Murtin, Fabrice; Boarini, Romina; Cordoba, Juan; … - 2015
This paper builds a welfare measure encompassing household disposable income, unemployment and longevity, while using … two different sets of “shadow prices” for non-income variables. The valuations of vital and unemployment risks estimated … the other hand, model-based shadow prices are typically underestimated as: i) the valuation of the unemployment risk is …