This paper presents a parsimonious, implementable model for the estimation of the short- and long-term expected rates of return on the Samp;P 500 stock market Index. The model estimates a parametric form for the Market Price of Risk, the Sharpe Ratio, of the Samp;P 500 Index. In addition to...

The use of GDP growth as an indicator of national progress has many critics. Ahluwalia and Chenery noted that GDP growth places greater weight on the income growth of richer income groups, and proposed distribution-neutral and pro-poor alternatives. More recently, studies by the World Resources...

Economic studies on environmental degradation generally have a narrow focus on per capita income as an explanatory variable, and often fail to distinguish among the various types of environmental quality or damage. This paper addresses both problems by examining the effect of relative equality...

Accounting for environmental damage is relevant to how one measures the extent and severity of inequality and poverty, and the question of ecological distribution - how the costs associated with environmental damage are distributed across the population - is critical. Following Khan’s (1997)...

Claims to the inadequacy of GDP growth as an indicator of well-being improvement are widespread. Yet the notion of well-being is very broad, hence difficult to quantify, so alternative indexes (e.g., ISEW, GPI) may also be deficient. This article approaches well-being from a multi-dimensional...