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

by Bergstrand, Jeffrey H., Ph.D.; Cosimano, Thomas F. (CON)

• ISBN13: 9780444815590
• ISBN10: 0444815597
• Format: Hardcover
• Copyright: 1994-04-01
• Publisher: Elsevier Science Ltd

Summary

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
The Scope, Growth, and Causes of Income Inequality in an Open U.S. Economy	p. 3
Levels of and Changes in the Distribution of U.S. Income	p. 29
A Dominance Evaluation of Distributions of Income and the Benefits of Economic Growth	p. 65
The Growth in Male Earnings Inequality, 1973-1988: The Role of Earnings Capacity and Utilization	p. 105
Dimensions of Inequality in Labor Income	p. 145
Using Regional Data to Reexamine the Contribution of Demographic and Sectoral Changes to Increasing U.S. Wage Inequality	p. 183
The Relationship Between Wage Inequality and International Trade	p. 217
A Macroeconometric Model of Income Inequality in the United States	p. 243
Technological Progress and Income Inequality: A Model With Human Capital and Bequests	p. 279
Productivity and Income Inequality Growth Rates in the United States	p. 299
Old Theories in New Bottles: Toward an Explanation of Growing World-Wide Income Inequality	p. 331
General Economic Theory and Income Inequality	p. 343
Have We Underinvested in Education?	p. 349
The Changing Distribution of Income in an Open U.S. Economy: Findings and Lessons	p. 355
Summary and Conclusions	p. 361
Index	p. 381
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