of living. Using the appropriate economic method, in 2008, the GDP per capita of the United States will exceed that of the United Kingdom by almost 19 percent.

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Year of publication:	2008-01
Authors:	Schmitt, John ; Rosnick, David
Institutions:	Center for Economic and Policy Research (CEPR)
Subject:	standard of living \| international standards of living

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Extent:	application/pdf
Series:	CEPR Reports and Issue Briefs.
Type of publication:	Book / Working Paper
Language:	English
Notes:	2 pages
Classification:	J - Labor and Demographic Economics ; O - Economic Development, Technological Change, and Growth ; O51 - U.S.; Canada ; O57 - Comparative Studies of Countries ; O50 - Economywide Country Studies. General ; O47 - Measurement of Economic Growth; Aggregate Productivity ; J24 - Human Capital; Skills; Occupational Choice; Labor Productivity
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005677213