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Improving the Measurement of Consumer Expenditures

Author: Christopher D. Carroll

Publisher: University of Chicago Press

Published: 2015-06-16

Total Pages: 517

ISBN-13: 022612665X

Robust and reliable measures of consumer expenditures are essential for analyzing aggregate economic activity and for measuring differences in household circumstances. Many countries, including the United States, are embarking on ambitious projects to redesign surveys of consumer expenditures, with the goal of better capturing economic heterogeneity. This is an appropriate time to examine the way consumer expenditures are currently measured, and the challenges and opportunities that alternative approaches might present. Improving the Measurement of Consumer Expenditures begins with a comprehensive review of current methodologies for collecting consumer expenditure data. Subsequent chapters highlight the range of different objectives that expenditure surveys may satisfy, compare the data available from consumer expenditure surveys with that available from other sources, and describe how the United States’s current survey practices compare with those in other nations.

Hard-to-Measure Goods and Services

Author: Ernst R. Berndt

Publisher: University of Chicago Press

Published: 2009-02-15

Total Pages: 621

ISBN-13: 0226044505

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The celebrated economist Zvi Griliches’s entire career can be viewed as an attempt to advance the cause of accuracy in economic measurement. His interest in the causes and consequences of technical progress led to his pathbreaking work on price hedonics, now the principal analytical technique available to account for changes in product quality. Hard-to-Measure Goods and Services, a collection of papers from an NBER conference held in Griliches’s honor, is a tribute to his many contributions to current economic thought. Here, leading scholars of economic measurement address issues in the areas of productivity, price hedonics, capital measurement, diffusion of new technologies, and output and price measurement in “hard-to-measure” sectors of the economy. Furthering Griliches’s vital work that changed the way economists think about the U.S. National Income and Product Accounts, this volume is essential for all those interested in the labor market, economic growth, production, and real output.

Innocent Bystanders? Monetary Policy and Inequality in the U.S.

Author: Mr.Olivier Coibion

Publisher: International Monetary Fund

Published: 2012-08-01

Total Pages: 57

ISBN-13: 1475505493

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We study the effects and historical contribution of monetary policy shocks to consumption and income inequality in the United States since 1980. Contractionary monetary policy actions systematically increase inequality in labor earnings, total income, consumption and total expenditures. Furthermore, monetary shocks can account for a significant component of the historical cyclical variation in income and consumption inequality. Using detailed micro-level data on income and consumption, we document the different channels via which monetary policy shocks affect inequality, as well as how these channels depend on the nature of the change in monetary policy.

Unequal We Stand

Author: Jonathan Heathcote

Publisher: DIANE Publishing

Published: 2010-10

Total Pages: 61

ISBN-13: 1437934919

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The authors conducted a systematic empirical study of cross-sectional inequality in the U.S., integrating data from various surveys. The authors follow the mapping suggested by the household budget constraint from individual wages to individual earnings, to household earnings, to disposable income, and, ultimately, to consumption and wealth. They document a continuous and sizable increase in wage inequality over the sample period. Changes in the distribution of hours worked sharpen the rise in earnings inequality before 1982, but mitigate its increase thereafter. Taxes and transfers compress the level of income inequality, especially at the bottom of the distribution, but have little effect on the overall trend. Charts and tables. This is a print-on-demand publication; it is not an original.

Understanding Consumption

Author: Angus Deaton

Publisher: Oxford University Press

Published: 1992

Total Pages: 260

ISBN-13: 9780198288244

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An overview of the saving and consumption patterns of households

Inequality and Fiscal Policy

Author: Mr.Benedict J. Clements

Publisher: International Monetary Fund

Published: 2015-09-21

Total Pages: 450

ISBN-13: 1513567756

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The sizeable increase in income inequality experienced in advanced economies and many parts of the world since the 1990s and the severe consequences of the global economic and financial crisis have brought distributional issues to the top of the policy agenda. The challenge for many governments is to address concerns over rising inequality while simultaneously promoting economic efficiency and more robust economic growth. The book delves into this discussion by analyzing fiscal policy and its link with inequality. Fiscal policy is the government’s most powerful tool for addressing inequality. It affects households ‘consumption directly (through taxes and transfers) and indirectly (via incentives for work and production and the provision of public goods and individual services such as education and health). An important message of the book is that growth and equity are not necessarily at odds; with the appropriate mix of policy instruments and careful policy design, countries can in many cases achieve better distributional outcomes and improve economic efficiency. Country studies (on the Netherlands, China, India, Republic of Congo, and Brazil) demonstrate the diversity of challenges across countries and their differing capacity to use fiscal policy for redistribution. The analysis presented in the book builds on and extends work done at the IMF, and also includes contributions from leading academics.

Europe's Income, Wealth, Consumption, and Inequality

Author: Georg Fischer

Publisher: Oxford University Press

Published: 2020-10-01

Total Pages:

ISBN-13: 0197545726

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European integration is focused on improving economic performance and increasing income levels in nations across the European Union. Political leaders and the media often use income trends to measure this progress, with inequality moving more and more to the forefront of these conversations. In this book, contributing authors focus on the economies within the EU, its member countries, and other European countries closely associated with the EU. The book includes an overview of economic and social trends, using long-term processes of European integration as a way to frame the discussions. Georg Fischer, Robert Strauss, and their contributors focus on explaining how policy makers and the media focus on national trends to measure progress among the nations in Europe. They make a specific point to look at the EU as an economic and political entity whose parts are closely interlinked rather than as a conglomerate of individual countries. The contributors consider the commonalities and differences between various institutions and policies, explaining how a decision in one country might impact another. Europe's Income, Wealth, Consumption, and Inequality offers a novel approach to the analysis of social and economic trends, and the resulting book identifies major policy challenges applicable in the EU and beyond.

Inequality of Opportunity

Author: Juan Gabriel Rodríguez

Publisher: Emerald Group Publishing

Published: 2011-10-12

Total Pages: 259

ISBN-13: 1780520344

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Eight papers, both theoretical and applied, on the concept of equality of opportunity which says that a society should guarantee its members equal access to advantage regardless of their circumstances, while holding them responsible for turning that access into actual advantage by the application of effort.