The Well-Being of Nations: Estimating Welfare from International Migration
32 Pages Posted: 23 Oct 2019
Date Written: 2019-08-27
The limitations of GDP as a measure of welfare are well known. We propose a new method of estimating the well-being of nations. Using gross bilateral international migration flows and a discrete choice model in which everyone in the world chooses a country in which to live, we estimate each country's overall quality of life. Our estimates, by relying on revealed preference, complement previous estimates of economic well-being that consider only income or a small number of factors, or rely on structural assumptions about how these factors contribute to wellbeing.
Keywords: International migration, quality of life, GDP
JEL Classification: D63, F22, I31, J61
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