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1.
Divergence between the evolution of GDP per capita and the income of a “typical” household as measured in household surveys is giving rise to a range of serious concerns, especially in the USA. This paper investigates the extent of that divergence and the factors that contribute to it across 27 OECD countries, using data from OECD National Accounts and the Luxembourg Income Study. While GDP per capita has risen faster than median household income in most of these countries over the period these data cover, the size of that divergence varied very substantially, with the USA a clear outlier. The paper distinguishes a number of factors contributing to such a divergence, and finds wide variation across countries in the impact of the various factors. Further, both the extent of that divergence and the role of the various contributory factors vary widely over time for most of the countries studied. These findings have serious implications for the monitoring and assessment of changes in household incomes and living standards over time. 相似文献
2.
This study uses country-level panel data on consumption in Ireland and seven other OECD countries to examine the evolution of Irish consumption patterns as Ireland underwent rapid macroeconomic growth. Consumption levels obviously increased due to substantially higher incomes, but it is less clear how the shares of different types of goods purchased have changed or whether Ireland's consumption mix has converged with that of other high-income countries. Rankings based on a simple distance measure of consumption similarity suggest that Ireland moved from a “low-income” pattern similar to Portugal or Greece to a “high-income” pattern like that of Canada between 1995 and 2003. Using static and dynamic Almost Ideal Demand System models, we first estimate long- and short-run Irish price and income elasticities for nine categories of commodities between 1976 and 2003. These results provide evidence of substantial habit formation in aggregate consumption. We then estimate a long-run cross-country model covering six aggregate commodity groups between 1975 and 2003. The analysis shows that Ireland's demand parameters remain more similar to those of Greece than to higher-income OECD countries in the sample. Although Ireland has overtaken most other OECD countries in per capita income, it is still converging to a higher-income consumption pattern. We foresee further convergence of Irish expenditure patterns towards a pattern typical of high-income countries. 相似文献
3.
This study investigates welfare gains and channels of risk sharing among 14 Middle Eastern and North African (MENA) countries, including the oil‐rich Gulf region and the resource‐scarce economies such as Egypt, Morocco and Tunisia. The results show that for the 1992–2009 period, the overall welfare gains across MENA countries were higher than those documented for the Organization for Economic Cooperation and Development (OECD) nations. In the Gulf region, the amount of factor income smoothing does not differ considerably when output shocks are longer lasting rather than transitory, whereas the amount smoothed by savings increases remarkably when shocks are longer lasting. In contrast, both factor income flows and international transfers respond more to permanent shocks than to transitory shocks in the non‐oil MENA countries. The results also show that a significant portion of shocks is smoothed via remittance transfers in the economically less‐developed MENA countries, but not in the oil‐rich Gulf and OECD countries. Finally, for the overall MENA region, a large part of the shock remains unsmoothed, suggesting that more market integration is needed to remedy the weak link of incomplete risk sharing. 相似文献
4.
《Review of Economic Dynamics》2014,17(3):484-504
What part of the high oil price can be explained by structural transformation in the developing world? Will continued structural transformation in these countries result in a permanently higher oil price? To address these issues I identify an inverted-U shaped relationship in the data between aggregate oil intensity and the extent of structural transformation: countries in the middle stages of transition spend the highest fraction of their income on oil. I construct and calibrate a multi-sector, multi-country, general equilibrium growth model that accounts for this fact by generating an endogenously falling aggregate elasticity of substitution between oil and non-oil inputs. The model is used to measure and isolate the impact of changing sectoral composition in the developing world on global oil demand and the oil price in the OECD. I find that structural transformation in non-OECD countries accounts for up to 53% of the oil price increase in the OECD between 1970 and 2010. However, the impact of structural transformation is temporary. Continued structural transformation induces falling oil intensity and an easing of the upward pressure on the oil price. Since a standard one-sector growth model misses this non-linearity, to understand the impact of growth on the oil price, it is necessary to take a more disaggregated view than is standard in macroeconomics. 相似文献
5.
This paper uses the system-wide approach to analyse the consumption patterns in 18 OECD countries. The results show that, on average, the OECD per capita consumption increased by 3% per annum and prices increased by about 7% per annum; OECD consumers spend about half of their income on food, housing and transport. It is also shown that, in most OECD countries, food, housing and medical care are necessities and clothing, durables, transport and recreation are luxuries, and that the demand for all goods considered are price inelastic. The controversial hypothesis of Stigler and Becker (1977) that tastes are the same across countries is also tested and it is found that the OECD consumption data do not support their claim. 相似文献
6.
Hao-Yen Yang 《Applied economics》2013,45(9):1213-1221
Recently, several studies have been a detailed evaluation of the economic implications of energy taxation as a policy instrument to conserve energy and reduce carbon emissions. However, little attention has been devoted to inquiring about the economic implications of energy taxation in the newly industrialized countries (the so-called NICs). In this paper, we use a multisector, multihousehold computable general equilibrium model to assess the distributional effects of alternative energy taxation on the Taiwan economy. The counterfactual simulation technique is applied to investigate the income distribution implications of: (1) an increase in the import taxes of crude oil; and (2) an increase in the excise taxes of petroleum products. Our empirical results basing on Taiwan's data show that both energy taxes increase government revenue and the Gini coefficient, but reduce net value-added, private consumption, disposable income and equivalent variation. A raise in the Gini coefficient implies that there is a worsening in the distribution of income. The lowest income group suffers relatively large welfare and income loss, but the highest income group suffers a relatively small welfare and income loss. The distributional effects differ from household to household depending on the composition of their total consumption and the source of their factor income. Our findings reveal that the energy tax appears to be mildly regressive, there are broadly consistent with those cases of developed countries reported in previous studies. 相似文献
7.
We propose a measure of living standards for international comparisons. Based on GDP per capita, the measure incorporates corrections for international flows of income, labor, risk of unemployment, healthy life expectancy, household demography and inequalities. The method for comparing populations that differ in some non‐income dimension consists of computing the equivalent variation of income that would make each population indifferent between its current situation and a reference situation with respect to the non‐income dimension. This is applied to 24 OECD countries. The obtained ranking of countries differs substantially from the GDP ranking. 相似文献
8.
This paper has three objectives. First, to expand Hall's [J. Polit. Econ. 86 (1978) 971] rational expectations permanent income/life cycle hypotheses (REPIH/RELCH) representative agent model to allow for current income consumers, the durable component of total consumer expenditures and for intertemporal substitution, which are often cited as the main reasons for the rejection of Hall's model. Second, to apply this modified model to 20 OECD countries over the post-World War II period. The GMM estimation method is employed. Third, to examine the relative influence of liquidity constraints and precautionary saving on the cross-country variation in the proportion of current income consumers, using cross-country regressions and a non-linear model of panel data. The presence of current income consumers, which is primarily due to liquidity constraints and to a lesser extent to precautionary saving, is the major factor for the rejection of the basic REPIH/RELCH model in all OECD countries. 相似文献
9.
Time series panel data estimation methods are used to estimate the cointegrating equations for the demand for money (M1) for a panel of 11 Organization for Economic Cooperation and Development (OECD) countries for which consistent quarterly data are available. The effects of financial reforms are analysed with structural break tests and estimates for alternative sub-samples. Our results for the post-reform sub-samples show that the income elasticity of the demand for money has decreased and response to interest rate changes has increased. 相似文献
10.
There is no shortage of theories that purport to explain why globalization may have adverse, insignificant, or even beneficial effects on income and earnings inequality. Surprisingly, the empirical realities remain an almost complete mystery. In this paper, we use data on industrial wage inequality, household income inequality as well as measures of the economic, social and political dimensions of globalization to examine this controversial issue. Overall, while we find that globalization has exacerbated inequality; this is particularly true in the case of income inequality in OECD countries. 相似文献
11.
Lars Lindholt 《Applied economics》2013,45(17):2019-2036
This paper analyses the markets for fossil fuels given that the limits the Kyoto Protocol sets on CO2 emissions from Annex B countries extend beyond 2008–2012. A forward-looking model with endogenous prices for fossil fuels is applied under different assumptions concerning the technological progress for a carbon-free backstop technology. Both the time-profile of the international permit price needed for the Kyoto Forever targets as well as the implications through reduced demand and lower producer prices for fossil fuels are calculated. The permit price has to rise at least up to 2030 in order to fulfil the emission targets. From then on the necessary permit price shows different future developments, dependent on when the backstop technology starts to replace oil. Since changes in the availability of the backstop technology shift the time-profile of the permit price, the loss of petroleum wealth for oil and gas producers varies between the scenarios, but is never more than 20%. Findings indicate that the reduction in gas revenues in OECD-Europe after the introduction of the targets amounts to a yearly loss of 0.01–0.02% of their total GNP for half a century. The reduction in oil revenues for OPEC is comparable to an annual loss of 2.9–5.4% of their GNP over a period of sixty years. 相似文献
12.
Wolfgang Pollan 《Empirica》2009,36(4):389-406
The OECD has repeatedly recommended that wage bargaining in Austria be decentralised to allow wage diferentials to widen.
But the status quo itself is in question. While studies of aggregate industry data indicate a high degree of wage dispersion,
research based on data from household surveys seems suggest that income inequality in Austria is as small as in the Scandinavian
countries. This paper seeks to reconcile these opposing views. It shows that data from the household surveys underestimate
the size of inter-industry wage differentials. An analysis of the structure of contractual wage rates supports the view that
wage inequality is very pronounced in Austria and that a narrowing of the wage gap would lead both to an increase in productive
efficiency and an increase in income equality. 相似文献
13.
Robert J. Hill 《The Scandinavian journal of economics》2000,102(2):285-302
The results of purchasing power parity (PPP)-based comparisons of income across countries can be quite sensitive to the choice of index number formula. Tighter bounds on per capita income differentials can be constructed either by assuming homothetic preferences, or by estimating a demand system. Both approaches are used to construct bounds on per capita income differentials across the OECD countries. The paper concludes by discussing the strengths and weaknesses of each approach.
JEL Classification C 43; F 31; O 47 相似文献
JEL Classification C 43; F 31; O 47 相似文献
14.
The purpose of this research is to examine the contribution of unemployment to income inequality and poverty in various OECD countries. These relationships have been explored using Luxembourg Income Study micro-data. Considerable differences across OECD countries are revealed through the use of within-household unemployment distributions. These differences help to explain most of the observed divergences in the relationship between unemployment and income distribution, in conjunction with the heterogeneous influence of social benefits on the economic position of the unemployed in these countries. A sub-group decomposition analysis corroborates the limited effect of unemployment on income distribution in most of the considered countries. However, it seems clear that the unemployed are among those with the highest risk of experiencing poverty.
JEL classification: D31, I32, J31. 相似文献
JEL classification: D31, I32, J31. 相似文献
15.
中印两国是世界新兴的能源消费和进口大国,两国都面临着高度依赖海外油气资源的问题。为了填补能源供给与需求之间的巨大缺口,两国在寻求海外能源尤其是油气资源的博弈过程中存在着竞争与合作的战略互动关系。本文以博弈论为视角分析了中印能源竞购的现状,在前人关于中印在海外油气资源并购及能源战略分析研究的基础上,分析中印在寻求海外能源尤其是油气资源的博弈过程中的竞争与合作,同时对中印能源合作中存在的风险进行探析,并提出解决中印能源短缺的方案和策略,以此推动中印能源合作进程。 相似文献
16.
This article explores the issue of demand for health care and medicines in India where household share of total health expenditure is one of the highest among high- and low-income countries. Previous work found that important determinants include health status, socio-demographics, income and demand for care was inelastic. Compared with previous studies, this article uses large household data sets including data on medicine expenditure to explore health-seeking behaviour. Count models find that determinants include health status, socio-demographic information, health insurance, household expenditure and government regulation. Elasticities range from ?0.13 to 0.03 and are generally consistent with literature findings. For inpatient care, conditional on having at least one hospitalization, the expected number of hospitalizations increases with being male and household expenditure. Medicine expenditure accounts for a large share of household health expenditure. Low-income individuals could experience problems and raises important policy implications on the demand and supply side to improve access to health care and medicines for patients in India. 相似文献
17.
AbstractHousehold debt is at a record high in most Organisation for Economic Co-operation and Development (OECD) countries and it played a crucial role in the recent financial crisis. Several arguments on the macroeconomic drivers of household debt have been put forward, and most have been empirically tested, albeit in isolation of each other. This article empirically tests 7 competing hypotheses on the macroeconomic determinants of household indebtedness together in one econometric study. Existing arguments suggest that residential house prices, upward movements in the prices of assets demanded by households, the income share of the top 1%, falling wages, the rolling back of the welfare state, the age structure of the population, and the short-term interest rate drive household indebtedness. We formulate these arguments as hypotheses and test them for a panel of 13 OECD countries over the period 1993–2011 using error correction models. We also investigate whether effects differ in boom and bust phases of the debt and house price cycles. The results show that the most robust macroeconomic determinant of household debt is real residential house prices, and that the phase of the debt and house price cycles plays a role in household debt accumulation. 相似文献
18.
There are concerns that the unprecedented economic boom which Ireland experienced in the second half of the 1990s has raised only some living standards and has widened income gaps. This paper analyzes Ireland's income distribution in comparative perspective, to understand how Ireland's distribution changed and how it compares to other rich countries. We begin with OECD (Organization for Economic Cooperation and Development) and the Luxembourg Income Study (LIS) data to compare Ireland's degree of well-being and inequality with other advanced countries. We also look in some detail at alternative sources of Irish income and their implications for the trends in income inequality in Ireland from 1994 to 2000. For instance, we examine the top of the distribution using data from the administration of the income tax system. We conclude that the spectacular economic growth in the past decade has seen the gap in average income between Ireland and the richer OECD countries narrow dramatically. However, this growth has not greatly affected the Irish ranking in terms of income inequality. Ireland remains an outlier among rich European nations in its high degree of income inequality, though still falling well short of the level seen in the United States. In the end, we find that Ireland's new-found prosperity provides a "social dividend," and choices about how it is used will fundamentally affect whether the current high level of income inequality persists into the future. 相似文献
19.
We investigate the cyclicality of the household saving to household disposable income ratio for a panel of 16 OECD countries over the period 1969–2012. We find evidence that the household saving ratio is countercyclical. We empirically investigate whether the determinants of saving suggested by a standard buffer stock model of saving can explain this finding. The three main determinants of household saving implied by such a model (i.e., unemployment risk, household wealth and credit constraints) have a significant impact on the household saving ratio while their combined effect completely offsets its countercyclicality. The saving regression results are robust to potential endogeneity of the regressors, to making use of a reduced sample size that leaves out the period of the Great Recession, and to the one-by-one addition of variables suggested by alternative theories that also predict a countercyclical saving ratio. 相似文献
20.
Hilde Bjørnland 《Scottish journal of political economy》1998,45(5):553-585
This paper analyses the economic effects of the oil and gas sector (energy booms) on manufacturing output in two energy producing countries: Norway and the UK. In particular, I investigate whether there is evidence of a 'Dutch disease', that is whether energy booms have had adverse effects on manufactures. In addition to energy booms, three other types of structural disturbances are identified; demand, supply and oil price shocks. The different disturbances are identified by imposing dynamic restrictions on a vector autoregressive model. Overall, there is only weak evidence of a Dutch disease in the UK, whereas manufacturing output in Norway has actually benefited from energy discoveries and higher oil prices 相似文献