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Distribución: Intuiciones Básicas

Distribución: Intuiciones Básicas. Economía de la Pobreza y la Desigualdad Xavi Ramos. Índice. ¿Igualdad de qué?. ¿Igualdad de qué? Renta, bienestar y utilidad Comparación de bienestar Funciones de bienestar social Rankings Necesidades y dominancia. Introducción.

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Distribución: Intuiciones Básicas

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  1. Distribución: Intuiciones Básicas Economía de la Pobreza y la Desigualdad Xavi Ramos

  2. Índice • ¿Igualdad de qué? • ¿Igualdad de qué? • Renta, bienestar y utilidad • Comparación de bienestar • Funciones de bienestar social • Rankings • Necesidades y dominancia

  3. Introducción • Empecemos analizando una distribución de forma intuitiva con instrumentos básicos y datos reales. • Usaremos la distribución de la renta • … ¿qué renta?

  4. Try a simple thought experiment Use the Current Population Survey data See DeNavas-Walt et al (2005) Data, descriptions and computations Just take standard definitions Do everything in 2004 dollars Focus on income of households What do the data tell us? Key tables Begin with Table A-1 What do we know? – data

  5. 1. Earnings 2. Unemployment compensation 3. Workers’ compensation 4. Social security 5. Supplemental security income 6. Public assistance 7. Veterans’ payments 8. Survivor benefits 9. Disability benefits 10. Pension or retirement income 11. Interest 12. Dividends 13. Rents, royalties, estates & trusts 14. Educational assistance 15. Alimony 16. Child support 17. Financial assistance from outside the household 18. Other income Definición de la renta utilizada?

  6. Lagunas en nuestra definición • Cubre la renta monetaria recivida • Con excepción de algunas fuentes como los incrementos de capital • Antes de deducciones • Impuestos individuales directos • Contribuciones a la SS y sindicatos • Contribuciones para Medicare • No incluye remuneraciones en especie • Vales alimanícios (food stamps) • Atención sanitaria • Subsidios a la vivienda • Auto-consumo • Remuneración en especie de la actividad económica, • Contribuciones empresariales a planes de pensiones. • Veamos una primera ilustración de la distribución …

  7. A snapshot view • Gives proportions of households in each income category, year by year • Straight from the official table • Cut down to manageable number of years • omitted population totals • But, check in a diagram • standard frequency polygon….

  8. Representing the distribution?

  9. Questions • Mixed messages from this illustration • Shifts over time make sense… • …income growth • But weird stuff on the right… • …arises from arbitrary grouping • Get more insight from a better representation • Use the concept of quantile • includes well-known concepts • median, quartiles etc • a “boundary” income • Examine DeNavas-Walt et al (2005)Table A-3 • Do this for 1974, 2004 • Check out the growth

  10. Quantile Incomes by Households More detail.

  11. Quantiles: 1967 – 2004

  12. The Parade: quantiles vs population

  13. Inequality from quantiles? • But does this way of representing distributions tell us about inequality? • Clear that growth is lopsided • …top decile grew by almost four times as much four times as much as bottom • Suggests increase in inequality? • (whatever that may be) • We can also use quantiles to derive simple inequality measures • eg “90/10” ratio • (increased from 8.6 to 11.1) • or ratios to medians… • Have a look at path of these ratios… • … and then think again

  14. Quantile ratios: US 1967 – 2004

  15. Overview... Inequality and Poverty: Agenda Income distribution More of what we know about the US… and elsewhere Inequality Poverty Methods

  16. Fuller income information • Focus on additional income from same source • DeNavas-Walt et al (2005)Table A-3 • Again, we don’t question the definitions • household income before deduction • income receiver: household • Divide distribution up into five equal slices • Compute mean income of each 20% slice

  17. Mean incomes by groups of households More detail.

  18. Differential growth of mean incomes

  19. Three alternative views • First, plot these mean incomes cumulatively • Plot against population shares • Do this for any given year • Get a powerful tool • Second, plot income shares against time • Divide each group mean by overall mean • Graph these for whole period • Lopsided growth? • Third plot income shares against population shares • Do this for any given year • Get a very powerful tool

  20. 1: The Generalised Lorenz Curve

  21. 2: Income shares: US 1967-2004

  22. 2: Top income shares in US Piketty, T. and E. Saez (2003) “Income inequality in the United States, 1913-1998,” Quarterly Journal of Economics, 118, 1-39.

  23. 3: Lorenz curve • Natural interpretation in terms of shares • Gives a natural definition of the Gini coefficient • Use this to have a quick look at inequality in different countries…

  24. Lorenz around the world… Get full version SourceWorld Bank (2004)

  25. Income or consumption? SeeWorld Bank (2005)

  26. España, 1985-1996 • Micro data: ECPF 1985-1996 • Data shortcomings: underreporting of income data • Income definition: real net equivalised annual income • Net: of S.S. contributions and direct taxes (IRPF) • Real: Use RPI for each income decile • Equivalence scale: OECD’s

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