Lecture_9_2010_M - Intermediate Macroeconomics Bruce...

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Unformatted text preview: Intermediate Macroeconomics Bruce Preston February 16, 2010 Today The labo ma ke Fi ms demand fo labo Individuals suply of labo Labo ma ke equilib ium De e mina ion of p ices and quan i ies Poverty and Growth Regions that have experienced high growth (Asia) have also experienced high reductions in poverty Regions that have experiences negative growth have experi- enced big increases in poverty Regions of the world that have experienced little growth (Latin America, Arab World) have experience little improve- ments in poverty 18 Income Distribution can be used to ... Compute poverty rates: the percentage of people below some specified income or consumption Note this is an arbitrary concept Can compute various measures of inequality 19 Poverty Lines are Arbitrary Consumption or income? UN Millenium goals talk about income poverty. World Bank consumption poverty Original line 1$ a day in 1985 prices. Others have been pro- posed We shall use original line adjusted to 1996 prices $495 plus 15% loading for under reporting: $570 a year To get some sense of consumption: $826 since C/Y = 0 . 69 20 Extent of World Poverty: World Distribution of Income WDI-Various Years 50,000 100,000 150,000 200,000 250,000 300,000 $100 $1,000 $10,000 $100,000 thousands of people 1970 WDI-Various Years 50,000 100,000 150,000 200,000 250,000 300,000 $100 $1,000 $10,000 $100,000 thousands of people 1970 1980 WDI-Various Years 50,000 100,000 150,000 200,000 250,000 300,000 $100 $1,000 $10,000 $100,000 thousands of people 1970 1980 1990 WDI-Various Years 50,000 100,000 150,000 200,000 250,000 300,000 $100 $1,000 $10,000 $100,000 thousands of people 1970 1980 1990 2000 Source: Sala-i-Martins webpage World Distribution of Income 2000 WDI 2000 40,000 80,000 120,000 160,000 200,000 240,000 280,000 $100 $1,000 $10,000 $100,000 thousands of people Individual Countries World Source: Sala-i-Martins webpage USA: Distribution of Income USA 2,000 4,000 6,000 8,000 10,000 12,000 14,000 16,000 18,000 $100 $1,000...
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This note was uploaded on 02/27/2011 for the course ECONOMICS 201 taught by Professor P during the Spring '11 term at Columbia College.

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Lecture_9_2010_M - Intermediate Macroeconomics Bruce...

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