Distribution of Income and Wealth in Ontario

Theory and Evidence

Charles Beach, Frank Flatters, David Card

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English

University of Toronto Press
15 December 1981

Finance & accounting; Financial reporting, financial statements; Finance; Credit & credit institutions; Banking & finance: study & revision guides

Series: Heritage

Distribution analysis has advanced remarkably in recent years, and this is a valuable application of its principles to a Canadian context. The book provides an extensive survey of recent literature and a new source of income and wealth distribution data for Ontario, drawn from newly available microdata sets. It also presents an evaluation of the data as a basis for measuring inequality in the distribution of economic and well-being.

The empirical results illustrate how incomes vary significantly with age according to labour market attachment and experience, educational attainment and occupation, transfer receipts, and investment benefits. Similarly, strong age effects on net worth account reflect life-cycle patterns in asset holdings and debts typically associated with family investment in housing and financial adjustments for retirement. Differences in family size and composition have a substantial effect on the structure of family economic well-being. The inequality effects of adjusting for accrued capital gains and net worth holdings can also be quite significant. It is found that the distributional effects of CPP net benefits are considerable, although they are not as equalizing as one may have expected because of marked cohort effects.

The detailed findings suggest that the life-cycle framework is a very useful one for evaluating the distributional effects of certain government programs, particularly intertemporal ones, and they underline the need for a range of different types of policies to address low income problems. The study urges greater recognition of the inequality of treatment and opportunity among different groups of the population. It also points out that conventional income distribution figures are only very imperfect estimates of the state of inequality in the underlying distribution of economic well-being.

By: Charles Beach, Frank Flatters, David Card
Imprint: University of Toronto Press
Country of Publication: Canada
Dimensions: Height: 229mm, Width: 152mm, Spine: 24mm
Weight: 560g
ISBN: 9780802033697
ISBN 10: 0802033695
Series: Heritage
Pages: 277
Publication Date: 15 December 1981
Audience: College/higher education , Professional and scholarly , Primary , Undergraduate
Format: Paperback
Publisher's Status: Active

Charles M. Beach is Professor Emeritus of the Department of Economics at Queen's University, Ontario. Frank Flatters is Professor Emeritus of the Department of Economics at Queen's University. David E. Card is Professor of Economics at the University of California, Berkeley and Director of the Labor Studies Program at the National Bureau of Economic Research.