Distribution of Income and Wealth in Ontario : Theory and Evidence.

Cover -- CONTENTS -- ACKNOWLEDGMENTS -- Introduction -- PART ONE: EXPLANATION OF INEQUALITY -- 2 Supply determinants and life-cycle behaviour -- Introduction -- Life-cycle saving and wealth accumulation -- Human capital investment and earnings -- Life-cycle labour supply and earnings -- Occupational choice and earnings differentials -- Household time allocation, production, and bequests -- Conclusions and implications -- 3 Selected demand-side determinants of the distribution of income -- Introduction -- Specific human capital and wage profiles -- Screeening, education, and the distribution of earnings -- Labour market discrimination -- Internal labour markets and hierarchy models -- Concluding remarks -- 4 Distributional aggregation -- Introduction -- Matching up demand and supply in the labour market -- Institutional restrictions in the labour market: labour unions -- Age-income cross-sections and cohort effects -- Demographic effects on over-all distribution -- Concluding remarks -- PART TWO: DATA ON DISTRIBUTION OF INCOME AND WEALTH -- 5 On measuring inequality -- What is a distribution? -- Characterizing inequality -- Evaluating inequality -- 6 Incomes of individuals -- Introduction -- Differences in income by sex and age -- Characteristics by age and income -- Educational and occupational differences in income -- General conclusions -- 7 Incomes of family units -- Introduction -- Differences by sex and age of head of family -- Different characteristics of families -- Education and occupation of head of family -- Sources of income by age and income -- General conclusions -- 8 Distribution of family wealth -- Introduction -- Distribution of net worth in Ontario -- Distribution of assets -- Composition of assets -- Distribution of debts -- General conclusions -- PART THREE: IMPUTATIONS AND ADJUSTMENTS TO THE DISTRIBUTION OF INCOME.

9 Disposable income, under-reporting, and omitted receipts -- Introduction -- Primary, total, and disposable income -- Underreporting of incomes -- Imputation for income in kind -- Summary -- 10 Adjustment for cost of living and size of family -- Introduction -- Adjustment for differences in place of residence -- Adjustment for differences in size of family: per capita family income -- Adult-equivalent income adjustment -- Extended adult-equivalent income adjustment -- Summary -- 11 Adjustment for capital gains -- Introduction -- Adjustment procedure -- Empirical results -- Summary -- 12 Adjustment for family wealth holdings -- Introduction -- Weisbrod-Hansen adjustment for net worth -- An alternative adjustment for net worth -- Summary -- 13 Toward adjustment for net social security benefits: illustration with the Canada Pension Plan -- Introduction -- Description of the Canada Pension Plan -- Types of redistribution built into the CPP -- Measuring distributional characteristics of the CPP -- A model of the Canada Pension Plan -- Estimated distributional results of the CPP -- Summary -- 14 Summary and conclusions -- Summary -- Concluding remarks -- APPENDICES -- A: Measuring inequality of income -- Summary measures -- Lorenz curves and relative mean income curves -- Atkinson's inequality measure -- B: Definitions of terms used in Chapter 6 -- C: Definitions of asset components in Chapter 8 -- D: Computation of measures of income and wealth inequality -- E: Estimation of equity value of owner-occupied housing in Ontario -- F: Estimation of imputed assets -- G: Estimation of portfolio rates of capital gains -- H: The imputation procedure for net worth -- I: Derivation and implementation of the adjustment for utility-equivalent annuity income -- J: Details of the construction of the simulation model.

K: Earnings equations and participation proportions -- BIBLIOGRAPHY.

This book provides an extensive survey of recent literature and a new source of income and wealth distribution data for Ontario, drawn from newly available microdata sets. It also presents an evaluation of the data as a basis for measuring inequality in the distribution of economic and well-being.

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Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2024. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.