Quotation Taylor, Lance, Rezai, Armon, Kumar, Rishabh, Barbosa-Filho, Nelson, Carvalho, Laura. 2017. Wage Increases, Transfers, and the Socially Determined Income Distribution in the USA. Review of Keynesian Economics, 2, 259-275.


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Abstract

This paper is based on a social accounting matrix (SAM) which incorporates the size distribution of income based on data from the BEA national accounts, the widely discussed 2012 CBO distribution study, and BLS consumer surveys. Sources and uses of incomes are disaggregated by household groups including the top 1 percent. Their importance (including saving rates) differs markedly across households. The SAM reveals two transfer flows exceeding 10 percent of GDP via fiscal (broadly progressive) and financial (regressive) channels. A third major flow over time has been a ten percentage point increase in the GDP share of the top 1 percent. A simulation model is used to illustrate how ‘feasible’ modifications to tax/transfer programs and increasing low wages cannot offset the historical redistribution toward the well-to-do.

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Publication's profile

Status of publication Published
Affiliation WU
Type of publication Journal article
Journal Review of Keynesian Economics
Citation Index SSCI
Language English
Title Wage Increases, Transfers, and the Socially Determined Income Distribution in the USA
Volume 2
Year 2017
Page from 259
Page to 275
Reviewed? Y
DOI http://dx.doi.org/10.4337/roke.2017.02.07
Open Access Y

Associations

People
Rezai, Armon (Details)
External
Barbosa-Filho, Nelson (FGV, Brazil)
Carvalho, Laura (USP, Brazil)
Kumar, Rishabh (NSSR, United States/USA)
Taylor, Lance (New School for Social Research, United States/USA)
Organization
Institute for Ecological Economics IN (Details)
Economics of Inequality FI (Details)
Research areas (ÖSTAT Classification 'Statistik Austria')
2928 Environmental economics (Details)
5325 Political economics (Details)
5334 Political economic policy (Details)
5335 Political economic theory (Details)
5341 Economic policy (Details)
5353 Environmental economics (Details)
5924 Environmental economics (Details)
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