01924cas a2200253 a 4500 AALejournalIMF018104 230101c9999 xx r poo 0 0eng d 5.00 USD 9781484331514 1018-5941 BD-DhAAL BD-DhAAL Bannister, Geoffrey. Welfare vs. Income Convergence and Environmental Externalities / Geoffrey Bannister, Alex Mourmouras. Washington, D.C. : International Monetary Fund, 2017. 1 online resource (32 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students We present estimates of welfare by country for 2007 and 2014 using the methodology of Jones and Klenow (2016) which incorporates consumption, leisure, mortality and inequality, and we extend the methodology to include environmental externalities. During the period of the global financial crisis welfare grew slightly more rapidly than income per capita, mainly due to improvements in life expectancy. This led to welfare convergence in most regions towards advanced country levels. Introducing environmental effects changes the welfare ranking for countries that rely heavily on natural resources, highlighting the importance of the natural resource base in welfare. This methodology could provide a theoretically consistent and tractable way of monitoring progress in several Sustainable Development Goal (SDG) indicators. Mode of access: Internet Mourmouras, Alex. IMF Working Papers; Working Paper ; No. 2017/271 Full text available on IMF http://elibrary.imf.org/view/journals/001/2017/271/001.2017.issue-271-en.xml IMF e-Library