Analysis of the Financial Effects of Basic Income

Gareth Morgan, Howard Reed and Malcolm Torry ()
Additional contact information
Gareth Morgan: Ferret Information Systems
Howard Reed: Landman Economics
Malcolm Torry: London School of Economics and Political Science

Chapter Chapter 11 in The Palgrave International Handbook of Basic Income, 2019, pp 191-211 from Palgrave Macmillan

Abstract: Abstract This chapter discusses the two most useful methods for analysing the financial effects of Basic Income schemes. Microsimulation modelling is the main empirical tool used to produce estimates of the costs and distributional impacts of Basic Income schemes. Reed explains how microsimulation modelling works by combining household survey data on incomes and characteristics across the population with information about how the tax and benefits system operates and about how the Basic Income scheme would operate. A worked example is offered. Torry then contributes a detailed analysis of another illustrative Basic Income scheme that retains and recalculates means-tested benefits. Morgan then applies a modelling scenario method to the same scheme in order to compare financial outcomes for some typical households.

Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:pal:etbchp:978-3-030-23614-4_11

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DOI: 10.1007/978-3-030-23614-4_11

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