November 19, 2018
This blog is dedicated to the memory of Giang Ho, an IMF economist who died suddenly this past August. Her efforts and ingenuity were critical to carrying out this analytical work. We miss her and will never forget her.
March 7, 2018
For years, economists have worked to develop a way of measuring general well-being and comparing it across countries. The main metric has been differences in income or gross domestic product per person. But economists have long known that GDP is an imperfect measure of well-being, counting just the value of goods and services bought and sold in markets.
The challenge is to account for non-market factors such as the value of leisure, health, and home production, such as cleaning, cooking and childcare, as well as the negative byproducts of economic activity, such as pollution and inequality. […]