What is it about?
Economists traditionally measure well-being with real GDP per Capita but this has well known drawbacks. An economic well-being index is created for U.S. Metro areas for a better measure of quality of life in MSAs. Comparison can be made across MSAs, over time, and with real GDP per capita to better understand economic well-being in U.S. MSAs.
Why is it important?
Research on alternative measures of economic well-being have centered on national economies. This is the first paper to build on this relatively new area of research and apply it to metropolitan areas.
The following have contributed to this page: Professor Simon Medcalfe