Income growth and its distribution from Eisenhower to Obama : the growing importance of in-kind transfers (1959-2016)
James Elwell, Kevin Corinth, Richard V. Burkhauser
We provide the first survey-based look at levels and trends in income and its distribution from 1959 to 2016 by linking Current Population Survey data from 1967 through 2016 with decennial Census data for 1959. We find that the dramatic decline in the market income of the middle class (measured as the median American tax unit or the mean value of the middle quintile of American tax units) began in 1969. However, we find that this decline was more than offset by government tax and transfer programs - especially in-kind transfers. Conventional measures of median income and income inequality that exclude the market value of in-kind transfers will substantially understate the impact of government policies in offsetting the stagnation of median market income growth and the rise in market income inequality since 1969.
Year of publication: |
November 2019
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Authors: | Elwell, James ; Corinth, Kevin ; Burkhauser, Richard V. |
Publisher: |
Bonn, Germany : IZA - Institute of Labor Economics |
Subject: | long-term growth trends (1959-2016) | median income | income inequality | survey-based CPS data | market income | valuing in-kind transfers | full-income series | Einkommensverteilung | Income distribution | Öffentliche Sozialleistungen | Social security benefits | Wirtschaftswachstum | Economic growth | USA | United States | 1959-2016 |
Saved in:
freely available
Extent: | 1 Online-Ressource (circa 63 Seiten) Illustrationen |
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Series: | Discussion paper series / IZA. - Bonn : IZA, ZDB-ID 2120053-1. - Vol. no. 12757 |
Type of publication: | Book / Working Paper |
Type of publication (narrower categories): | Graue Literatur ; Non-commercial literature ; Arbeitspapier ; Working Paper |
Language: | English |
Other identifiers: | hdl:10419/215153 [Handle] |
Classification: | D31 - Personal Income, Wealth and Their Distributions ; C81 - Methodology for Collecting, Estimating, and Organizing Microeconomic Data |
Source: | ECONIS - Online Catalogue of the ZBW |
Persistent link: https://www.econbiz.de/10012136882