TY  - BOOK
AU  - King, Anita
TI  - Living Standards analysis model : : the first prototype
SN  - 978-1-98-855677-2
PY  - 2018///
CY  - Wellington, New Zealand : 
PB  - New Zealand Treasury, 
KW  - ECONOMIC ANALYSIS
KW  - GOVERNMENT POLICY
KW  - Living Standards Analysis Model
KW  - Living Standards Framework
KW  - SOCIAL POLICY
KW  - WELLBEING
KW  - NEW ZEALAND
N1  - New Zealand Treasury Working Paper, 18/05, December 2018
N2  - How do we understand the synergies and trade-offs of a given policy on area beyond that policy, such as the effect of housing on health and on income? How do we choose between policies in completely different areas, such as an education policy and a health policy? Treasury’s Living Standards Framework provides one possible starting point, but it provides little assistance tracing the many dependencies between policy areas. A model that includes those dependencies could
help.

The Living Standards Analysis Model (LSAM) is designed to do this. A first prototype of the model has just been developed. This model includes all eleven aspects of wellbeing as described by the OECD’s How’s Life? framework and linkages between the different aspects for a small open economy. Most models for studying wellbeing only include one or two aspects, missing the rich set of interactions that can occur with greater coverage. As an early prototype, this version of the model does have many flaws and requires significant further development, but it forms a basis for creating an improved model as well as providing some qualitatively useful results. The model is loosely based on a stocks-and-flows type of model, with a small general equilibrium model covering the market economy part of the model. This paper is focussed on the description of the model. (Author's abstract). 

Access the website for other information and publications related to the development of the Living Standards Framework. Record #6139

UR  - https://treasury.govt.nz/publications/wp/wp-18-05
UR  - https://treasury.govt.nz/information-and-services/nz-economy/living-standards
ER  -