abstract: 'GDP, as a key parameter for macro-economic policy, has long been

  criticized. One of the better known monetary alternatives to GDP is the

  ISEW, a synthetic proxy of sustainable welfare. Theoretical and

  methodological limitations of this indicator have been identified and

  several refinements or extensions proposed, GPI for example. Building on

  these approaches, this article presents a new composite flow-oriented

  indicator directly comparable with GDP. The proposed Sustainable Welfare

  Index (SWI) is calculated for the Italian case over the 1960-2014

  period. The estimate of SWI over an extended period of fifty-four years,

  provides evidence for a previously undetected ``threshold effect{''''} in

  Italy by means of a flow-oriented indicator - unlike GDP, SWI per capita

  stops increasing in 1991. Empirical results show that the level of

  sustainable welfare in Italy stops growing mainly because of a rise in

  income inequality, a decline in non-paid domestic work and a worsening

  of the net fixed capital formation and net international investment

  position.'
affiliation: 'Armiento, M (Corresponding Author), Sapienza Univ Rome, Fac Econ, Via
  Castro Laurenziano 9, I-00161 Rome, Italy.

  Armiento, Mirko, Sapienza Univ Rome, Fac Econ, Via Castro Laurenziano 9, I-00161
  Rome, Italy.'
author: Armiento, Mirko
author-email: mirko.armiento@uniroma1.it
author_list:
- family: Armiento
  given: Mirko
da: '2023-09-28'
doi: 10.1016/j.ecolecon.2018.06.014
eissn: 1873-6106
files: []
issn: 0921-8009
journal: ECOLOGICAL ECONOMICS
keywords-plus: ECONOMIC WELFARE; ISEW; GPI; FOUNDATIONS; INDICATORS; STATE
language: English
month: OCT
number-of-cited-references: '61'
pages: 296-309
papis_id: 013b5994c1b7ab7417f066e876bcee0b
ref: Armiento2018sustainablewelfare
times-cited: '8'
title: 'The Sustainable Welfare Index: Towards a Threshold Effect for Italy'
type: Article
unique-id: WOS:000440118700028
usage-count-last-180-days: '0'
usage-count-since-2013: '19'
volume: '152'
web-of-science-categories: Ecology; Economics; Environmental Sciences; Environmental
  Studies
year: '2018'