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Decomposing Inequality and Social Welfare Changes: The Use of Alternative Welfare Metrics

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dc.contributor.author Creedy, John
dc.contributor.author Hérault, Nicolas
dc.date.accessioned 2012-09-23T21:05:44Z
dc.date.accessioned 2022-07-05T02:39:21Z
dc.date.available 2012-09-23T21:05:44Z
dc.date.available 2022-07-05T02:39:21Z
dc.date.copyright 2012
dc.date.issued 2012
dc.identifier.uri https://ir.wgtn.ac.nz/handle/123456789/18714
dc.description.abstract This paper presents two ‘non-welfarist’ approaches and one ‘welfarist’ approach to decompose changes in inequality and social welfare into three components: population, tax policy and labour supply effects. As an illustration, changes in inequality and in values of a social welfare function in Australia between 2001 and 2006 are examined. Inequality is first defined in non-welfarist terms as a function of disposable income: the independent judge places no value on leisure. Then this is modified to allow for evaluations using a weighted geometric mean of disposable income and leisure. This is seen to modify the evaluation of changes in important ways. Furthermore, the results are shown to be quite different from those obtained using a ‘welfarist’ evaluation in terms of money metric utility, where separate behavioural effects cannot be isolated. en_NZ
dc.format pdf en_NZ
dc.language.iso en_NZ
dc.publisher Te Herenga Waka—Victoria University of Wellington en_NZ
dc.relation.ispartofseries Working Papers in Public Finance 2012 en_NZ
dc.subject Social Welfare en_NZ
dc.subject Inequality en_NZ
dc.subject Alternative Welfare Metrics en_NZ
dc.title Decomposing Inequality and Social Welfare Changes: The Use of Alternative Welfare Metrics en_NZ
dc.type Text en_NZ
vuwschema.contributor.unit Victoria Business School (Faculty of Commerce) en_NZ
vuwschema.subject.marsden 140219 Welfare Economics en_NZ
vuwschema.type.vuw Working or Occasional Paper en_NZ
vuwschema.subject.anzsrcforV2 380113 Public economics - public choice en_NZ
dc.rights.rightsholder http://www.victoria.ac.nz/sacl en_NZ

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