Standard measures of economic performance must be overhauled to reflect “well-being” and to help policy-makers tackle financial instability and climate change, an international panel of economists will urge on Monday.

The commission, led by Joseph Stiglitz, was set up last year at the request of Nicolas Sarkozy, president of France, who was concerned about popular distrust of economic statistics. Mr Sarkozy will launch the commission’s report in Paris on Monday.