The Behavior of Income Shares, Selected Theoretical and Empirical Issues; Studies in Income and Wealth, Volume Twenty-Seven, by The Conference on Research in Income and Wealth

Descripción

x, 394, [4] pages. Footnotes. Tables. The name of previous owner is stamped on the front free endpaper and bottom edge. Includes Introduction; A Survey of Some Theories of Income Distribution; Factor Shares in the Long Term: Some Theoretical and Statistical Aspects; Capital, Labor, and Income in Manufacturing; Short-Run Movements of Income Shares; Long-Run Changes in the Distribution of Income by Factor Shares in Canada; The Analysis of Factor Shares by Industry, by Michael Gort; The Estimation of Produced Income by State and Region; General Comment by A. Ross Eckler; and an Index. The first three papers consider the long-run determinants of factor shares; the fourth deals with short-run shares; the fourth deals with short-run movements. Both theoretical and empirical aspects of the subject are discussed. Income shares in the Canadian economy are discussed in the next paper, primarily in terms of the long run, but with a supplement on short-run fluctuations. The final two papers take up special problems: the measurement of factor shares by industry, and the estimation of income produced on a state and regional basis. THE Conference on the Behavior of Income Shares held in New York in April 1961 covered a wide range of issues and approaches. The first three papers by Scitovslcy, Lebergott, and Solow are devoted to a general consideration of the determinants of factor shares in the long run. The first paper is primarily a survey of current theory; the latter two include considerable empirical material as well. The paper by Schultze is also a theoretical and empirical paper, but it deals with short-run movements in shares and emphasizes the impact of cyclical changes in shares on the movement of output. In the fifth paper, Simon Goldberg provides a comprehensive study of long-run income shares for the Canadian economy, and a supplement by Frank Leacy analyzes the short-run fluctuations. The final two papers take up special problems: Michael Gort is concerned with the conceptual and measurement problems of factor shares by industry and George Borts copes with the difficult issues involved in estimating income produced on a state and regional basis. A number of positive contributions were made by the discussants, many of whom went beyond a critique of the main papers, introducing new approaches and in some cases new data. In summary, the conference made much progress in particular areas, but many basic problems of theory, of concept, and of data adequacy remain unresolved. In the opening paper of the Conference, Scitovsky surveys the major competing theories of income distribution. As he points out, there are four possible subjects that theories of income distribution could deal with: the distribution of income by occupations, by size, by factor shares, and by the income categories of the official personal income accounts. It is with the third classification, functional distribution, that Scitovsky is mainly concerned. Two different streams of theory can be distinguished in the literature dealing with functional income distribution. The first concentrates on the individual decision processes of business firms and factor suppliers. It is consequently microeconomic in orientation, and usually, although not universally, oriented towards a marginal productivity approach. The second major stream of theory, currently represented by the work of Phelps-Brown and Kaldor, is macroeconomic in character, and is based upon an aggregate, Keynesian-type framework.

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Título

The Behavior of Income Shares, Selected Theoretical and Empirical Issues; Studies in Income and Wealth, Volume Twenty-Seven, by The Conference on Research in Income and Wealth

Editor

Princeton University Press, Princeton, New Jersey

Fecha de publicación

1964

Encuadernación

Hardcover

Edición

Presumed First Edition, First printing.

Estado

Very good

Estado de la sobrecubierta

Very good