摘要:

This paper explores the sensitivity of the size distribution of family income in Canada to alternative definitions of income. These alternative definitions examine both wealth generally in the form of an annuity equivalent, and home ownership in the form of imputed rent. An adjustment for family size differences is also made. The impact of these adjustments is assessed for average incomes, inequality, and the incidence of low income for different age groups. The adjustments do have significant effects that vary by age; in particular, the economic position of the elderly seems understated by the usual data. Also, methodological considerations, such as the direct use of micro data and the choice of inequality indicator are shown to be significant.

ISSN:0034-6586    

DOI:10.1111/j.1475-4991.1979.tb00090.x

出版商:Blackwell Publishing Ltd    

年代:1979

数据来源: WILEY

摘要:

Potential gross national product (GNP) is a measure of the aggregate supply capability of an economy, or the amount of output that could be expected at full employment. Such a measure of output at constant rates of labor and capital utilization is useful as a benchmark for economic performance, calculation of the full employment surplus as an indicator of fiscal policy, and in the projection of unemployment rates. Potential GNP for the United States is estimated for the years 1948–77, and projected for 1978–80. The calculations use a variable benchmark for the full‐employment unemployment rate, based on the changing age‐sex composition of the labor force, and a constant benchmark for the utilization of fixed capital. A framework for separation of productivity into trend, cycle, and irregular components is developed, and then estimated for the 1948–77 period, using quarterly data. The relationships between various age‐ and sex‐specific unemployment rates are also estimated in construction of the variable unemploym

ISSN:0034-6586    

DOI:10.1111/j.1475-4991.1979.tb00091.x

出版商:Blackwell Publishing Ltd    

年代:1979

数据来源: WILEY

摘要:

A review of the United Nations System of National Accounts and its implementation by countries is presently being conducted at the United Nations Statistical Office. This article presents a personal and selective account by the author of the results of that review and its consequences for the present structure of the SNA.Information is included on the level of response by countries for the tables of the SNA national accounts questionnaire. It shows that this response is at present sparce, except for the tables on GDP by end use, cost structure and kind of economic activity.On the more detailed level the feasibility of introducing integrated sector accounts into the system has been examined and different approaches compared. Country practices suggest that one way of facilitating the introduction of such accounts would be to eliminate one essential feature of the dual classification of the SNA, i.e., the distinction between quasi‐corporate and other unincorporated enterprises. Other modifications of the SNA structure implied below are the introduction on a limited scale of articulation of transactions, the inclusion of additional aggregate income and balancing items, a reallocation of data between the main accounts and the supporting tables, and a better integration of the SNA matrix with the accounts and tables of the system. A reduction of the present number of independent classifications in the SNA is suggested, based on links between categories of different classifications that are assumed in country responses to the questionnaire. A suggestion is made for a uniform valuation of goods and services and income flows, to replace the present complex valuation guidelines on approximate basic and factor values and producers’ pri

ISSN:0034-6586    

DOI:10.1111/j.1475-4991.1979.tb00092.x

出版商:Blackwell Publishing Ltd    

年代:1979

数据来源: WILEY

摘要:

Using a simple simulation model, this paper assesses the impact of relative movements in asset prices on the distribution of wealth during the 1969–75 period. Because of the strong negative correlation between wealth level and the ratio of debt to wealth, this particular inflation induced a substantial drop in the overall level of wealth inequality. Moreover, comparing the portfolios of different demographic groups, we found that middle‐aged households gained relatively to younger and older ones, married couples gained relatively to singles, whites gained relatively to non‐whites, and home‐owners gained relatively to renters. The biggest gainers from this inflation were home‐owners with large mortgages and the biggest losers the large stoc

ISSN:0034-6586    

DOI:10.1111/j.1475-4991.1979.tb00093.x

出版商:Blackwell Publishing Ltd    

年代:1979

数据来源: WILEY

摘要:

Responding to a perceived growing interest in human wealth estimates, this paper offers a framework for measuring the aggregate stock of human capital and then implements the procedure for the United States male population age 14 to 75. Unlike previous estimates of human wealth that are based upon historical or resource costs, these estimates measure the capital stock as the discounted resent‐value of expected lifetime returns. In the estimation, returns are equated with earnings data from the 1970 U.S. Census 15 percent Public Use Sample for out‐of‐school males, adjusted for employment and survival probabilities, adjusted for an assumed exogenous growth in future earnings, and discounted at 7.5 percent.We provide cross‐sectional estimates of individual stocks of human capital by age and educational attainment, as well as expected lifetime wealth profiles for individuals by level of education. These individual profiles can be used to obtain direct estimates of age‐specific depreciation which suggest human capital is subject to significant and prolonged appreciation before nearly straight‐line depreciation begins around middle age. This finding is all the more significant since resource‐cost estimates of human capital which must assume a depreciation pattern to obtain stocks have always imposed a much faster rate much sooner.Finally, an aggregate estimate of the stock of human capital for all males is supplied and its sensitivity to the choice of the discount rate, tax laws, and expected exogenous growth is analyzed. This seemingly‐conservative stock estimate is then compared to a much lower resource‐cost estimate offered recently by John Kendrick. A discount rate over 20 percent would be needed to equate the two measures. In trying to reconcile the two figures, we raise some new questions about the validity of both approaches for human c

ISSN:0034-6586    

DOI:10.1111/j.1475-4991.1979.tb00094.x

出版商:Blackwell Publishing Ltd    

年代:1979

数据来源: WILEY

ISSN:0034-6586    

DOI:10.1111/j.1475-4991.1979.tb00095.x

出版商:Blackwell Publishing Ltd    

年代:1979

数据来源: WILEY

ISSN:0034-6586    

DOI:10.1111/j.1475-4991.1979.tb00096.x

出版商:Blackwell Publishing Ltd    

年代:1979

数据来源: WILEY

ISSN:0034-6586    

DOI:10.1111/j.1475-4991.1979.tb00097.x

出版商:Blackwell Publishing Ltd    

年代:1979

数据来源: WILEY