Ravallion, Martin - In: Journal of Development Economics 99 (2012) 2, pp. 201-209
aggregates country-level attainments in life expectancy, schooling and income. The main change was to relax the past assumption … greatly reduced its implicit weight on longevity in poor countries, relative to rich ones. By contrast, the new HDI …'s valuations of extra schooling are now very high—many times the economic returns. An alternative index is proposed that embodies …