33 research outputs found
Pareto's Law of Income Distribution: Evidence for Germany, the United Kingdom, and the United States
We analyze three sets of income data: the US Panel Study of Income Dynamics
PSID), the British Household Panel Survey (BHPS), and the German Socio-Economic
Panel (GSOEP). It is shown that the empirical income distribution is consistent
with a two-parameter lognormal function for the low-middle income group
(97%-99% of the population), and with a Pareto or power law function for the
high income group (1%-3% of the population). This mixture of two qualitatively
different analytical distributions seems stable over the years covered by our
data sets, although their parameters significantly change in time. It is also
found that the probability density of income growth rates almost has the form
of an exponential function.Comment: Latex2e v1.6; 16 pages with 5 figure
Minimum Wages and Poverty with Income-Sharing
Textbook analysis tells us that in a competitive labor market, the introduction of a minimum wage in terms of poverty rather than in terms of unemployment. This paper makes three contributions to the basic theory of the minimum wage. First, we analyze the effects of a higher minimum wage in terms of poverty rather than in terms of unemployment. Second, we extend the standard textbook model to allow for income-sharing between employed and unemployed persons in society. Third, we extend the basic model to deal with income sharing within families. We find that there are situations in which a higher minimum wage raises poverty, others where it reduces poverty, and yet others in which poverty is unchanged. We characterize precisely how the poverty effect depends on four parameters: the degree of poverty aversion, the elasticity of labor demand, the ratio of the minimum wage to the poverty line, and the extent of income-sharing. Thus, shifting the perspective from unemployment to poverty leads to a considerable enrichment of the theory of the minimum wage
Health, work and economic well-being of older workers, aged fifty-one to sixty-one: a cross-national comparison using the U.S. HRS and the Netherlands CERRA data sets
United States policy toward the disabled and employment handicapped
SIGLEBibliothek Weltwirtschaft Kiel YY 11,378 / FIZ - Fachinformationszzentrum Karlsruhe / TIB - Technische InformationsbibliothekDEGerman