Income Inequality and Macroeconomic Volatility: An Empirical Investigation

We explore the impact of macroeconomic volatility on the distribution of income. Using a cross‐section of developed and developing countries, we find that greater output volatility, defined as the standard deviation of the rate of output growth, is associated with a higher Gini coefficient and income share of the top quintile. The coefficients suggest that a strong effect on inequality resulting from a reduction in volatility: the Gini coefficient of a country like Chile would fall by 6 points if it were to reduce its volatility to the same level as Sweden or Norway. Our results seem not to be driven by the high‐inequality/high‐volatility Latin American countries.     

我国城镇居民收入分配差距的实证研究

笔者首先计算了几种度量收入分配差距的指标,从不同角度的分析得到了我国城镇居民收入分配差距不断扩大的结论;其次估计了我国城镇居民的基尼系数.通过计量经济模型,检验了高、中、低各阶层可支配收入与收入分配差距之间的关系,得出结论:增加中低收入阶层的可支配收入,遏制高收入阶层可支配收入,可以减小基尼系数,从而降低收入分配差距;进一步通过模型发现,我国发达地区的经济发展和收入分配差距呈现出倒U型规律,说明经济发展达到一定水平,收入分配差距有望缩小.     

直接税对居民收入分配影响的实证分析

直接税对居民收入分配有重要影响,是缩小居民收入差距的主要手段之一。文章基于我国城镇居民按收入七等分组的收入和支出数据,综合运用了税负累进性测度、税前与税后收入差距比较、多元回归分析等定量研究方法,对2002-2012年间我国直接税居民收入分配效应进行了实证分析,结果发现：我国个人直接税负具有一定程度的累进性,但直接税降低收入不平等的总体效果并不十分明显,这与现行直接税的内部税种结构失衡、税制要素设计不合理等因素有关。分税种来看,个人所得税调节收入分配的效果优于财产税。基于促进居民收入公平分配目标,今后一个阶段直接税改革的总体思路与基本路径为要突出“调高”主基调,加强财产持有、转让环节的税制建设,优化直接税的税种结构进一步完善以个人所得税与房地产税为核心的直接税的税制设计与税收征管。     

影响我国收入分配的因素分析

本文使用2008年的调查数据,分析了人力资本、政治资本等因素对收入回报的影响.研究发现,受教育程度越高,所获得的人力资本回报越高;拥有党员身份并担任相应领导职务,则获得了较高的政治资本回报;垄断行业的收入明显高于竞争性行业.此外,由于地区差距和城乡差距,东部和中部地区的收入明显高于西部地区,且城市收入高于农村.     

中国农村收入分配与农村金融发展实证研究

本文运用1991~2008年的实际数据实证研究了我国农村金融发展与农民收入分配之间的相关性关系和影响机制。与已有的研究不同的是,本文的研究结果表明我国农村金融的发展并未起到抑制农村居民收入分配差距的作用,反而在一定程度上拉大了农村居民收入分配差距。此外,本文还发现发展中国家在抑制农村居民收入分配差距的问题上,光靠金融支持是不够的,还需要政府财政支农的积极配合。     

我国企业员工收入分配中的若干问题——资源禀赋视角下的实证分析

本文以4个行业中96家深沪上市公司为样本,对员工绝对收入和相对收入比重进行了多元线性回归分析。研究结果表明,我国企业员工收入分配中存在着劳动密集型企业员工收入比重偏低、因行业管理不规范导致的收入分配异常、忽视广大普通员工的贡献、总经理持股比例过小等问题,本文针对这些问题提出了相应的解决思路。     

收入增长、劳动力外出与农村居民财产分布——基于四省农村的住户调查分析

本文在四省农村住户调查数据的基础上讨论了农村居民收入和外出行为对于家庭财产积累的影响。结果表明,农村居民的财产分布不均等程度要高于收入的不均等性,金融资产的不均等性尤其要高一些;财产不均等与收入不均等之间具有非常密切的关联性,收入不均等将转化为财产不均等。本文的结果也发现,家庭的外出决策对于财产积累,特别是金融资产的积累具有重要影响。     

How Information Quality of Macro Aggregates Affects Sovereign Risk: An Empirical Investigation

This paper looks at the relationship between data quality of macro aggregates and the repayment ratio for debt payments due in a given year after a country defaults. We find empirical evidence that good information of macro aggregates reduces sovereign risk by enhancing the repayment ratio conditional on default, while having an insignificant effect on the default probability. The estimation accounts for selection bias by using a cross-country panel data of 69 developing countries for 1989–2002. Careful consideration is taken to establish information quality of macro aggregates as an exogenous institutional variable. Results are robust to controlling for various governance factors, income levels, and regional factors, etc. Linking information quality to creditors' bargaining power is more consistent with our findings than linking poor information quality to information asymmetry.     

我国现行税制结构影响居民收入分配差距的实证分析

就现行税制而言,增值税和消费税扩大了居民的收入差距,个人所得税对缩小居民收入差距有良好的促进作用.因此,在我国以流转税为主体的现行税制结构对居民收入分配差距的影响不甚显著.要充分发挥税收调节居民收入分配的功能,还依赖于税制结构的调整与优化,只有增加所得税、尤其是个人所得税在税收收入中的比重,相应降低流转税特别是增值税的比重,税收负担才有可能向高收入阶层转移.     

生产结构、收入分配与宏观效率——一个马克思主义政治经济学的分析框架与经验研究

现有文献对收入分配调整、经济结构变动和宏观效率提升三者之间的关系鲜有系统性研究。本文将马克思的再生产图式拓展为由固定资本、一般性生产资料、消费资料组成的"马克思—斯拉法"型三部类结构表,并利用中国1987—2015年的投入产出表,刻画投资驱动型增长下收入分配与宏观效率之间的关系。文章测算了中国经济的工资—利润曲线,再根据实际与潜在收入分配结构之间的偏离度,评价了中国宏观效率提升的空间。结果表明,利润率出现了下降的趋势,符合马克思的理论预测;利润率的下降主要归因于外延式增长方式下固定资本投资快速增长引起的资本有机构成提高;对宏观经济效率的分析表明,在传统增长方式之下,改善宏观经济效率的空间极为有限,必须转变经济发展方式,打造经济增长新动能。     

Statics and Dynamics of Income Distribution: An Introductory Survey

Abstract
This article discusses some of the issues involved in making comparisons of income distributions using cross-sectional data and in examining the dynamics of income distribution using longitudinal data. Any study of income distribution must consider the unit of analysis, the time period and the measure of income, and these are the focus of the article. Section 2, on annual incomes, begins with problems of intra-household income sharing and the measure of income used, including household production. Comparisons among households of different size are discussed, involving the choice of equivalence scales, the use of decomposition analysis and more general dominance conditions. The role of value judgments in the use of equivalence scales is stressed. Section 3 is concerned with dynamic aspects of income distribution. It discusses methods of constructing synthetic cohorts for use in simulation exercises, the varieties of longitudinal data available, sample attrition and the unit of analysis. An appendix provides further references to the literature and data sources .     

State Accountancy Regulations,Audit Firm Size,and Auditor Quality: An Empirical Investigation

This paper extends the literature on occupational licensing by examining the effect of states' licensing requirements for Certified Public Accountants (CPAs). We related variations in licensing requirements across states to CPA firm based assessments of service quality. Based upon prior research, we also examined the relationship between service quality and a market generated quality indicator: CPA firm size. The results show no association between audit quality and variations in regulatory strictness. However, a positive relationship was found between audit quality and firm size, suggesting that market forces, rather than governmental intervention, is effective in addressing the information asymmetry that can exist between CPAs and their clients.     

Protection versus Promotion: An Empirical Investigation

Using Turkish industry-level data from 1983 to 1990, we find that politically organized industries receive both higher protection and promotion than unorganized ones. Tariff rates are decreasing (increasing) in the import-penetration ratio and the absolute value of the import-demandelasticity for organized (unorganized) industries. Subsidy rates are decreasing (increasing) in the output-supply elasticity for organized (unorganized) industries. The results are consistent with the predictions of the Grossman–Helpman model and its extension in this paper. The mix of protection and promotion is inversely related to the ratio of their respective marginal deadweight cost measures.     

经济波动中的收入分配与有效需求——基于1990-2007年中国数据的再检验

从资本存量与收入流量均衡的角度,本文分析了在经济波动的过程中,功能性收入分配比例的变化将会对有效需求结构产生影响,这是构成中国经济波动的内在机制.并通过实证分析,提出政府在调节经济的同时,应特别注意到有效需求问题,保持资本存量与收入流量之间的适当比例关系,并调整收入分配.这对实现国民经济平稳、快速的增长有着重要的意义.     

政府基础设施投资与居民收入关系的实证研究

政府支出的目的之一就是改善人民群众的生活条件,增加居民收入。基于中国1980—2009年的时间序列数据进行实证研究,通过协整检验、Granger因果检验和误差修正模型的建立来分析政府基础设施投资支出与城镇居民收入的关系。结果发现政府基础设施投资支出与城镇居民收入具有长期的均衡关系,且政府基础设施投资支出是城镇居民收入的Granger原因（反向不成立）。     

久期配比策略的免疫性分析——来自中国国债市场的经验证据

基于上海证券交易所上市国债的交易数据,本文对6种久期配比策略的免疫性进行了分析.我们的经验结果显示:第一,同一目标持有期下,部分久期配比策略的免疫效果及其稳定性相对最好,方向配比策略的免疫效果及其稳定性相对最差,其它久期配比策略的免疫效果及其稳定性没有明显差异;同一久期配比策略的免疫效果及其稳定性随着目标持有期的增加而改善.第二,部分久期和方向久期配比策略的免疫效果及其稳定性在降息阶段相对较好,而其它久期配比策略的免疫效果及其稳定性在降息阶段和升息阶段没有明显区别.第三,可供选择的国债数量多少对久期配比策略的免疫效果及其稳定性有一定影响,可选国债数量越多,久期配比策略的免疫效果及其稳定性越好.     

Economic Freedom and the Quality of Life: An Empirical Analysis

Previous empirical research on the social and economic impact of freedom has tended to focus on the link between freedom and economic growth rates. Only a few studies have looked at freedom's effect on the quality of life, and these generally focused on the effect of political freedom. Here, we attempt to bridge this gap by analyzing the effect of economic freedom on the quality of life. Taking advantage of newly developed measures of economic freedom, we analyze the impact of economic freedom on life expectancy and literacy rates. We find that greater economic freedom enhances the quality of life both across nations and increases the improvements in the quality of life over time.