摘要:

This paper considers the impact upon measures of corporate income of a number of concepts of the maintenance of the existing capital of an incorporated trading enterprise. A main distinction is drawn between the maintenance of all the assets employed in trading and the maintenance of the net assets attributable to the owners. Measures of income and of rates of return to capital depend on whether all the assets, or only the net assets attributable to the owners, are being considered. There are three sections of the paper after an introduction. Section 2 is conceptual and section 3 illustrates the concepts, with figures for U.K. manufacturing industry in 1975 to 1977, in which the figures in company balance sheets are adjusted from book values to estimated replacement cost, and estimates are made of depreciation at replacement cost and of the consumption of stock (inventories) at replacement cost. These figures follow the concept of maintaining physical assests. I have added calculations which extend the concept of capital maintenance to all operating or trading assets, including monetary working capital; and which then calculate the amounts necessary to maintain the assets attributable to the owners of a business. The three main methods are: to apply a gearing adjustment to abate the additional capital maintenance provisions for operating assets (which are realized revaluations by reference to their original cost); to take into income additionally the geared (or debt financed) portion of unrealized revaluations; and‐what is conceptually much the same thing‐to count as the charge for debt only real interest (which may be negative) rather than nominal interest. Section 4 considers some problems of aggregation, particularly the derivation of aggregates for the sectors of the economy, when based on figures for individual enterprises using the various approaches to capital maintena

ISSN:0034-6586    

DOI:10.1111/j.1475-4991.1981.tb00206.x

出版商:Blackwell Publishing Ltd    

年代:1981

数据来源: WILEY

摘要:

This paper presents an analysis of the distributive impact of government expenditures in the United States. The analysis uses a household‐level microdata file drawn from the 1970 U.S. Census of Population, with additional income and tax variables drawn from the Internal Revenue Service 1969—70 Tax File.The results are presented at both federal and local levels and include analyses of the distribution of individual benefits, as well as of overall taxes and net benefits. Since a microdata file was used, distributional effects are examined with respect not only to the “traditional” variables of income class and household size, but also with regard to the number of earners in the household and the sex and race of the household head.In a further paper in a subsequent issue of this review we will present the results of a similar analysis for the United Kingdom, and compare the results for the two co

ISSN:0034-6586    

DOI:10.1111/j.1475-4991.1981.tb00207.x

出版商:Blackwell Publishing Ltd    

年代:1981

数据来源: WILEY

摘要:

The debate on how to deal with changes of relative prices in national accounts has, so far, remained inconclusive, especially with regard to the question of how to measure gains from changes of terms of trade. Keeping the experiences of the 1970s in mind (i.e. substantial changes of relative prices sparked off by increased oil prices), this state of affairs is not considered tenable.On this background, the paper takes up the old debate on how to deflate figures of domestic product, total as well as by industries. It tries to argue that deflated figures should be presented not only as real product figures by industries (using the double deflation method), but also as real income figures, obtained by deflating the current‐prices figures of a certain year by the same general price index. When this is done according to procedures spelled out in detail, gains/losses from changes of the terms of trade in foreign trade will show up as an integral part of the framework.In the paper, special attention is given to the concept of industry terms of trade. On the basis of simplifying assumptions (which are, however, relaxed in the final part of the paper), it is shown how the ratio of real income divided by real product of a certain industry will be proportionate to the terms of trade of the industry concerned, when the latter concept is defined in the appropriate way. Furthermore, the sum of the industry gains/losses from changes of their terms of trade will be equal to the gain/loss of the economy taken as a whole from changes of the terms of trade in foreign trad

ISSN:0034-6586    

DOI:10.1111/j.1475-4991.1981.tb00208.x

出版商:Blackwell Publishing Ltd    

年代:1981

数据来源: WILEY

摘要:

This article describes what happens to income distribution during intensive changes in gross domestic product due to external market conditions. It deals specifically with an open market petroleum‐based economy, Trinidad and Tobago, and reviews changes in national product and income levels and the income distribution pattern over the twenty year period 1957–76.The paper argues that during the period characterized by subperiods of steady growth and rapid growth in GDP (the latter associated with the petroleum price rise), income inequality increased between 1957 and 1972 and then decreased in the post petroleum‐price‐rise period of rapid growth 1973–76. While the effect of intensive changes in national product did trickle down to the lower income groups, income inequality in 1975–76 was greater than that existing in 1957–58. An examination of the spatial, occupational and temporal aspect of the distribution pattern points towards the elimination of structural dualism in the economy as the surest path towards greater income equality in Trinid

ISSN:0034-6586    

DOI:10.1111/j.1475-4991.1981.tb00209.x

出版商:Blackwell Publishing Ltd    

年代:1981

数据来源: WILEY

摘要:

In an important recent book dealing with the measurement of income inequality with particular reference to poverty,1Prof. N. Kakwani derives several poverty indices, investigates the effect of negative income tax schemes with the help of those indices and gives a numerical illustration based on Malaysian data.The aim of this note is to point out some logical flaws in his argument. Some of the ideas expressed in the part of his book we are concerned with have been disseminated for some time now2and referred to in subsequent literature;3yet their shortcomings do not seem to have attracted anyone's attention. The introductory section gives a concise presentation of the relevant part of Kakwani's contribution. The next two sections deal with some problems with his approach.

ISSN:0034-6586    

DOI:10.1111/j.1475-4991.1981.tb00210.x

出版商:Blackwell Publishing Ltd    

年代:1981

数据来源: WILEY