A Procedure for Evaluating Income Distribution Policies
The paper develops a procedure for evaluating the social benefits of income redistribution programs. The procedure makes social benefit a function of both the mean and the variance of family income and needs of the recipients over time, with sensitivity tests to see how benefits change under various assumptions about donor preferences. Costs include budget costs and any gains or losses in producer or consumer surplus. The procedure is applied to three income redistribution programs: negative income taxes, public employment, and minimum wages. Using longitudinal data, we simulate the income needs paths of 2000 families with and without the programs and compare the social benefits and costs for the three programs.
Year of publication: |
1979
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Authors: | Gramlich, Edward M. ; Wolkoff, Michael J. |
Published in: |
Journal of Human Resources. - University of Wisconsin Press. - Vol. 14.1979, 3
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Publisher: |
University of Wisconsin Press |
Saved in:
Online Resource
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