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  • Articles  (36,390)
  • 1980-1984  (36,390)
  • 1981  (36,390)
  • Medicine  (30,304)
  • Economics  (6,086)
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  • Articles  (36,390)
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  • 1980-1984  (36,390)
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  • 1
    Electronic Resource
    Electronic Resource
    REGINALD E. BEALES 1909–1980 (1981)
    Oxford, UK : Blackwell Publishing Ltd
    Review of income and wealth 27 (1981), S. 0 
    Details
    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1475-4991.1981.tb00195.x
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  • 2
    Electronic Resource
    Electronic Resource
    NEW INSIGHTS INTO THE STRUCTURE OF THE WORLD ECONOMY (1981)
    Oxford, UK : Blackwell Publishing Ltd
    Review of income and wealth 27 (1981), S. 0 
    Details
    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: The United Nations' newly completed study of purchasing power parities covering 34 countries varied in region, income level, and form of economic organization shows the systematic differences between the usual view of the structure of the world economy arising out of international comparisons based upon foreign exchange rate conversions and the structure one sees when actual prices are available.The real per capita GDP of developing countries is understated relative to developed countries when exchange rates are used in converting countries' national income accounts to a common currency, with the degree of understatement for any two countries being inversely related to the per capita income difference between them. The reason for this is that relative prices in the non-traded goods sector are lower relative to traded goods prices in low income countries. The systematic pattern observed in the 1975 data of the 34 countries has been extrapolated over time and space to get estimates of GDP for other years and countries.In the absence of detailed price data, the real shares of final expenditures devoted to particular components of the total can only be estimated as the proportion of own currency total expenditure devoted to the components. The observed differences in the pattern of prices of poor countries relative to rich for different components makes this clearly wrong for international comparisons, and in systematic ways. For example, (i) the relative price of services compared with commodities in poor countries is lower than in rich; so the apparent tendency of the share of services to rise as a country's income rises disappears when real quantities are considered; similarly, (ii) the relative price of capital goods is greater in poor countries compared with rich ones, so the difference in investment ratios out of GDP between rich and poor countries is understated.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1475-4991.1981.tb00241.x
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  • 3
    Electronic Resource
    Electronic Resource
    THE MEASUREMENT OF TERMS OF TRADE EFFECTS (1981)
    Oxford, UK : Blackwell Publishing Ltd
    Review of income and wealth 27 (1981), S. 0 
    Details
    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: The change in goods and services available in a national economy brought about by the shifting of external price relationships is referred to as the terms of trade effects. This paper reviews the various methods which have been devised since the war to define and quantify such effects on the Gross National Product. The statistical annex shows that, as far as OECD countries are concerned, the differences between the various measures are not significant. Whereas the effects from terms of trade represented, on average, less than one half of one percent of the GNP of OECD countries during the 1960's the percentage has increased substantially since 1973, due most importantly to the increase in the oil price; by 1977 (on a 1970 price basis), it had reached 5 percent of GNP in Japan and up to 6 percent in Italy. On the other hand, the extreme case of Saudi Arabia where various formulas generate effects amounting to between one half and the whole of GNP, indicates that the measurement of terms of trade effects by various methods may give different results.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1475-4991.1981.tb00247.x
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  • 4
    Electronic Resource
    Electronic Resource
    A COMPARISON OF DISTRIBUTIONS OF ANNUAL AND LIFETIME INCOME: SWEDEN AROUND 1970. (1981)
    Oxford, UK : Blackwell Publishing Ltd
    Review of income and wealth 27 (1981), S. 0 
    Details
    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: The concern with income distribution has always mainly existed because of a concern with individuals' economic welfare. In recent years, the question has arisen whether the distribution of annual income—the distribution most often studied—is the best proxy for the distribution of economic welfare. Other measures, such as lifetime income, have been proposed instead.The paper starts with a discussion of how to define and measure the distribution of lifetime income. By using a simulation model, which partly consists of estimated functions and partly of tax functions taken directly from tax laws, distributions of lifetime income, variously defined, are then constructed. These distributions are compared with each other, and with distributions of annual income. The simulations indicate that the distribution of lifetime income is considerably less unequal than the distribution of annual income. Whether inheritances are included or not seems to be of no importance for the inequality of lifetime income. If, on the other hand, we include the value of leisure time in lifetime income, inequality increases by about 10–15 percent. Distributions of income after tax have Gini coefficients which are approximately 25 percent less than the Ginis for the before-tax distributions. We thus find that the picture of inequality we get is very much dependent on which income concept we use.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1475-4991.1981.tb00227.x
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  • 5
    Electronic Resource
    Electronic Resource
    SOCIAL EXPENDITURE: SOCIALIZATION OF EXPENDITURE? THE FRENCH EXPERIMENT WITH SATELLITE ACCOUNTS (1981)
    Oxford, UK : Blackwell Publishing Ltd
    Review of income and wealth 27 (1981), S. 0 
    Details
    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper discusses the history of the French development of satellite accounts during the late 1960s and 1970s, noting the circumstances that led to the initiation of work in this area and describing the types of problem encountered. It then goes on to draw, on the basis of the French experiment, more general conclusions and to present a proposed accounting framework. The final section considers the concept of social expenditure, but concludes that, at least for the present, it is not possible to construct a useful global concept.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1475-4991.1981.tb00243.x
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  • 6
    Electronic Resource
    Electronic Resource
    THE SIZE DISTRIBUTION OF INCOME IN LIBERIA (1981)
    Oxford, UK : Blackwell Publishing Ltd
    Review of income and wealth 27 (1981), S. 0 
    Details
    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: The economy of Liberia is one in which, in spite of past satisfactory growth performance, a high level of income inequality persists. In 1977, for instance, a mere 2 percent of the people accounted for some 33 percent of nation-wide wage income. These people live disproportionately in Montserrado County in which the capital city is located. While each of the other counties are largely rural and poor, each has far lower intra-county inequality than wealthy Montserrado.Intersectoral location of the income-earner, average income levels and the extent of access to human capital formation opportunities are some characteristics of the economy that have been found to explain significant portions of intercounty variations in the levels of household income concentration. Income inequality is reduced with increases in the extent of agricultural activity as the share of the top income group falls and that of the bottom group rises. The reverse happens with growing urban-area activity. Higher income concentration occurs with rising per capita incomes as the top group's income share rises and the bottom income group's share falls. While this appears to be an instance of the Kuznet U-shaped hypothesis, here there are no definite signs of a possible reversal any time soon. The levels of access to educational facilities move inversely with the level of inequality, with expanding elementary facilities benefiting the poorer people at the expense of the wealthy while the reverse happens in the case of expanding secondary educational facilities.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1475-4991.1981.tb00244.x
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  • 7
    Electronic Resource
    Electronic Resource
    A NOTE ON THE IMPACT OF TAX ON INCOME REDISTRIBUTION (1981)
    Oxford, UK : Blackwell Publishing Ltd
    Review of income and wealth 27 (1981), S. 0 
    Details
    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1475-4991.1981.tb00230.x
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  • 8
    Electronic Resource
    Electronic Resource
    THE DISTRIBUTION OF INCOME IN TRINIDAD AND TOBAGO, 1957–76 (1981)
    Oxford, UK : Blackwell Publishing Ltd
    Review of income and wealth 27 (1981), S. 0 
    Details
    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This article describes what happens to income distribution during intensive changes in gross domestic product due to external market conditions. It deals specifically with an open market petroleum-based economy, Trinidad and Tobago, and reviews changes in national product and income levels and the income distribution pattern over the twenty year period 1957–76.The paper argues that during the period characterized by subperiods of steady growth and rapid growth in GDP (the latter associated with the petroleum price rise), income inequality increased between 1957 and 1972 and then decreased in the post petroleum-price-rise period of rapid growth 1973–76. While the effect of intensive changes in national product did trickle down to the lower income groups, income inequality in 1975–76 was greater than that existing in 1957–58. An examination of the spatial, occupational and temporal aspect of the distribution pattern points towards the elimination of structural dualism in the economy as the surest path towards greater income equality in Trinidad and Tobago.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1475-4991.1981.tb00209.x
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  • 9
    Electronic Resource
    Electronic Resource
    CONCEPTS AND PROBLEMS OF CONSISTENCY IN TERMS-OF-TRADE ANALYSIS (1981)
    Oxford, UK : Blackwell Publishing Ltd
    Review of income and wealth 27 (1981), S. 0 
    Details
    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: The debate on how to deal with changes of relative prices in national accounts has, so far, remained inconclusive, especially with regard to the question of how to measure gains from changes of terms of trade. Keeping the experiences of the 1970s in mind (i.e. substantial changes of relative prices sparked off by increased oil prices), this state of affairs is not considered tenable.On this background, the paper takes up the old debate on how to deflate figures of domestic product, total as well as by industries. It tries to argue that deflated figures should be presented not only as real product figures by industries (using the double deflation method), but also as real income figures, obtained by deflating the current-prices figures of a certain year by the same general price index. When this is done according to procedures spelled out in detail, gains/losses from changes of the terms of trade in foreign trade will show up as an integral part of the framework.In the paper, special attention is given to the concept of industry terms of trade. On the basis of simplifying assumptions (which are, however, relaxed in the final part of the paper), it is shown how the ratio of real income divided by real product of a certain industry will be proportionate to the terms of trade of the industry concerned, when the latter concept is defined in the appropriate way. Furthermore, the sum of the industry gains/losses from changes of their terms of trade will be equal to the gain/loss of the economy taken as a whole from changes of the terms of trade in foreign trade.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1475-4991.1981.tb00208.x
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  • 10
    Electronic Resource
    Electronic Resource
    THE ACCUMULATION OF HOUSEHOLD WEALTH OVER THE LIFE-CYCLE: A MICRODATA ANALYSIS (1981)
    Oxford, UK : Blackwell Publishing Ltd
    Review of income and wealth 27 (1981), S. 0 
    Details
    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: In this paper, I investigate the validity of the Modigliani-Brumberg (M-B) model as an explanation of the variation of wealth holdings among households. The model as such, even with the inclusion of estimates of household lifetime earnings, explains only a minute portion of the variation in household wealth. Indeed, for certain groups such as non-white, rural residents, and the low educated, the coefficients of the regression model are insignificant. Moreover, when the top wealth holders are removed from the sample and when non-cash financial and business assets are eliminated from the household portfolios, the explanatory power of the M-B model increases markedly. Essentially, the validity of life-cycle wealth accumulation models must be restricted to the white, urban, educated middle classes and their accumulation of housing, durables, and cash. The rich have very different motives for saving and very different sources of saving, while the poor do not earn sufficient income over their lifetime to accumulate any non-negligible wealth.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1475-4991.1981.tb00193.x
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