Nonparametric Bounds on Welfare Measures PDF Download
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Author: John Crooker
Publisher:
ISBN:
Category :
Languages : en
Pages : 44
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Author: John Crooker
Publisher:
ISBN:
Category :
Languages : en
Pages : 44
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Author: Maxim Pinkovskiy
Publisher:
ISBN:
Category :
Languages : en
Pages : 62
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I take a new approach to measuring world inequality and welfare over time by constructing robust bounds for these series instead of imposing parametric assumptions to compute point estimates. I derive sharp bounds on the Atkinson inequality index that are valid for any underlying distribution of income conditional on given fractile shares and the Gini coefficient. While the bounds are too wide to reject the hypothesis that world inequality may have risen, I show that world welfare rose unambiguously between 1970 and 2006. This conclusion is valid for alternative methods of dealing with countries and years with missing surveys, alternative survey harmonization procedures, and alternative GDP series, or if the inequality surveys used systematically underreport the income of the very rich or suffer from nonresponse bias.
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Languages : en
Pages :
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Sharp nonparametric bounds are derived for Hicksian compensating and equivalent variations. These 'i-bounds' generalize earlier results of Blundell, Browning and Crawford (2008). We show that their e-bounds are sharp under the Weak Axiom of Revealed Preference (WARP). They do not require transitivity. The new i-bounds are sharp under the Strong Axiom of Revealed Preference (SARP). By requiring transitivity they can be used to bound welfare measures. The new bounds on welfare measures are shown to be operationalized through algorithms that are easy to implement.
Author:
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Category :
Languages : en
Pages : 28
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Author: Thomas M. Stoker
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Category :
Languages : en
Pages : 28
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Publisher: ScholarlyEditions
ISBN: 1490110607
Category : Political Science
Languages : en
Pages : 817
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Issues in Political Systems Research / 2013 Edition is a ScholarlyEditions™ book that delivers timely, authoritative, and comprehensive information about Nations and Nationalism. The editors have built Issues in Political Systems Research: 2013 Edition on the vast information databases of ScholarlyNews.™ You can expect the information about Nations and Nationalism in this book to be deeper than what you can access anywhere else, as well as consistently reliable, authoritative, informed, and relevant. The content of Issues in Political Systems Research: 2013 Edition has been produced by the world’s leading scientists, engineers, analysts, research institutions, and companies. All of the content is from peer-reviewed sources, and all of it is written, assembled, and edited by the editors at ScholarlyEditions™ and available exclusively from us. You now have a source you can cite with authority, confidence, and credibility. More information is available at http://www.ScholarlyEditions.com/.
Author: Xavier Jaravel
Publisher:
ISBN:
Category : Consumers' preferences
Languages : en
Pages : 52
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How should we measure long-run changes in consumer welfare? This paper proposes a nonparametric approach with arbitrary observable preference heterogeneity, e.g. when expenditure shares vary with income. Our approach only requires data on the consumption baskets of a cross-section of consumers facing a common set of prices. We take nominal expenditures under a constant set of prices as our money-metric for real consumption (welfare), and we derive a consistent measure of its growth in terms of a correction to the conventional quantity indices. Our correction accounts for the cross-sectional dependence of price indices on consumer income and any obserable source of preference heterogeneity. We use nonparametric methods to approximate these corrections and provide bounds on the resulting approximation errors that hold under arbitrary underlying preferences. Applying our methodology to the measurement of growth in real consumption per capita in the United States, we find a sizable correction to standard measures of growth in the postwar era -- a period of fast growth combined with substantial inflation gaps across income groups
Author: Mattias Boman
Publisher:
ISBN:
Category :
Languages : en
Pages : 49
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Author: Anthony B. Atkinson
Publisher: Elsevier
ISBN: 0444594760
Category : Business & Economics
Languages : en
Pages : 2370
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Book Description
What new theories, evidence, explanations, and policies have shaped our studies of income distribution in the 21st century? Editors Tony Atkinson and Francois Bourguignon assemble the expertise of leading authorities in this survey of substantive issues. In two volumes they address subjects that were not covered in Volume 1 (2000), such as education, health and experimental economics; and subjects that were covered but where there have been substantial new developments, such as the historical study of income inequality and globalization. Some chapters discuss future growth areas, such as inheritance, the links between inequality and macro-economics and finance, and the distributional implications of climate change. They also update empirical advances and major changes in the policy environment. - The volumes define and organize key areas of income distribution studies - Contributors focus on identifying newly developing questions and opportunities for future research - The authoritative articles emphasize the ways that income mobility and inequality studies have recently gained greater political significance
Author:
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ISBN:
Category : Agriculture
Languages : en
Pages : 718
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