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The Standard Of Living In The United States

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  • Denial T. Slesnick

Abstract

A common approach to the evaluation of the standard of living is based on a function of real income. In the United States this often takes the form of CPI‐deflated mean household income. Material well‐being is more appropriately evaluated using a consumption‐based index. Using data from the Consumer Expenditure Surveys we find that real mean income provides an inaccurate representation of the level and trend of the standard of living relative to real per equivalent total expenditure in the postwar United States. The differences between real income and real total expenditure per household equivalent member are found at all levels of aggregation.

Suggested Citation

  • Denial T. Slesnick, 1991. "The Standard Of Living In The United States," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 37(4), pages 363-386, December.
    • Handle: RePEc:bla:revinw:v:37:y:1991:i:4:p:363-386
    DOI: 10.1111/j.1475-4991.1991.tb00379.x
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    1. repec:cte:werepe:2909 is not listed on IDEAS
    2. repec:cte:werepe:10427 is not listed on IDEAS
    3. Coral del Río & Javier Ruiz-Castillo, 2001. "TIPs for poverty analysis. The case of Spain, 1980-81 to 1990-91," Investigaciones Economicas, Fundación SEPI, vol. 25(1), pages 63-91, January.
    4. Matilde Mas Ivars & Francisco José Goerlich Gisbert, 1999. "- Desigualdad Y Convergencia," Working Papers. Serie EC 1999-07, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
    5. Esa Karonen & Mikko Niemelä, 2022. "Necessity-Rich, Leisure-Poor: The Long-Term Relationship Between Income Cohorts and Consumption Through Age-Period-Cohort Analysis," Journal of Family and Economic Issues, Springer, vol. 43(3), pages 599-620, September.
    6. repec:cte:werepe:we061103 is not listed on IDEAS
    7. Antonio Villar, 2015. "Crisis, households’ expenditure and family structure," Working Papers 1522, BBVA Bank, Economic Research Department.
    8. Río, Coral del, 1997. "Demographic trends and living standards the case of Spain during the 1980´s," UC3M Working papers. Economics 6060, Universidad Carlos III de Madrid. Departamento de Economía.
    9. Thesia I. Garner & Javier Ruiz‐Castillo & Mercedes Sastre, 2003. "The Influence of Demographics and Household‐Specific Price Indices on Consumption‐Based Inequality and Welfare: A Comparison of Spain and the United States," Southern Economic Journal, John Wiley & Sons, vol. 70(1), pages 22-48, July.
    10. repec:diw:diwwpp:dp126 is not listed on IDEAS
    11. repec:cte:werepe:6026 is not listed on IDEAS

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