Income Distribution In Macroeconomic Models

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Income Distribution in Macroeconomic Models

Giuseppe Bertola,Reto Foellmi,Josef Zweimüller
Income Distribution in Macroeconomic Models Book PDF

Author : Giuseppe Bertola,Reto Foellmi,Josef Zweimüller
Publisher : Princeton University Press
Page : 439 pages
File Size : 52,6 Mb
Release : 2014-09-28
Category : Business & Economics
ISBN : 9780691164595

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Income Distribution in Macroeconomic Models by Giuseppe Bertola,Reto Foellmi,Josef Zweimüller Pdf

This book looks at the distribution of income and wealth and the effects that this has on the macroeconomy, and vice versa. Is a more equal distribution of income beneficial or harmful for macroeconomic growth, and how does the distribution of wealth evolve in a market economy? Taking stock of results and methods developed in the context of the 1990s revival of growth theory, the authors focus on capital accumulation and long-run growth. They show how rigorous, optimization-based technical tools can be applied, beyond the representative-agent framework of analysis, to account for realistic market imperfections and for political-economic interactions. The treatment is thorough, yet accessible to students and nonspecialist economists, and it offers specialist readers a wide-ranging and innovative treatment of an increasingly important research field. The book follows a single analytical thread through a series of different growth models, allowing readers to appreciate their structure and crucial assumptions. This is particularly useful at a time when the literature on income distribution and growth has developed quickly and in several different directions, becoming difficult to overview.

Income Distribution, Inflation, and Growth

Lance Taylor
Income Distribution Inflation and Growth Book PDF

Author : Lance Taylor
Publisher : MIT Press
Page : 316 pages
File Size : 47,6 Mb
Release : 1991
Category : Business & Economics
ISBN : 026270045X

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Income Distribution, Inflation, and Growth by Lance Taylor Pdf

Structuralist macroeconomics has emerged recently as the only viable theoretical alternative for economists and practitioners in developing countries. Lance Taylor's innovative work represents a landmark in this field. It codifies a new generation of structuralist macroeconomic models that incorporate the economic power relationships of key institutions and groups, integrates both finance and real macroeconomics, and covers a diverse range of experience in the developing world over the past three decades. In an introduction Taylor explains his methodology, describes assumptions underlying the models used, and reviews theories that relate economic growth and the role of financial assets. He then takes up basic structuralist models of a closed economy and moves on to consider the open economy cases. He incorporates the latest developments in the field (inflation, financial crisis, exchange rate management, increasing returns, and the like) in a treatment that departs substantially from economic orthodoxy. Taylor first addresses the question of how to specify "closure" or define the causal structure of macro models. He also considers how income redistribution influences growth and output and how income redistribution interacts with inflation. Next, an investment-driven non-full employment growth model draws on ideas introduced earlier to illustrate how different sorts of macroeconomic policies affect short-run adjustment and growth prospects over time. Taylor then turns to the problems proposed by economic openness in a stylized semi-industrialized country, starting with international trade. A fix-price/flex-price model is developed, and additional models demonstrate cases of policy relevance as well as interactions between class conflict and growth.

Modeling Income Distributions and Lorenz Curves

Duangkamon Chotikapanich
Modeling Income Distributions and Lorenz Curves Book PDF

Author : Duangkamon Chotikapanich
Publisher : Springer Science & Business Media
Page : 322 pages
File Size : 43,6 Mb
Release : 2008-09-16
Category : Business & Economics
ISBN : 9780387727967

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Modeling Income Distributions and Lorenz Curves by Duangkamon Chotikapanich Pdf

Jean-Jacques Rousseau wrote in the Preface to his famous Discourse on Inequality that “I consider the subject of the following discourse as one of the most interesting questions philosophy can propose, and unhappily for us, one of the most thorny that philosophers can have to solve. For how shall we know the source of inequality between men, if we do not begin by knowing mankind?” (Rousseau, 1754). This citation of Rousseau appears in an article in Spanish where Dagum (2001), in the memory of whom this book is published, also cites Socrates who said that the only useful knowledge is that which makes us better and Seneca who wrote that knowing what a straight line is, is not important if we do not know what rectitude is. These references are indeed a good illustration of Dagum’s vast knowledge, which was clearly not limited to the ?eld of Economics. For Camilo the ?rst part of Rousseau’s citation certainly justi?ed his interest in the ?eld of inequality which was at the centre of his scienti?c preoccupations. It should however be stressed that for Camilo the second part of the citation represented a “solid argument in favor of giving macroeconomic foundations to microeconomic behavior” (Dagum, 2001). More precisely, “individualism and methodological holism complete each other in contributing to the explanation of individual and social behavior” (Dagum, 2001).

Adjustment and Income Distribution

François Bourguignon,William H. Branson,Jaime De Melo
Adjustment and Income Distribution Book PDF

Author : François Bourguignon,William H. Branson,Jaime De Melo
Publisher : Unknown
Page : 48 pages
File Size : 55,7 Mb
Release : 1989
Category : Developing countries
ISBN : UCSD:31822004969218

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Adjustment and Income Distribution by François Bourguignon,William H. Branson,Jaime De Melo Pdf

This paper presents a structural macro simulation model to quantify the effects of alternative stabilization packages on the distribution of income and wealth. The model combines the explicit microeconomic optimizing behavior characteristic of computable general equilibrium models with asset portfolio behavior of macroeconomic models in Tobin's tradition. In this model there are four main mechanisms by which policy changes affect the distribution of income and wealth. First changes in factor rewards affect directly household income distribution. Second, household real incomes are affected by changes in their respective cost of living indexes. Third, household real incomes are affected by changes in real returns on financial assets since household incomes include income from financial holdings. Fourth, household wealth distribution is affected by capital gains and losses. Simulations with' the model are carried out for a representative economy subject to the interest rate and terms-of-trade shocks of the early 1980s. The simulations suggest a large adverse impact on the distribution of income of a sharp contractionary package. The resulting distributional shifts are likely to endanger the sustainability of the package even though the distribution of income becomes more equal when normal policies are resumed. By contrast, the targeted expenditure cut programs advocated by the critics of contractionary packages result in a much less unequal distribution of income during the adjustment package, even though the distributional improvements of the targeted package are mostly reversed in the post-adjustment period. The simulations support the view that stabilization packages which do not have specific components targeted towards the poor will have a noticeable adverse effect on the distribution of income, which is likely to result in some form of permanent damage for those below the poverty line.

Economic Inequality and Income Distribution

D. G. Champernowne,F. A. Cowell
Economic Inequality and Income Distribution Book PDF

Author : D. G. Champernowne,F. A. Cowell
Publisher : Cambridge University Press
Page : 432 pages
File Size : 41,5 Mb
Release : 1998
Category : Business & Economics
ISBN : 0521589592

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Economic Inequality and Income Distribution by D. G. Champernowne,F. A. Cowell Pdf

Economic inequality has become a focus of prime interest for economic analysts and policy makers. This book provides an integrated approach to the topics of inequality and personal income distribution. It covers the practical and theoretical bases for inequality analysis, applications to real world problems and the foundations of theoretical approaches to income distribution. It also analyses models of the distribution of labour earnings and of income from wealth. The long-run development of income - and wealth - distribution over many generations is also examined. Special attention is given to an assessment of the merits and weaknesses of standard economic models, to illustrating the implications of distributional mechanisms using real data and illustrative examples, and to providing graphical interpretation of formal arguments. Examples are drawn from US, UK and international sources.

The Distribution of Income and Wealth

Fabio Clementi,Mauro Gallegati
The Distribution of Income and Wealth Book PDF

Author : Fabio Clementi,Mauro Gallegati
Publisher : Springer
Page : 177 pages
File Size : 43,9 Mb
Release : 2015-12-21
Category : Business & Economics
ISBN : 9783319274102

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The Distribution of Income and Wealth by Fabio Clementi,Mauro Gallegati Pdf

This book presents a systematic overview of cutting-edge research in the field of parametric modeling of personal income and wealth distribution, which allows one to represent how income/wealth is distributed within a given population. The estimated parameters may be used to gain insights into the causes of the evolution of income/wealth distribution over time, or to interpret the differences between distributions across countries. Moreover, once a given parametric model has been fitted to a data set, one can straightforwardly compute inequality and poverty measures. Finally, estimated parameters may be used in empirical modeling of the impact of macroeconomic conditions on the evolution of personal income/wealth distribution. In reviewing the state of the art in the field, the authors provide a thorough discussion of parametric models belonging to the “κ-generalized” family, a new and fruitful set of statistical models for the size distribution of income and wealth that they have developed over several years of collaborative and multidisciplinary research. This book will be of interest to all who share the belief that problems of income and wealth distribution merit detailed conceptual and methodological attention.

Income Distribution

Fred Campano,Dominick Salvatore
Income Distribution Book PDF

Author : Fred Campano,Dominick Salvatore
Publisher : Oxford University Press on Demand
Page : 185 pages
File Size : 41,6 Mb
Release : 2006-02-02
Category : Business & Economics
ISBN : 9780195300918

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Income Distribution by Fred Campano,Dominick Salvatore Pdf

'Income Distribution' was written primarily as a textbook intended for undergraduate economics majors. Each chapter is logically connected with the preceding chapters, providing a general overview of income distribution and its applications.

Income Distribution Theory

Martin Bronfenbrenner
Income Distribution Theory Book PDF

Author : Martin Bronfenbrenner
Publisher : Routledge
Page : 487 pages
File Size : 51,6 Mb
Release : 2017-09-05
Category : Business & Economics
ISBN : 9781351512824

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Income Distribution Theory by Martin Bronfenbrenner Pdf

This is a well-grounded restatement, defense, and development of the theory of income distribution in both its micro- and macroeconomic aspects. The author, an authority in the field who has spent many years developing the ideas in this book, balances neoclassical theories with Keynesian and ""radical"" approaches. He considers income distribution theory in terms of ideology, statistics, micro- and macroeconomics, income policies, and the poverty problem. The result is a distinctive and comprehensive treatment of a subject that has polarized many economists over many decades. Bronfenbrenner reacts against conventional theories that concentrate on output markets, virtually ignoring input prices. He also opposes the brand of institutionalism that regards ""democratic business unionism"" as an American institution that can do no wrong. Overall, Bronfenbrenner presents an eclectic defense of a ""traditional"" theory of economics that has been under attack from rival viewpoints with insufficient rebuttal, and that proves to be a powerful tool of analysis in dealing with this subject. The book is organized into three main parts: an ideological and statistical personal introduction to income distribution, microeconomic distribution theory, and macroeconomic distribution theory. A final chapter considers incomes policies, with a rather skeptical view of the prospects for political control of income distribution within a basically free economy. The manuscript has been widely used and class tested over the past thirty-five years. The book will be useful to professional economists. It may be used as a basic text in courses on income distribution and as a supplementary text in microeconomic theory.

Adjustment and Income Distribution

Francois Bourguignon,William H. Branson,Jaime de Melo
Adjustment and Income Distribution Book PDF

Author : Francois Bourguignon,William H. Branson,Jaime de Melo
Publisher : Unknown
Page : 0 pages
File Size : 50,6 Mb
Release : 2022
Category : Electronic
ISBN : OCLC:1375343736

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Adjustment and Income Distribution by Francois Bourguignon,William H. Branson,Jaime de Melo Pdf

This paper presents a structural macro simulation model to quantify the effects of alternative stabilization packages on the distribution of income and wealth. The model combines the explicit microeconomic optimizing behavior characteristic of computable general equilibrium models with asset portfolio behavior of macroeconomic models in Tobin's tradition. In this model there are four main mechanisms by which policy changes affect the distribution of income and wealth. First changes in factor rewards affect directly household income distribution. Second, household real incomes are affected by changes in their respective cost of living indexes. Third, household real incomes are affected by changes in real returns on financial assets since household incomes include income from financial holdings. Fourth, household wealth distribution is affected by capital gains and losses. Simulations with' the model are carried out for a representative economy subject to the interest rate and terms-of-trade shocks of the early 1980s. The simulations suggest a large adverse impact on the distribution of income of a sharp contractionary package. The resulting distributional shifts are likely to endanger the sustainability of the package even though the distribution of income becomes more equal when normal policies are resumed. By contrast, the targeted expenditure cut programs advocated by the critics of contractionary packages result in a much less unequal distribution of income during the adjustment package, even though the distributional improvements of the targeted package are mostly reversed in the post-adjustment period. The simulations support the view that stabilization packages which do not have specific components targeted towards the poor will have a noticeable adverse effect on the distribution of income, which is likely to result in some form of permanent damage for those below the poverty line.

The Impact of Macroeconomic Policies on Poverty and Income Distribution

François Bourguignon,Maurizio Bussolo,Luiz A. Pereira da Silva
The Impact of Macroeconomic Policies on Poverty and Income Distribution Book PDF

Author : François Bourguignon,Maurizio Bussolo,Luiz A. Pereira da Silva
Publisher : World Bank Publications
Page : 362 pages
File Size : 49,6 Mb
Release : 2008-01-01
Category : Political Science
ISBN : 9780821357798

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The Impact of Macroeconomic Policies on Poverty and Income Distribution by François Bourguignon,Maurizio Bussolo,Luiz A. Pereira da Silva Pdf

A companion to the bestseller, The Impact of Economic Policies on Poverty and Income Distribution, this title deals with theoretical challenges and cutting-edge macro-micro linkage models. The authors compare the predictive and analytical power of various macro-micro linkage techniques using the traditional RHG approach as a benchmark to evaluate standard policies, such as, a typical stabilization package and a typical structural reform policy.

The New Economic Model in Latin America and Its Impact on Income Distribution and Poverty

Victor Bulmer-Thomas
The New Economic Model in Latin America and Its Impact on Income Distribution and Poverty Book PDF

Author : Victor Bulmer-Thomas
Publisher : Springer
Page : 376 pages
File Size : 42,7 Mb
Release : 1996-03-25
Category : Business & Economics
ISBN : 9781349245208

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The New Economic Model in Latin America and Its Impact on Income Distribution and Poverty by Victor Bulmer-Thomas Pdf

The economies of Latin America have undergone a deep process of change in the last decade as a result of the application of major reforms. The outcome can be fairly described as a New Economic Model. This New Economic Model is distinguished from its predecessor, in force before the 1980s debt crisis, by an emphasis on market forces and export-led growth. This book explores the main features of the New Economic Model in Latin America and, through analysis of the reform process and case studies, examines its impact on income distribution and poverty.

Income Modeling and Balancing

Thomas Kämpke,Franz Josef Radermacher
Income Modeling and Balancing Book PDF

Author : Thomas Kämpke,Franz Josef Radermacher
Publisher : Springer
Page : 174 pages
File Size : 48,7 Mb
Release : 2015-02-12
Category : Business & Economics
ISBN : 9783319132242

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Income Modeling and Balancing by Thomas Kämpke,Franz Josef Radermacher Pdf

​This book presents a rigorous treatment of the mathematical instruments available for dealing with income distributions, in particular Lorenz curves and related methods. The methods examined allow us to analyze, compare and modify such distributions from an economic and social perspective. Though balanced income distributions are key to peaceful coexistence within and between nations, it is often difficult to identify the right kind of balance needed, because there is an interesting interaction with innovation and economic growth. The issue of justice, as discussed in Thomas Piketty’s bestseller “Capital in the Twenty-First Century” or in the important book “The Price of Inequality” by Nobel laureate Joseph Stiglitz, is also touched on. Further, there is a close connection to the issue of democracy in the context of globalization. One highlight of the book is its rigorous treatment of the so-called Atkinson theorem and some extensions, which help to explain under which type of societal utility functions nations tend to operate either in the direction of more balance or less balance. Finally, there are some completely new insights into changing the balance pattern of societies and the kind of coalitions between richer and poorer parts of society to organize political support in democracies in either case. Oxford University's Sir Tony Atkinson, well known for his so-called Atkinson theorem, writes in his foreword to the book: “[The authors] contribute directly to t he recent debates that are going on in politics. [...] with this book the foundation of arguments concerning a proper balance in income distribution in the sense of identifying an ‘efficient inequality range’ has got an additional push from mathematics, which I appreciate very much.”

Inflation and Income Distribution

Mr.Ales Bulir,Ms.Anne Marie Gulde
Inflation and Income Distribution Book PDF

Author : Mr.Ales Bulir,Ms.Anne Marie Gulde
Publisher : International Monetary Fund
Page : 30 pages
File Size : 49,8 Mb
Release : 1995-08-01
Category : Business & Economics
ISBN : 9781451850826

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Inflation and Income Distribution by Mr.Ales Bulir,Ms.Anne Marie Gulde Pdf

This paper examines the effects of inflation and associated financial instability on income distribution. Using both pooled cross country and single country time series models, the level of inflation, inflation variability, and the variability of the nominal exchange rate are shown to impact negatively on overall income equality. Looking at disaggregate measures of income distribution, the issue as to whether inflation is a progressive or regressive tax is found to be negatively correlated with the level of development and the sophistication of the financial structure. The paper argues that these results point towards financial variables as a partial way of rectifying the generally poor explanatory power of both cross-country and time series models of income distribution.

The Poverty and Distributional Impact of Macroeconomic Shocks and Policies

Boniface Essama-Nssah
The Poverty and Distributional Impact of Macroeconomic Shocks and Policies Book PDF

Author : Boniface Essama-Nssah
Publisher : World Bank Publications
Page : 78 pages
File Size : 40,6 Mb
Release : 2005
Category : Financial crises
ISBN : 9785081013248

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The Poverty and Distributional Impact of Macroeconomic Shocks and Policies by Boniface Essama-Nssah Pdf

"The importance of distributional issues in policymaking creates a need for empirical tools to assess the social impact of economic shocks and policies. This paper reviews some of the modeling approaches that are currently in use at the World Bank and other international financial institutions. The specification of these models is dictated by the issues at stake, the knowledge about the nature of the process involved, and the availability and reliability of relevant data. Furthermore, shocks and policies have macroeconomic, structural, and distributional implications. This creates interdependence between such policy issues. Finally, the distributional impact of shocks and policies hinges on the heterogeneity of socioeconomic agents with respect to endowments and behavior. In the end, each modeling approach should be judged on how well it handles the interdependence between policy issues and the heterogeneity of the stakeholders, given other constraints. " -- Cover verso.

Macroeconomic Inequality from Reagan to Trump

Lance Taylor
Macroeconomic Inequality from Reagan to Trump Book PDF

Author : Lance Taylor
Publisher : Cambridge University Press
Page : 145 pages
File Size : 55,5 Mb
Release : 2020-08-20
Category : Business & Economics
ISBN : 9781108494632

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Macroeconomic Inequality from Reagan to Trump by Lance Taylor Pdf

An innovative approach to measuring inequality providing the first full integration of distributional and macro level data for the US.