Comprehensive NNP, social welfare, and the rate of return
2006 (English)In: Economics Letters, Vol. 90, 254-259 p.Article in journal (Refereed) Published
We show that growth in NNP measured in constant prices indicates welfare improvement, provided that an observable rate of return measure is positive.This is an alternative welfare interpretation of growth in comprehensive NNP compared with that of Asheim and Weitzman [Asheim, B. G., Weitzman, M. L., 2001. Does NNP growth indicate welfare improvement? Economics Letters 73, 233–239] which is based on a Divisia consumer price index.
Place, publisher, year, edition, pages
2006. Vol. 90, 254-259 p.
Comprehensive NNP; Welfare measurement; The rate of return
IdentifiersURN: urn:nbn:se:uu:diva-20091OAI: oai:DiVA.org:uu-20091DiVA: diva2:47863