The Changing Distribution of Income in an Open U.S. Economy

The Changing Distribution of Income in an Open U.S. Economy

1st Edition - November 12, 1990

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  • Editors: J.H. Bergstrand, T.F. Cosimano, J.W. Houck, R.G. Sheehan
  • eBook ISBN: 9781483296265

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Description

There have been dramatic changes in the distribution of earnings and income in the United States during recent years. This volume presents original papers, contributed by eminent economists, on the measurement and causes of growing income inequality in the U.S. and other major industrialized countries. The first part examines the definition of income, decomposition of earnings into capacity and capacity utilization rates, and alternative methodologies for estimating income and earnings dispersion. The second part investigates theoretically or empirically alternative causes of income inequality: international trade, macroeconomic conditions and policies, technological progress, productivity growth, institutions, demographic labor supply, and sectoral labor demand. In the final part of the volume policy implications and recommendations are discussed.The volume will be valuable for academic departments (economics, political science, sociology); economic policy institutes and Federal Reserve Bank research departments; economists in government.

Table of Contents

  • Preface. List of figures. List of tables. List of conference speakers. Issues in the Measurement of Income Inequality. The scope, growth, and causes of income inequality in an open U.S. economy (J.H. Bergstrand et al.). Levels of and changes in the distribution of U.S. income (C.T. Nelson). A dominance evaluation of distributions of income and the benefits of economic growth (J.A. Bishop, J.P. Formby). The growth in male earnings inequality, 1973-1988: The role of earnings capacity and utilization (R.H. Haveman, L. Buron). Dimensions of inequality in labor income (B. Pierce, F. Welch). Issues in the Causes of Income Inequality. Using regional data to reexamine the contribution of demographic and sectoral changes to increasing U.S. wage inequality (L.A. Karoly, J.A. Klerman). The relationship between wage inequality and international trade (G.J. Borjas, V.A. Ramey). A macroeconometric model of income inequality in the United States (N.S. Balke, D.J. Slottje). Technological progress and income inequality: A model with human capital and bequests (E. Karni, I. Zilcha). Productivity and income inequality growth rates in the United States (K.J. Hayes et al.). Policy Implications and Recommendations. Old theories in new bottles: Toward an explanation of growing world-wide income inequality (B. Bluestone). General economic theory and income inequality (K.J. Arrow). Have we underinvested in education? (O. Ashenfelter). The changing distribution of income in an open U.S. economy: Findings and lessons (R.H. Haveman). Summary and conclusions (J.H. Bergstrand et al.). Index.

Product details

  • No. of pages: 411
  • Language: English
  • Copyright: © North Holland 1994
  • Published: November 12, 1990
  • Imprint: North Holland
  • eBook ISBN: 9781483296265

About the Editors

J.H. Bergstrand

T.F. Cosimano

J.W. Houck

R.G. Sheehan

Affiliations and Expertise

University of Notre Dame, IN, USA

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