Gross Domestic Product (GDP) is often treated as shorthand for national economic well-
being, even though it was never intended to be; it is a measure of (some) of the marketable …

Metrics matter for policy and policy matters for well-being. In this report, the co-chairs of the
OECD-hosted High Level Expert Group on the Measurement of Economic Performance and …

High consumers contribute to environmental degradation through their own consumption
practices and the setting of societal material aspirations. This review of research on …

We propose a theory of indebted demand, capturing the idea that large debt burdens lower
aggregate demand, and thus the natural rate of interest. At the core of the theory is the …

The goal of this chapter is to study how, and by how much, household income, wealth, and
preference heterogeneity amplify and propagate a macroeconomic shock. We focus on the …

Rising income inequality since the 1980s in the United States has generated a substantial
increase in saving by the top of the income distribution, which we call the saving glut of the …

A bold agenda for a better way to assess societal well-being, by three of the world's leading
economists and statisticians" If we want to put people first, we have to know what matters to …

Abstract Heathcote et al.(2010) conducted an empirical analysis of several dimensions of
inequality in the United States over the years 1967-2006, using publicly-available survey …

Studies of economic inequality almost always separately examine income, consumption,
and wealth inequality, and hence, miss the important synergy amongst the three measures …

This paper presents a survey of causes and correction approaches to address the “missing
rich” problem in household surveys.“Missing rich” here is a catch-all term for the issues that …