Search results for "Income Distribution"
showing 10 items of 55 documents
Pensions, Economic Growth and Welfare in Advanced Economies
2020
In this chapter, we analyse the effects of PAYG and funded pension systems on welfare. The debate on the choice between alternative systems focuses on their effects on savings, capital accumulation, labour supply, economic growth and inequality and the potential benefits of mixed systems in which a PAYG system with notional accounts is complemented by a funded pensions system. The main findings are as follows. Firstly, the redistribution of income among individuals makes the PAYG system an important part of any mixed system. Secondly, the design of the pension system should efficiently balance incentives and distortions with equality and insurance against individual idiosyncratic risks. Thi…
Fiscal adjustments and income inequality: a first assessment
2012
Using a statistical approach to identify fiscal adjustments, we find that fiscal consolidation appears to shorten the income gap. Fiscal austerity plans that succeed in bringing public debt to a sustainable path seem to be more likely to reduce inequality. Expansionary fiscal adjustments are particularly important to promote changes in the income distribution.
Income inequality, fiscal stimuli and political (in)stability
2016
Using data for a large panel of countries, this paper investigates the role played by income inequality and fiscal stimuli episodes in shaping the likelihood of political stability. By means of Tobit estimations, we show that a rise in inequality increases the probability of government crises. However, such adverse distributional effect is reduced when expansionary or increasingly expansionary fiscal stimuli episodes or successful fiscal stimuli programs are put in place.
Financial Reforms and Income Inequality
2012
Available online 8 June 2012
Intertemporal and interprovincial variations in income inequality: Spain, 1973–1991
2002
Goerlich F. J. and Mas M. (2002) Intertemporal and interprovincial variations in income inequality: Spain, 1973–1991, Reg. Studies 36, 1005–1015. The paper presents the main findings on personal income distribution for the Spanish provinces over the period 1973–91. The information comes from the three structural Household Budget Surveys and has been elaborated by the authors on a homogeneous base (available at: http://www.ivie.es). It starts by reviewing the information provided by some dispersion statistics, including kernel density functions, applied to the provincial Gini indices and Lorenz percentiles. It goes on to test, making use of an ANOVA model, two propositions related with inter…
The Role of Intraindustry Trade in Interregional Trade in the Midwest of the US
2007
The subject of international trade among countries has long been of concern to policy makers and academics alike. As economic activity has become more and more international in scope, the potential impact of international trade on regional economic growth and income distribution has become central to many studies. Within economics, the study of industrial organization, particularly with respect to imperfect competition and economies of scale and agglomeration, has influenced developments in international trade theory in the past few decades. In identifying the determinants of trade among countries, issues such as market size, relative level of Gross National Product (GNP) per capita, market…
A complete system of Engel curves in the Spanish economy
2003
The main goal of this article is the estimation of the consumption–income relationship along with socio–economic factors using cross section data from the Spanish Household Expenditure Survey 1991. The data has been grouped according to exogenous criteria to avoid the problem of null expenditure. First, a non–linear system of equation is estimated, from which the linear form that best fits the used data is tested. Finally, income elasticities are calculated considering three alternative formulations depending on how an initial income increment is distributed among consumers. Income elasticities are shown for the whole income distribution
Is ex‐ante ex‐post analysis irrelevant to Keynes's theory of employment?
2004
Ex‐ante ex‐post analysis has become a standard tool in macroeconomics. Yet Keynes dismissed it. We argue that Keynes's dismissal of ex‐ante ex‐post analysis is not an oddity but an indication of the originality of his theory of employment compared to standard macroeconomics. First, the principle of effective demand does not amount to a process that determines employment and income at the point of intersection of the traditionally defined ex ante supply and demand functions. Second, the finance motive allowed Keynes to confirm the identity of aggregate supply and demand already asserted in The General Theory. This latter conclusion is puzzling, however, since the principle of effective deman…
Income Equality and Income Taxation
1994
In every society the distribution of income plays an essential role — not only for economists but also for social scientists and politicians. Most people agree that the laissez-faire allo-cation is not equitable but that some redistribution using taxes has to take place. Most of the literature has supposed that a Bergson- Samuelson social welfare function is the appropriate tool for capturing social values in such analyses. However, there are some objections against this approach. First, interpersonal comparability of the individual utilities is needed — an extremely strong and questionable claim. Second, most writers have worked with a concave transformation of individual cardinal utilitie…
Welfare State Development, Individual Deprivations and Income Inequality: A cross-country analysis in Latin America and the Caribbean
2019
Several scholars have confirmed the role that the welfare state (WS) plays in reducing poverty, promoting equality and ensuring the common wellbeing. One of the limitations of the scholarship has been the conceptualization and operationalization of the WS and poverty as one-dimensional variables. The purpose of this paper is to examine the relationship between welfare state development –as a one-dimensional and multidimensional variable-, single-dimensions deprivations and income inequality in Latin America and the Caribbean, before and after controlling for demographic and cyclical factors. The WS is operationalized taking into account its multidimensional nature. Three individual deprivat…