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Median Household Income and GDP
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This chapter investigates the extent to which real income growth for households around the middle is seen to diverge from growth in national income per head—the most widely-used metric for assessing overall macroeconomic performance. While the concentration of income gains at the top of the distribution examined in Chapter 3 is one potential explanation, it is by no means the only one. A range of distinct factors that may contribute are described and their importance assessed across countries and over time. The implications are brought out both for understanding what drives ordinary living standards and for how they are best monitored and assessed.
Title: Median Household Income and GDP
Description:
This chapter investigates the extent to which real income growth for households around the middle is seen to diverge from growth in national income per head—the most widely-used metric for assessing overall macroeconomic performance.
While the concentration of income gains at the top of the distribution examined in Chapter 3 is one potential explanation, it is by no means the only one.
A range of distinct factors that may contribute are described and their importance assessed across countries and over time.
The implications are brought out both for understanding what drives ordinary living standards and for how they are best monitored and assessed.
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