Class Notes 040708 Poverty and Income Maintenance

Class Notes 040708 Poverty and Income Maintenance - Poverty...

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4/7/08 Poverty and Income Maintenance Today : Focus on measuring income distribution, poverty, alternative measures of economic well-being Wednesday : Focus will be on welfare policy, both theory and actual changes last decade Measuring Income Distribution How? Use surveys; focus here is on Current Population Survey (CPS). CPS is monthly, ask about income every March Many other surveys; CE, SIPP, ACS, PSID, HRS, SCF, SOI What is income? CRS has categories: 1. Earnings 2. Unemployment 3. Worker’s Comp. 4. Social security 5. Supplemental Security Inc. 6. Public assistance 7. Veteran’s Payments 8. Survivor benefits 9. Disability benefits 10.Pension/retirement 11.Interest 12.Dividends 13.Rents, trusts 14.Educational Assistance 15.Alimony 16.Child support 17.Financial assistance 18.Other income Surveys depend on human recollection for accuracy How questions are asked really matters; should be cautious about derived statistics Still, data from CPS is most commonly used for measuring income distribution
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This note was uploaded on 04/28/2008 for the course ECON 401 taught by Professor Sabelhaus during the Spring '08 term at Maryland.

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Class Notes 040708 Poverty and Income Maintenance - Poverty...

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