Horizontal Equity, Uncertainty, and Economic Well-being PDF Download
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Author: Martin David
Publisher: University of Chicago Press
ISBN: 0226137287
Category : Political Science
Languages : en
Pages : 536
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Book Description
The result of a National Bureau of Economic Research Income and Wealth conference held in December 1983, this volume looks at the concept of "economic well-being" and the ways that analysts have tried to measure it. In addition to income, economists have begun to consider such factors as pensions, wealth, health, and environment when measuring the well-being of a particular group. They have also begun to measure how consumers respond, successfully or unsuccessfully, to such economic uncertainties as inflation, divorce, and retirement. Using new data and techniques, the contributors to this book concentrate on issues of uncertainty and horizontal equity (the equal treatment of individuals within a defined group). Their work points to better ways of determining how various groups in a society are faring relative to other groups. Economists and policy analysts, therefore, will be in a better position to determine how government programs should be applied when well-being is used as a test.
Author: Robert H. Haveman
Publisher:
ISBN:
Category : Income distribution
Languages : en
Pages : 27
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Book Description
Author: Martin David
Publisher: University of Chicago Press
ISBN: 0226137287
Category : Political Science
Languages : en
Pages : 536
Get Book Here
Book Description
The result of a National Bureau of Economic Research Income and Wealth conference held in December 1983, this volume looks at the concept of "economic well-being" and the ways that analysts have tried to measure it. In addition to income, economists have begun to consider such factors as pensions, wealth, health, and environment when measuring the well-being of a particular group. They have also begun to measure how consumers respond, successfully or unsuccessfully, to such economic uncertainties as inflation, divorce, and retirement. Using new data and techniques, the contributors to this book concentrate on issues of uncertainty and horizontal equity (the equal treatment of individuals within a defined group). Their work points to better ways of determining how various groups in a society are faring relative to other groups. Economists and policy analysts, therefore, will be in a better position to determine how government programs should be applied when well-being is used as a test.
Author: James Feigenbaum
Publisher: DIANE Publishing
ISBN: 1437987435
Category : Business & Economics
Languages : en
Pages : 39
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Book Description
Studies the trend in household income uncertainty using a novel approach that measures income uncertainty as the variance of forecast errors at each future horizon separately without imposing parametric restrictions on the underlying income shocks. Household income uncertainty has risen significantly and persistently since the early 1970s. Their measure of near-future uncertainty in total family non-capital income rose 40% between 1971 and 2002. This rising uncertainty is likely due to the increase in variances of both persistent and transitory income shocks. The increase was most pronounced among single-earner households and high-income households. Charts and tables. This is a print on demand report.
Author: Mr.Michael Kumhof
Publisher: International Monetary Fund
ISBN: 1455210757
Category : Business & Economics
Languages : en
Pages : 39
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Book Description
The paper studies how high leverage and crises can arise as a result of changes in the income distribution. Empirically, the periods 1920-1929 and 1983-2008 both exhibited a large increase in the income share of the rich, a large increase in leverage for the remainder, and an eventual financial and real crisis. The paper presents a theoretical model where these features arise endogenously as a result of a shift in bargaining powers over incomes. A financial crisis can reduce leverage if it is very large and not accompanied by a real contraction. But restoration of the lower income group's bargaining power is more effective.
Author: Markus Brueckner
Publisher:
ISBN:
Category :
Languages : en
Pages : 29
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Book Description
This paper examines the relationship between trade uncertainty and income inequality. In countries where only a small share of the population is educated, an increase in trade uncertainty is associated with a significant increase in income inequality. As education of the population increases the relationship between trade uncertainty and income inequality becomes more muted. Trade uncertainty has no significant effect on income inequality in countries that are world leaders in education. Developing countries that want to reduce income inequality arising from trade uncertainty should therefore consider further improving their education system.
Author: Flavio Cunha
Publisher:
ISBN:
Category : Unskilled labor
Languages : en
Pages : 68
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Book Description
A large empirical literature documents a rise in wage inequality in the American economy. It is silent on whether the increase in inequality is due to greater heterogeneity in the components of earnings that are predictable by agents or whether it is due to greater uncertainty faced by agents. Applying the methodology of Cunha, Heckman and Navarro (2005) to data on agents making schooling decisions in different economic environments, we join choice data with earnings data to estimate the fraction of future earnings that is forecastable and how this fraction has changed over time. We find that both predictable and unpredictable components of earnings have increased in recent years. The increase in uncertainty is substantially greater for unskilled workers. For less skilled workers, roughly 60% of the increase in wage variability is due to uncertainty. For more skilled workers, only 8% of the increase in wage variability is due to uncertainty. Roughly 26% of the increase in the variance of returns to schooling is due to increased uncertainty. Using conventional measures of income inequality masks the contribution of rising uncertainty to the rise in the inequality of earnings for less educated groups.
Author: Richard Blundell
Publisher:
ISBN:
Category : Consumption (Economics)
Languages : en
Pages : 60
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Book Description
Author: Eliphas Ndou
Publisher: Springer
ISBN: 3030198030
Category : Business & Economics
Languages : en
Pages : 507
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Book Description
This book focuses on income inequality, output-inflation trade-off and economic policy uncertainty in South Africa. Tight monetary and macroprudential policies raise income inequality. Income inequality transmits monetary policy and macroprudential policy shocks to real economic activity. Economic policy uncertainty influences the dynamics in the lending rate margins, inflation expectations, credit, pass-through of the repo rate to bank lending rates and companies’ cash holdings. The trade-off between output and inflation and output growth persistence vary with inflation regimes. Stimulatory demand policy shocks are less effective in high inflation regime. High income inequality raises consumption inequality, which raises demand for credit, but price stability matters in this link. Increased bank concentration raises income inequality, lowers economic growth and employment rate. Elevated economic policy uncertainty lowers output growth, lowers capital formation, reduces credit and raises companies’ cash holdings. Increased companies’ cash holdings reduce capital formation and impact the transmission of expansionary monetary policy shocks to real economic activity. This book shows there is an inflation level within the target band below it which lowers income inequality, while raising GDP growth and employment. Thus price stability, economic policy uncertainty and income inequality matter for the efficient transmission of policy shocks.
Author: Manfred M. Fischer
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
Author: Rajib Bhattacharyya
Publisher: Springer Nature
ISBN: 9819944058
Category : Business & Economics
Languages : en
Pages : 356
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Book Description
The book intends to capture the most critical issue that has cropped up as an aftermath of the Corona pandemic- the phenomenon of widening of global inequalities across nations depending upon their economic position, support policies of the government and international relationship particularly in the context of alarming growth of unemployed in the labour market, business activity and social sector. This book is expected to provide new areas of research to both academicians and policy makers to re-think about global cooperation for bridging the inequalities for a better world. It tries to incorporate the valuable contribution of experts from various fields of knowledge in a consolidated volume. This text will be revised once the chapters are finalized and put together in structured themes. The table of content lists some of the chapters that have been confirmed, but there are more that are being invited by the editors.
