Bergstrand / Cosimano / Houck The Changing Distribution of Income in an Open U.S. Economy

1. Auflage 2015
ISBN: 978-1-4832-9626-5
Verlag: Elsevier Science & Techn.
Format: PDF
Kopierschutz: 1 - PDF Watermark

E-Book, Englisch, Band Volume 223, 412 Seiten, Web PDF

Reihe: Contributions to Economic Analysis

There have been dramatic changes in the distribution of earnings and income in the United States during recent years. This volume presents original papers, contributed by eminent economists, on the measurement and causes of growing income inequality in the U.S. and other major industrialized countries. The first part examines the definition of income, decomposition of earnings into capacity and capacity utilization rates, and alternative methodologies for estimating income and earnings dispersion. The second part investigates theoretically or empirically alternative causes of income inequality: international trade, macroeconomic conditions and policies, technological progress, productivity growth, institutions, demographic labor supply, and sectoral labor demand. In the final part of the volume policy implications and recommendations are discussed.The volume will be valuable for academic departments (economics, political science, sociology); economic policy institutes and Federal Reserve Bank research departments; economists in government.

Autoren/Hrsg.

Bergstrand, J. H.

Cosimano, T. F.

Houck, J. W.

Sheehan, R. G.

Inhaltsverzeichnis

1;Front Cover;1
2;The Changing Distribution of Income in an Open U.S. Economy;4
3;Copyright Page;5
4;Table of Contents;10
5;Preface;8
6;List of Figures;18
7;List of Tables;22
8;List of Conference Speakers;26
9;PART 1: ISSUES IN THE MEASUREMENT OF INCOME INEQUALITY;28
9.1;CHAPTER 1. THE SCOPE, GROWTH, AND CAUSES OF INCOME INEQUALITY IN AN OPEN U.S. ECONOMY;30
9.1.1;1.1 Introduction;30
9.1.2;1.2 Issues in the Measurement of Income Inequality;34
9.1.3;1.3 Issues in the Causes of Income Inequality;41
9.1.4;1.4 Policy Implications and Recommendations;49
9.1.5;1.5 Conclusions;53
9.1.6;Endnotes;54
9.1.7;References;54
9.2;CHAPTER 2. LEVELS OF AND CHANGES IN THE DISTRIBUTION OF U.S. INCOME;56
9.2.1;2.1 Introduction;56
9.2.2;2.2 Methodological Issues;63
9.2.3;2.3 The Distribution of Earnings;75
9.2.4;2.4 Social, Demographic, and Economic Factors Related to the Changing Distribution of Income;79
9.2.5;2.5 Future Research;86
9.2.6;Endnotes;87
9.2.7;References;89
9.3;CHAPTER 3. A DOMINANCE EVALUATION OF DISTRIBUTIONS OF INCOME AND THE BENEFITS OF ECONOMIC GROWTH;92
9.3.1;3.1 Introduction;92
9.3.2;3.2 The Dominance Method;94
9.3.3;3.3 Dominance Comparisons and the U.S. Income Distribution;108
9.3.4;3.4 The Distribution of the Benefits of U.S. Economic Growth;113
9.3.5;3.5 Why Has the Distribution of the Benefits of Growth Changed?;122
9.3.6;3.6 Conclusion;123
9.3.7;Endnotes;124
9.3.8;References;127
9.4;CHAPTER 4. THE GROWTH IN MALE EARNINGS INEQUALITY, 1973-1988: THE ROLE OF EARNINGS CAPACITY AND UTILIZATION;132
9.4.1;4.1 Introduction;132
9.4.2;4.2 A Brief Literature Review;136
9.4.3;4.3 Patterns of Male Earnings Inequality, 1973-1988;141
9.4.4;4.4 Patterns of Earnings Capacity Inequality, 1973-1988;143
9.4.5;4.5 Patterns of Earnings Capacity Utilization, 1973-1988;148
9.4.6;4.6 Sources of Increased Earnings Inequality, 1973-1988;151
9.4.7;4.7 Conclusions;153
9.4.8;Endnotes;156
9.4.9;References;161
9.4.10;Appendix A;163
9.4.11;Appendix B1;166
9.4.12;Appendix B2;167
9.4.13;Appendix B3;168
9.4.14;Appendix B4;169
9.4.15;Appendix C;170
9.5;CHAPTER 5. DIMENSIONS OF INEQUALITY IN LABOR INCOME;172
9.5.1;5.1 Introduction;172
9.5.2;5.2 The Data;175
9.5.3;5.3 The Metrics for Earnings Comparisons;176
9.5.4;5.4 Trends in Earnings of White Men;178
9.5.5;5.5 Relative Earnings of White Women, Black Men, and Black Women;182
9.5.6;5.6 Earnings Differentials Between High School and College Graduates and By Time Since Leaving School;187
9.5.7;5.7 Summary;193
9.5.8;Endnotes;195
9.5.9;References;197
9.5.10;Appendix;198
10;PART 2: ISSUES IN THE CAUSES OF INCOME INEQUALITY;208
10.1;CHAPTER 6. USING REGIONAL DATA TO REEXAMINE THE CONTRIBUTION OF DEMOGRAPHIC AND SECTORAL CHANGES TO INCREASING U.S. WAGE INEQUALITY;210
10.1.1;6.1 Introduction;210
10.1.2;6.2 CPS Wage Data;212
10.1.3;6.3 Regional Differences In Wage Inequality;213
10.1.4;6.4 Decomposition Analysis;223
10.1.5;6.5 Regression Analysis;229
10.1.6;6.6 Conclusions;237
10.1.7;Endnotes;239
10.1.8;References;241
10.2;CHAPTER 7. THE RELATIONSHIP BETWEEN WAGE INEQUALITY AND INTERNATIONAL TRADE;244
10.2.1;7.1 Introduction;244
10.2.2;7.2 Data;246
10.2.3;7.3 Time-Series Evidence;247
10.2.4;7.4 A Model of the Link between Wages and Rents;257
10.2.5;7.5 Trends in Labor Compensation in Some Key Industries;261
10.2.6;7.6 Summary;264
10.2.7;Endnotes;264
10.2.8;References;265
10.3;CHAPTER 8. A MACROECONOMETRIC MODEL OF INCOME INEQUALITY IN THE UNITED STATES;270
10.3.1;8.1 Introduction;270
10.3.2;8.2 The Increase in Income Inequality in the 1980s;271
10.3.3;8.3 Methodology and Variables Considered;272
10.3.4;8.4 Empirical Results;277
10.3.5;8.5 Historical Decompositions;292
10.3.6;8.6 Summary and Concluding Remarks;300
10.3.7;Endnotes;301
10.3.8;References;302
10.4;CHAPTER 9. TECHNOLOGICAL PROGRESS AND INCOME INEQUALITY: A MODEL WITH HUMAN CAPITAL AND BEQUESTS;306
10.4.1;9.1 Introduction;306
10.4.2;9.2 The Model;308
10.4.3;9.3 Income-Distribution Effects of Technological Innovations;313
10.4.4;9.4 Concluding Remarks;316
10.4.5;References;317
10.4.6;Appendix A;319
10.4.7;Appendix .;320
10.4.8;Appendix C;321
10.4.9;Appendix D;321
10.5;CHAPTER 10. PRODUCTIVITY AND INCOME INEQUALITY GROWTH RATES IN THE UNITED STATES;326
10.5.1;10.1 Introduction;326
10.5.2;10.2 Relationships Between Income Inequality and Productivity;329
10.5.3;10.3 Data and Methodology;330
10.5.4;10.4 Empirical Results;336
10.5.5;10.5 Concluding Remarks;345
10.5.6;References;351
11;PART 3: POLICY IMPLICATIONS AND RECOMMENDATIONS;356
11.1;CHAPTER 11. OLD THEORIES IN NEW BOTTLES: TOWARD AN EXPLANATION OF GROWING WORLD-WIDE INCOME INEQUALITY;358
11.1.1;11.1 Introduction;358
11.1.2;11.2 The Emerging Consensus around Inequality Trends;359
11.1.3;11.3 Possible Explanations for the Trends in the Wage Distribution;360
11.1.4;11.4 Sorting Out the Explanations;361
11.1.5;11.5 Heckscher-Ohlin Factor-Price-Equalization Theory;363
11.1.6;11.6 Evidence for the Heckscher-Ohlin Effect;364
11.1.7;11.7 Policies to Combat Growing Inequality;365
11.1.8;References;367
11.2;CHAPTER 12. GENERAL ECONOMIC THEORY AND INCOME INEQUALITY;370
11.2.1;12.1 Introduction;370
11.2.2;12.2 Income and Earnings;370
11.2.3;12.3 Transaction Costs;371
11.2.4;12.4 Dynamic Theories;372
11.3;CHAPTER 13. HAVE WE UNDERINVESTED IN EDUCATION?;376
11.3.1;13.1 Introduction;376
11.3.2;13.2 The Ideal Experiment;377
11.3.3;13.3 Intra-Family Schooling-Income Relations: Fathers, Sons, Brothers, Twins;377
11.3.4;13.4 Have We Underinvested in Education?;378
11.3.5;13.5 How Do We Finance Educational Investments?;379
11.3.6;Endnote;380
11.3.7;References;380
11.4;CHAPTER 14. THE CHANGING DISTRIBUTION OF INCOME IN AN OPEN U.S. ECONOMY: FINDINGS AND LESSONS;382
11.4.1;14.1 Introduction;382
11.4.2;14.2 Causes of Income Inequality;383
11.4.3;14.3 Important Questions;384
11.4.4;14.4 Policy Implications;385
11.5;CHAPTER 15. SUMMARY AND CONCLUSIONS;388
11.5.1;15.1 Introduction;388
11.5.2;15.2 Measurement Issues;390
11.5.3;15.3 Behavior of Inequality Measures;394
11.5.4;15.4 Determinants of Changes in Inequality;396
11.5.5;15.5 Policy Implications;405
11.5.6;Endnotes;406
11.5.7;References;406
12;Index;408