The Myth of Post-Reform Income Stagnation

Economic policies are often judged by a handful of statistics, some of which may be biased during periods of change. We estimate the income growth implied by the evolution of food demand and durable good ownership in post-reform Brazil and Mexico, and find that changes in consumption patterns are inconsistent with official estimates of near stagnant incomes. That is attributed to biases in the price deflator. The estimated unmeasured income gains are higher for poorer households, implying marked reductions in ""real"" inequality. These findings challenge the conventional wisdom that post-refor

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Year of publication:	2008
Authors:	Carvalho Filho, Irineu E.
Other Persons:	Chamon, Marcos (contributor)
Publisher:	Washington : International Monetary Fund
Subject:	Wirtschaftswachstum \| Economic growth \| Nationaleinkommen \| National income

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Extent:	Online-Ressource (54 p)
Series:	IMF Working Papers IMF Working Paper ; WP/8/197
Type of publication:	Book / Working Paper
Language:	English
Notes:	Description based upon print version of record Contents; I. Introduction; II. Empirical Methodology; III. Brazil; A. Background on Economic Policy Changes; B. Data; C. Results; D. Evidence from Durable Goods Ownership and Anthropometrics; E. Food Consumption in the 1970s; IV. Mexico; A. Background on Economic Policy Changes; B. Data; C. Results; D. Evidence from Durable Goods Ownership and Anthropometrics; V. Discussion and Conclusion; Text Tables; 1. Descriptive Statistics for Brazil; 2. Regression Results for Brazil, Full Sample; 3. Annual Bias Estimates for Brazil Across Different Methods and Samples 4. Household Per Capita Expenditure and Net Income in Brazil5. Anthropometric Measures for Children 0-60 Months Old in Brazil; 6. Brazil: Ownership of Durable Goods, and Sensitivity to Income; 7. Descriptive Statistics for Mexico; 8. Regression Results for Mexico, Pooled Sample; 9. Household Per Capita Expenditure and Net Income in Mexico: Headline And Corrected (in 2002 Pesos); 10. Anthropometric Measures for Children 0-60 Months Old in Mexico; 11. Mexico: Ownership for Durable Goods, and Sensitivity to Income; Text Figures; 1. Brazil: GDP Per Capita and Average Growth in Decade 2. Mexico: GDP Per Capita and Average Growth in Decade3. Changes in Relative Prices in Brazil; 4. Non-Parametric Estimates of Relationship between Food Shares and Household Expenditure in Brazil; 5A. Estimated Bias in Brazil in 1987/88-1995/96 as a Function of CPI-Measured Real Expenditure in 1995/96; 5B. Estimated Bias in Brazil 1995/96-2002/03 as a Function of CPI-Measured Real Expenditure in 2002/03; 6A. Distribution of Expenditure in Brazil Deflated by the CPI: 87/88, 95/96 and 02/03 6B. Distribution of Expenditure in Brazil Deflated by the Estimated True Cost of Living Index: 97/88, 95/96 and 02/037A. Changes in Durable Goods Holdings in Brazil and Sensitivity to Income; 7B. Changes in Durable Goods Holdings in Brazil and Sensitivity to Income; 8. Evolution of the Food Budget Share in Brazil since in 1974/75-2002/03; 9. Changes in Relative Prices in Mexico; 10. Non-Parametric Estimates of Relationship Between Food Budget Shares And Household Expenditure in Mexico 11A. Estimated Bias in Mexico in 1984-1998 as a Function of CPI-Measured Real Expenditure in 1998 and Distribution of the Latter11B. Estimated Bias in Mexico in 1998-2006 as a Function of CPI-Measured Real Expenditure in 2006 and Distribution of the Latter; 12. Estimated Cumulative Bias in Mexico Since 1984 Across Different Methods and Samples; 13A. Distribution of CPI-Measured Real Expenditure in Mexico; 13B. Distribution of Expenditure in Mexico Deflated by the Estimated True Cost of Living Index; 14A. Changes in Durable Goods Holdings in Mexico and Sensitivity to Income 14B. Changes in Durable Goods Holdings in Mexico and Sensitivity to Income
ISBN:	978-1-4518-7055-8 ; 978-1-4519-1508-2 ; 978-1-4518-7055-8
Source:	ECONIS - Online Catalogue of the ZBW

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