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Economic Well-Being in U.S. Metropolitan Statistical Areas

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  • Simon Medcalfe

    (Augusta University)

Abstract

In recent years there has been increased interest from economists and policy makers to measure a nation’s economic well-being. This paper extends this development to US Metropolitan Statistical Areas (MSAs). An economic well-being index is constructed using indicators of income, education, crime, health and pollution. The analysis allows comparison of a MSA with another and with itself over time. The index is not highly correlated with real gross domestic product per capita and therefore adds value to the discussion of economic well-being in MSAs. However, it is shown that the index may violate social choice principles thereby reducing its usefulness.

Suggested Citation

  • Simon Medcalfe, 2018. "Economic Well-Being in U.S. Metropolitan Statistical Areas," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 139(3), pages 1147-1167, October.
    • Handle: RePEc:spr:soinre:v:139:y:2018:i:3:d:10.1007_s11205-017-1755-5
    DOI: 10.1007/s11205-017-1755-5
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    2. Justin Ehrlich & Simon Medcalfe & Shane Sanders, 2021. "Composite Index Ranking of Economic Well-Being in U.S. Metropolitan Areas: How Prevalent are Rank Anomalies?," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 157(2), pages 543-562, September.
    3. Ifra Bashir & Ishtiaq Hussain Qureshi, 2023. "A Systematic Literature Review on Personal Financial Well-Being: The Link to Key Sustainable Development Goals 2030," FIIB Business Review, , vol. 12(1), pages 31-48, March.
    4. Justin Ehrlich & Simon Medcalfe & Shane Sanders, 2024. "Constructing and validating a best-fit economic well-being index for urban U.S. counties: a Tiebout model approach," Public Choice, Springer, vol. 199(1), pages 45-63, April.

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