Consumer (economic) well-being

General DSGE Modeling
1

Dear all,

From my deterministic DSGE model, I measure the (economic) well-being of households by computing the steady-state consumption equivalent of utility over time.

While with a partial equilibrium model, consumer surplus is the way for measuring this well-being, is there any other measures I should look at for consumer well-being? Or is this SS consumption equivalent of utility the only way to measure well-being/welfare in DSGE models?

Thank you.

2

It depends on your model. But if the consumers are the only agents, then their welfare is the appropriate measure.