This paper shows how distance functions, a tool typically employed in production economics to measure the distance between a set of inputs and a set of outputs, can be employed to approximate a composite measure encompassing the many dimensions of well-being. It also illustrates how to implement...

Non-cash benefits can have substantial effects on the distribution of economic welfare. Standard approaches to the inclusion of non-cash benefits in broader measures of resources have failed to take adequate account of the pattern of needs associated with the greater use of health and education...

Neither market income nor consumption expenditure provides an adequate picture of individual standard of living. It is time which enables and restricts individual activities and is a further brick to a more comprehensive picture of individual well-being. In our study we focus on a prominent part...

The Greek crisis was the deepest and longest ever recorded in an OECD country in the postwar period. Output declined by over a quarter and disposable income by more than 40%, while the unemployment rate exceeded 27%. The paper explores the effects of the crisis on the level and the structure of...

The Greek economic crisis resulted in a decline in household disposable income by more than 40%. Even though all population groups lost income in absolute terms, some were substantially more severely hit by the crisis. The paper examines the effect of the crisis on the population shares, the...

Imputed rental income of homeowners is tax exempt in most countries, despite the long-standing arguments recommending its inclusion in the tax base, on both equity and efficiency grounds. The current fiscal crisis revived interest towards this form of taxation. The paper investigates the fiscal...

Non-cash benefits can have substantial effects on the distribution of economic welfare. Standard approaches to the inclusion of non-cash benefits in broader measures of resources have failed to take adequate account of the pattern of needs associated with the greater use of health and education...

This paper shows how distance functions, a tool typically employed in production economics to measure the distance between a set of inputs and a set of outputs, can be employed to approximate a composite measure encompassing the many dimensions of well-being. It also illustrates how to implement...

Imputed rental income of homeowners is tax exempt in most countries, despite the long-standing arguments recommending its inclusion in the tax base, on both equity and efficiency grounds. The current fiscal crisis revived interest towards this form of taxation. The paper investigates the fiscal...

We explore the relationships between subjective well-being and income, as seen across individuals within a given country, between countries in a given year, and as a country grows through time. We show that richer individuals in a given country are more satisfied with their lives than are poorer...