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  • 1
    Language: English
    Pages: 1 Online-Ressource (27 pages)
    Parallel Title: Erscheint auch als Decerf, Benoit Lives, Livelihoods, and Learning: A Global Perspective on the Well-Being Impacts of the COVID-19 Pandemic
    Keywords: Communicable Diseases ; Covid ; Education ; Health and Poverty ; Health, Nutrition and Population ; Learning ; Mortality ; Poverty ; School Health ; Welfare
    Abstract: This study compares the magnitude of national level losses that the COVID-19 pandemic inflicted across three critical dimensions: loss of life, loss of income, and loss of learning. The well-being consequences of excess mortality are expressed in years of life lost, while those of income losses and school closures are expressed in additional years spent in poverty (as measured by national poverty lines), either currently or in the future. While 2020-21 witnessed a global drop in life expectancy and the largest one-year increase in global poverty in many decades, widespread school closures may cause almost twice as large an increase in future poverty. The estimates of well-being loss for the average global citizen include a loss of almost three weeks of life (19 days), an additional two and half weeks spent in poverty in 2020 and 2021 (17 days), and the possibility of an additional month of life in poverty in the future due to school closures (31 days). Well-being losses are not equitably distributed across countries. The typical high-income country suffered more total years of life lost than additional years in poverty, while the opposite holds for the typical low- or middle-income country. Aggregating total losses requires the valuation of a year of life lost vis-a-vis an additional year spent in poverty. If a year of life lost is valued at five or fewer additional years spent in poverty, low-income countries suffered greater total well-being loss than high-income countries. For a wide range of valuations, the greatest well-being losses fell on upper-middle-income countries and countries in the Latin America region. This set of countries suffered the largest mortality costs as well as large losses in learning and sharp increases in poverty
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  • 2
    Language: English
    Pages: 1 Online-Ressource (122 pages)
    Series Statement: Europe and Central Asia Economic Update
    Parallel Title: Erscheint auch als
    Keywords: Cost-Of-Living ; Economic Forecasts ; Growth ; Inflation ; Policy Recommendations ; Poverty ; Uncertainty ; Vulnerability
    Abstract: Economic growth slowed sharply last year in Europe and Central Asia, as Russia's invasion of Ukraine, a surge in inflation, and the sharp tightening of monetary policy and financing conditions hit private consumption, investment, and trade. The marked increase in food and energy prices boosted inflation to a pace not seen in 20 years. The burden of inflation was spread unevenly across households. The poorest households faced inflation that was more than 2 percentage points higher than the inflation faced by the richest households, with this difference exceeding 5 percentage points in some countries. Poverty and inequality rates derived from household-specific inflation rates differ from those based on the standard consumer price index (CPI) approach. These differences have important policy implications, because many programs use CPI-based inflation adjustments, which do not accurately capture changes in the cost of living of targeted populations. Output growth in the region is projected to remain little changed in 2023 but better than projected in January 2023, largely reflecting upgrades to the pace of expansion in Poland, Russia, and Turkiye
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  • 3
    Language: English
    Pages: 1 Online-Ressource (40 pages)
    Parallel Title: Erscheint auch als Baland, Jean-Marie Poverty-Adjusted Life Expectancy: A Consistent Index of the Quantity and the Quality of Life
    Keywords: Country Comparison ; Health and Poverty ; Health, Nutrition and Population ; Human Development Index ; Mortality ; Multidimensional Poverty ; Poverty ; Poverty Monitoring and Analysis ; Poverty Reduction ; Poverty-Adjusted Life Expectancy Index ; Social Analysis ; Social Development ; Well-Being Index
    Abstract: Poverty and mortality are arguably the two major sources of loss of well-being. Most mainstream measures of human development capturing these two dimensions aggregate them in an ad-hoc and controversial way. This paper develops a new index aggregating the poverty and the mortality observed in a given period in a consistent way. It is called the poverty-adjusted life expectancy index. This index is based on a single normative parameter that transparently captures the trade-off between well-being losses from being poor or from being dead. The paper first shows that the poverty-adjusted life expectancy index follows naturally from an expected life-cycle utility approach a la Harsanyi. The paper then proceeds to empirical comparisons between countries and across time and focuses on situations in which poverty and mortality provide conflicting evaluations. Once it is assumed that being poor is (at least weakly) preferable to being dead, the analysis finds that about a third of these conflicting comparisons can be unambiguously ranked by the poverty-adjusted life expectancy index. Finally, the paper shows that this index naturally defines a new and simple index of multidimensional poverty, the expected deprivation index
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