摘要:

Among the many interpretations of real national income are (i) the return to national wealth and (ii) the Hamiltonian of an appropriately‐chosen dynamic model of the economy. These interpretations are sometimes alleged to be equivalent and to constitute the self‐evidently ideal definition to which statistics of real national income should conform as closely as possible., The allegation is correct on some very restrictive assumptions about technology and taste. Otherwise, these interpretations are inconsistent, inexpedient as definitions of real national income and significantly at variance with the usage in the national accounts. The return to wealth is unmeasurable with the currently‐available data. The Hamiltonian is typically in the wrong units. It is an accurate reflection of neither productive capacity nor welfare in an intertemporal context. It is not well‐defined in a tax‐distorted economy. It is rarely an indicator of the return to wealth.A personn's income is “the maximum value he can consume during a week and still be as well off at the end of the week as he was at the beginning”J. R. Hicks2“…the rigorous search for a meaningful income concept leads to a rejection of all current income concepts and ends up with something closer to a “wealth‐like magnitude,” such as the present discounted value of future consumption. …a standard welfare interpretation of NNP is that it is the largest permanently maintainable value of consumption. …What we have been calling net national product is just the Hamiltonian for a general optimization

ISSN:0034-6586    

DOI:10.1111/j.1475-4991.1994.tb00055.x

出版商:Blackwell Publishing Ltd    

年代:1994

数据来源: WILEY

摘要:

Using the 1983 and 1989 Surveys of Consumer Finances, I find evidence of sharply increasing house‐hold wealth inequality over this period. Whereas mean wealth increased by 23 percent in real terms, median wealth grew by only 8 percent. The share of the top one‐half percentile rose by five percentage points, while the wealth of the bottom two quintiles showed an absolute decline. The Gini coefficient increased from 0.80 to 0.84. Almost all the growth in real wealth accrued to the top 20 percent of wealthholders. In contrast, the degree of wealth inequality was almost identical in 1983 as in 1962, and real wealth growth was more evenly distributed across the wealth distribution. There is also evidence that the sharp increase in wealth inequality from 1983 to 1989 was due to a correspondingly sharp rise in income inequality, the increase of stock prices relative to housing prices, and relatively slow inflat

ISSN:0034-6586    

DOI:10.1111/j.1475-4991.1994.tb00056.x

出版商:Blackwell Publishing Ltd    

年代:1994

数据来源: WILEY

摘要:

This article presents an historical Social Accounting Matrix (1938) for the Netherlands, including related, non‐monetary tables on demographic characteristics, employment, et

ISSN:0034-6586    

DOI:10.1111/j.1475-4991.1994.tb00057.x

出版商:Blackwell Publishing Ltd    

年代:1994

数据来源: WILEY

摘要:

Two hundred sixty‐three of the largest Australian fortunes are classified by date and industry of origination. More began in property development, sheep ranching and clothing manufacturing than in other industries. First generation immigrants own more than twice the number of fortunes as would be expected on the basis of their proportion of the population. A panel of experts judged that three‐quarters of the fortunes originated in competitive industries. One explanation for large fortunes accumulating in competitive industries is extraordinary returns to disequilibrium (innovation and product differentiation). Other explanations include the assumption of risk and the return to scarce entrepreneurial and managerial skills. Progress in communication and transport technology have made it possible to leverage modest Ricardian rents into large profits via chain operati

ISSN:0034-6586    

DOI:10.1111/j.1475-4991.1994.tb00058.x

出版商:Blackwell Publishing Ltd    

年代:1994

数据来源: WILEY

摘要:

Zakatis an important form of religiously‐mandated charity under Islam. This paper examines its impact on income inequality in Pakistan. Data from 1987–88 are used to construct two income distributions‐one that would have obtained if zakat had not been given, and one that did obtain when such giving took place. Atkinson‐Kolm‐Sen relative indices of income inequality are computed which show that zakat does reduce measured income inequality in Pakistan. Both intra‐province and inter‐province components of over‐all inequality decline, though the amount of change is small.So give to the kinsman his due, and to the needy, and to the wayfarer. That b best for those who seek Allah's count

ISSN:0034-6586    

DOI:10.1111/j.1475-4991.1994.tb00059.x

出版商:Blackwell Publishing Ltd    

年代:1994

数据来源: WILEY

摘要:

Economic growth had less impact on poverty rates in the 1980s than in the 1960s. Could this be explained by Locke Anderson's observation that the higher median income, the greater the amount of growth needed to achieve a percentage point fall in the poverty rate? No, higher poverty rates are due instead to the rise in income inequality. With higher inequality, however, trickle down could be as effective in the 1990s as it was in the late 1960s. More generally, assessments of anti‐poverty policy must recognize that inequality is as vital to changes in the poverty rate as growth in mean incom

ISSN:0034-6586    

DOI:10.1111/j.1475-4991.1994.tb00060.x

出版商:Blackwell Publishing Ltd    

年代:1994

数据来源: WILEY

ISSN:0034-6586    

DOI:10.1111/j.1475-4991.1994.tb00061.x

出版商:Blackwell Publishing Ltd    

年代:1994

数据来源: WILEY

摘要:

A Review of O. Blanchard, R. Dornbusch, P. Krugman, R. Layard and L. Summers,Reform in Eastern EuropeG. Sinn and H.‐W. Sinn,Jumpstart: The Economic UniJication of GermanyJ. M. Kovács and M. Tardos (Ed.),Reform and Transformation in Eastern Europe: Soviet‐type Economics on the Threshold of ChangeR. Layard, 0. Blanchard, R. Dornbusch and P. Krugman,East‐West Migration: The Alter

ISSN:0034-6586    

DOI:10.1111/j.1475-4991.1994.tb00062.x

出版商:Blackwell Publishing Ltd    

年代:1994

数据来源: WILEY

ISSN:0034-6586    

DOI:10.1111/j.1475-4991.1994.tb00063.x

出版商:Blackwell Publishing Ltd    

年代:1994

数据来源: WILEY