New (old) paper on US income distribution and re-distributive policies.

The Review of Keynesian Economics just last month published a paper I wrote with Lance Taylor, Armon Rezai, Laura Carvalho and Nelson Barbosa. At the moment the paper is open-access (link). These results were put together a couple of years ago with the main features being (a) The US economy functions as a transfer union and (b) The disparities in income are too huge to be overcome by feasible tax-transfer policies.

In the construction of data, we developed a dis-aggregated social accounting matrix model which bins household incomes into percentiles of the income distribution and makes estimates of consumption/saving based on logarithmic interpolation.

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