Creating an Integrated System of Data and Statistics on Household Income, Consumption, and Wealth Time to Build (2024) / Chapter Skim
Currently Skimming:
1 Introduction and Overview
1 Introduction and Overview
Pages 17-58
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; inclusion of particular components (e.g., PREPUBLICATION COPY, UNCORRECTED PROOFS
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statistical agencies and international groups that focused on developing household distributions of income, consumption, PREPUBLICATION COPY, UNCORRECTED PROOFS
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However, such comparisons are misleading as they compare an average to a PREPUBLICATION COPY, UNCORRECTED PROOFS
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Often the discourse simply focuses on one of PREPUBLICATION COPY, UNCORRECTED PROOFS
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is similar to the CBO measure showing large volatility and an increase over the period. Some researchers even suggest that there is no need to worry about increased income inequality, because consumption inequality is so much lower -- and not rising as much (Meyer & Sullivan, PREPUBLICATION COPY, UNCORRECTED PROOFS
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recommends using multiple metrics, and even a PREPUBLICATION COPY, UNCORRECTED PROOFS
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King (1927) produced PREPUBLICATION COPY, UNCORRECTED PROOFS
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, the impacts of life-cycle changes in income, consumption and wealth, evaluating how spending changes with new government cash transfers and tax policy changes, what impact changes in income, PREPUBLICATION COPY, UNCORRECTED PROOFS
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argued that saving, spending, and the accumulation of wealth cannot be reliably studied without consistent data across all three PREPUBLICATION COPY, UNCORRECTED PROOFS
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In turn, the shifts in demographics and household structure, coupled with the changing economic environment, have direct impacts on the dynamics of the economy. With better ICW data, researchers and policy makes can identify households' financial needs possibly before they turn into big problems, and PREPUBLICATION COPY, UNCORRECTED PROOFS
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Debts, unlike assets, cannot be passed on to one's children in the United States. But longer-term unsecured debts also preclude the ability to make transfers to PREPUBLICATION COPY, UNCORRECTED PROOFS
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. Stimulated by Krueger's focus on the Great Gatsby Curve, there has been much research on various aspects of intergenerational mobility (see Corak, 2013, for income; Pfeffer & PREPUBLICATION COPY, UNCORRECTED PROOFS
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Assessing the effects of intragenerational mobility or wealth accumulation across the life course and addressing how intergenerational mobility is affected by transfers of money across PREPUBLICATION COPY, UNCORRECTED PROOFS
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For consistent, informative statistics on ICW, statistics-producing agencies will need to integrate multiple data sources (e.g., surveys and administrative records) to improve data quality and agree on preferred PREPUBLICATION COPY, UNCORRECTED PROOFS
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Consequently, problems of inconsistent concepts and other features are likely to persist without a sustained effort to PREPUBLICATION COPY, UNCORRECTED PROOFS
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In addition, the microdata need to be accessible by both agency PREPUBLICATION COPY, UNCORRECTED PROOFS
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The Chief Statistician, along with the Interagency Council on Statistical Policy, helps fulfill the vision of the federal statistical system, "…to operate as a seamless system, as stewards of much of the nation's most sensitive data, enabling greater evidence building, civic engagement, and public and private sector decision making." (see PREPUBLICATION COPY, UNCORRECTED PROOFS
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. Chapter 6 presents methods of data access and ensuring data confidentiality, proposes a governance structure to encourage 19 See NSDS site at NSF, https://ncses.nsf.gov/about/national-secure-data-service-demo PREPUBLICATION COPY, UNCORRECTED PROOFS
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The Gini index is equal to 2 times this area. Therefore, the further away the PREPUBLICATION COPY, UNCORRECTED PROOFS
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One advantage of the Theil and Atkinson inequality measures is that they can be used to examine the impact of inequality attributable to different groups of the populations (e.g., by age, PREPUBLICATION COPY, UNCORRECTED PROOFS
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Third, what are the sources of saving, which fund investment in future production? The conceptual framework of the accounts is organized into seven summary accounts (domestic income and product account, private enterprise income account, personal income and outlay account, government receipts and expenditures account, PREPUBLICATION COPY, UNCORRECTED PROOFS
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