skip to content
Income mobility and welfare Preview this item
ClosePreview this item
Checking...

Income mobility and welfare

Author: Tom Krebs; Pravin Krishna; William F Maloney; International Monetary Fund. Research Department.
Publisher: [Washington, D.C.] : International Monetary Fund, ©2013.
Series: IMF working paper, WP/13/24.
Edition/Format:   eBook : Document : International government publication : EnglishView all editions and formats
Summary:
"This paper develops a framework for the quantitative analysis of individual income dynamics, mobility and welfare. Individual income is assumed to follow a stochastic process with two (unobserved) components, an i.i.d. component representing measurement error or transitory income shocks and an AR(1) component representing persistent changes in income. We use a tractable consumption-saving model with labor income  Read more...
Rating:

(not yet rated) 0 with reviews - Be the first.

Subjects
More like this

Find a copy online

Find a copy in the library

&AllPage.SpinnerRetrieving; Finding libraries that hold this item...

Details

Genre/Form: Electronic books
Material Type: Document, Government publication, International government publication, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: Tom Krebs; Pravin Krishna; William F Maloney; International Monetary Fund. Research Department.
ISBN: 9781475536348 1475536348
OCLC Number: 826821943
Notes: Title from PDF title page (IMF Web site, viewed Feb. 5, 2013).
"Research Department"--Page 2 of pdf.
"January 2013"--Page 2 of pdf.
Description: 1 online resource (28 pages).
Series Title: IMF working paper, WP/13/24.
Responsibility: Tom Krebs, Pravin Krishna, William Maloney.

Abstract:

"This paper develops a framework for the quantitative analysis of individual income dynamics, mobility and welfare. Individual income is assumed to follow a stochastic process with two (unobserved) components, an i.i.d. component representing measurement error or transitory income shocks and an AR(1) component representing persistent changes in income. We use a tractable consumption-saving model with labor income risk and incomplete markets to relate income dynamics to consumption and welfare, and derive analytical expressions for income mobility and welfare as a function of the various parameters of the underlying income process. The empirical application of our framework using data on individual incomes from Mexico provides striking results. Much of measured income mobility is driven by measurement error or transitory income shocks and therefore (almost) welfare-neutral. A smaller part of measured income mobility is due to either welfare-reducing income risk or welfare-enhancing catching-up of low-income individuals with high-income individuals, both of which have economically significant effects on social welfare. Decomposing mobility into its fundamental components is thus seen to be crucial from the standpoint of welfare evaluation"--Abstract.

Reviews

User-contributed reviews
Retrieving GoodReads reviews...
Retrieving DOGObooks reviews...

Tags

Be the first.
Confirm this request

You may have already requested this item. Please select Ok if you would like to proceed with this request anyway.

Linked Data


Primary Entity

<http://www.worldcat.org/oclc/826821943> # Income mobility and welfare
    a schema:MediaObject, schema:CreativeWork, schema:Book ;
    library:oclcnum "826821943" ;
    library:placeOfPublication <http://id.loc.gov/vocabulary/countries/dcu> ;
    library:placeOfPublication <http://experiment.worldcat.org/entity/work/data/3859290442#Place/washington_d_c> ; # Washington, D.C.
    rdfs:comment "Unknown 'gen' value: igp" ;
    schema:about <http://id.worldcat.org/fast/876457> ; # Consumption (Economics)--Econometric models
    schema:about <http://experiment.worldcat.org/entity/work/data/3859290442#Topic/income_mexico_econometric_models> ; # Income--Mexico--Econometric models
    schema:about <http://dewey.info/class/332.152/e22/> ;
    schema:about <http://id.worldcat.org/fast/968638> ; # Income--Econometric models
    schema:about <http://id.worldcat.org/fast/1173621> ; # Welfare economics--Econometric models
    schema:about <http://id.loc.gov/authorities/subjects/sh2009121704> ; # Consumption (Economics)--Econometric models
    schema:about <http://experiment.worldcat.org/entity/work/data/3859290442#Topic/welfare_economics_econometric_models> ; # Welfare economics--Econometric models
    schema:about <http://id.worldcat.org/fast/1122649> ; # Social mobility--Econometric models
    schema:about <http://id.worldcat.org/fast/1211700> ; # Mexico.
    schema:about <http://experiment.worldcat.org/entity/work/data/3859290442#Topic/social_mobility_mexico_econometric_models> ; # Social mobility--Mexico--Econometric models
    schema:about <http://experiment.worldcat.org/entity/work/data/3859290442#Topic/business_&_economics_banks_&_banking> ; # BUSINESS & ECONOMICS--Banks & Banking
    schema:bookFormat schema:EBook ;
    schema:contributor <http://viaf.org/viaf/151244864> ; # International Monetary Fund. Research Department.
    schema:contributor <http://viaf.org/viaf/85094832> ; # Pravin Krishna
    schema:contributor <http://viaf.org/viaf/11904359> ; # William Francis Maloney
    schema:copyrightYear "2013" ;
    schema:creator <http://viaf.org/viaf/57721535> ; # Tom Krebs
    schema:datePublished "2013" ;
    schema:description ""This paper develops a framework for the quantitative analysis of individual income dynamics, mobility and welfare. Individual income is assumed to follow a stochastic process with two (unobserved) components, an i.i.d. component representing measurement error or transitory income shocks and an AR(1) component representing persistent changes in income. We use a tractable consumption-saving model with labor income risk and incomplete markets to relate income dynamics to consumption and welfare, and derive analytical expressions for income mobility and welfare as a function of the various parameters of the underlying income process. The empirical application of our framework using data on individual incomes from Mexico provides striking results. Much of measured income mobility is driven by measurement error or transitory income shocks and therefore (almost) welfare-neutral. A smaller part of measured income mobility is due to either welfare-reducing income risk or welfare-enhancing catching-up of low-income individuals with high-income individuals, both of which have economically significant effects on social welfare. Decomposing mobility into its fundamental components is thus seen to be crucial from the standpoint of welfare evaluation"--Abstract."@en ;
    schema:exampleOfWork <http://worldcat.org/entity/work/id/3859290442> ;
    schema:genre "Government publication"@en ;
    schema:genre "Electronic books"@en ;
    schema:inLanguage "en" ;
    schema:isPartOf <http://experiment.worldcat.org/entity/work/data/3859290442#Series/imf_working_paper> ; # IMF working paper ;
    schema:name "Income mobility and welfare"@en ;
    schema:productID "826821943" ;
    schema:publication <http://www.worldcat.org/title/-/oclc/826821943#PublicationEvent/washington_d_c_international_monetary_fund_2013> ;
    schema:publisher <http://experiment.worldcat.org/entity/work/data/3859290442#Agent/international_monetary_fund> ; # International Monetary Fund
    schema:url <http://www.myilibrary.com?id=457749> ;
    schema:url <http://www.imf.org/external/pubs/ft/wp/2013/wp1324.pdf> ;
    schema:url <http://bibpurl.oclc.org/web/24285/2013/wp1324.pdf> ;
    schema:url <http://public.eblib.com/choice/publicfullrecord.aspx?p=1607181> ;
    schema:url <http://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&db=nlabk&AN=548040> ;
    schema:url <http://proxy.library.carleton.ca/login?url=http://elibrary.imf.org/view/IMF001/20243-9781475551433/20243-9781475551433/20243-9781475551433.xml> ;
    schema:url <http://ebookcentral.proquest.com/lib/ucm/detail.action?docID=1607181> ;
    schema:url <http://site.ebrary.com/id/10687611> ;
    schema:workExample <http://worldcat.org/isbn/9781475536348> ;
    wdrs:describedby <http://www.worldcat.org/title/-/oclc/826821943> ;
    .


Related Entities

<http://experiment.worldcat.org/entity/work/data/3859290442#Agent/international_monetary_fund> # International Monetary Fund
    a bgn:Agent ;
    schema:name "International Monetary Fund" ;
    .

<http://experiment.worldcat.org/entity/work/data/3859290442#Place/washington_d_c> # Washington, D.C.
    a schema:Place ;
    schema:name "Washington, D.C." ;
    .

<http://experiment.worldcat.org/entity/work/data/3859290442#Series/imf_working_paper> # IMF working paper ;
    a bgn:PublicationSeries ;
    schema:hasPart <http://www.worldcat.org/oclc/826821943> ; # Income mobility and welfare
    schema:name "IMF working paper ;" ;
    .

<http://experiment.worldcat.org/entity/work/data/3859290442#Topic/business_&_economics_banks_&_banking> # BUSINESS & ECONOMICS--Banks & Banking
    a schema:Intangible ;
    schema:name "BUSINESS & ECONOMICS--Banks & Banking"@en ;
    .

<http://experiment.worldcat.org/entity/work/data/3859290442#Topic/social_mobility_mexico_econometric_models> # Social mobility--Mexico--Econometric models
    a schema:Intangible ;
    schema:hasPart <http://id.loc.gov/authorities/subjects/sh85123976> ;
    schema:name "Social mobility--Mexico--Econometric models"@en ;
    .

<http://id.loc.gov/authorities/subjects/sh2009121704> # Consumption (Economics)--Econometric models
    a schema:Intangible ;
    schema:name "Consumption (Economics)--Econometric models"@en ;
    .

<http://id.worldcat.org/fast/1122649> # Social mobility--Econometric models
    a schema:Intangible ;
    schema:name "Social mobility--Econometric models"@en ;
    .

<http://id.worldcat.org/fast/1173621> # Welfare economics--Econometric models
    a schema:Intangible ;
    schema:name "Welfare economics--Econometric models"@en ;
    .

<http://id.worldcat.org/fast/1211700> # Mexico.
    a schema:Place ;
    schema:name "Mexico." ;
    .

<http://id.worldcat.org/fast/876457> # Consumption (Economics)--Econometric models
    a schema:Intangible ;
    schema:name "Consumption (Economics)--Econometric models"@en ;
    .

<http://id.worldcat.org/fast/968638> # Income--Econometric models
    a schema:Intangible ;
    schema:name "Income--Econometric models"@en ;
    .

<http://viaf.org/viaf/11904359> # William Francis Maloney
    a schema:Person ;
    schema:birthDate "1959" ;
    schema:familyName "Maloney" ;
    schema:givenName "William Francis" ;
    schema:givenName "William F." ;
    schema:name "William Francis Maloney" ;
    .

<http://viaf.org/viaf/151244864> # International Monetary Fund. Research Department.
    a schema:Organization ;
    schema:name "International Monetary Fund. Research Department." ;
    .

<http://viaf.org/viaf/57721535> # Tom Krebs
    a schema:Person ;
    schema:familyName "Krebs" ;
    schema:givenName "Tom" ;
    schema:name "Tom Krebs" ;
    .

<http://viaf.org/viaf/85094832> # Pravin Krishna
    a schema:Person ;
    schema:familyName "Krishna" ;
    schema:givenName "Pravin" ;
    schema:name "Pravin Krishna" ;
    .

<http://worldcat.org/isbn/9781475536348>
    a schema:ProductModel ;
    schema:isbn "1475536348" ;
    schema:isbn "9781475536348" ;
    .


Content-negotiable representations

Close Window

Please sign in to WorldCat 

Don't have an account? You can easily create a free account.