 On Measuring the Redistribution of Lifetime IncomeRichard Layard
Chapter 4 in The Economics of Public Services, 1977, pp 45-72 from Palgrave Macmillan Abstract: Abstract Much so-called redistribution is between similar people at different stages of life or fortune. The proper approach, therefore, is to look at redistribution between lifetime incomes. But this raises problems of choosing the discount rate and of specifying the assumptions about alternative policies. After discussion of these, attention is focused on specific problems that arise in relation to education, especially the distinction between incidence on parents and on children. Finally, the lifetime approach is applied to various educational policy options in Britain. Here only the effects on children are examined, using a new British earnings function. For any policy, this generates a distribution of incomes (present values). Each distribution is measured for equality, using the Atkinson index, so that a policy is desirable if it raises equality proportionately more than it reduces average income. Keywords: Discount Rate; Lorenz Curve; Social Welfare Function; Distributional Issue; Inequality Measure (search for similar items in EconPapers) There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:pal:intecp:978-1-349-02917-4_4 Ordering information: This item can be ordered from DOI: 10.1007/978-1-349-02917-4_4 Access Statistics for this chapter More chapters in International Economic Association Series from Palgrave Macmillan |
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