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Review of Income and Wealth

Опубликовано на портале: 12-12-2002
Paul Schreyer Review of Income and Wealth. 2002.  Vol. 48. No. 1. P. 15-32. 
Methodologies to derive price indices for information and communication technology (ICT) products vary between national statistical offices. This may lead to significant differences in measured price changes for these products and there has been concern about the international comparability of volume growth rates of GDP between several OECD countries. This article discusses the possible consequences for measures of economic growth of replacing one set of price indices by another one in the framework of national accounts. It is argued that the issue of ICT deflators cannot be dealt with in isolation and several other factors have to be taken into account, in particular whether ICT products are final or intermediate products, whether they are imported or domestically produced and whether national accounts are set up with fixed or chain weighted index numbers. Overall, results point to modest effects at the aggregate GDP level but may be more significant when it comes to component measures such as volume growth of investment, or of output in particular industry.
Опубликовано на портале: 12-12-2002
Branko Milanovic, Shlomo Yizhaki Review of Income and Wealth. 2002.  Vol. 48. No. 2.
Using the national income/expenditure distribution data from 111 countries, we decompose total inequality between the individuals in the world, by continents and regions. We use Yitzhakis Gini decomposition which allows for an exact breakdown of the Gini. We find t hat Asia is the most heterogeneous continents; between-country inequality is much more important than inequality in incomes within countries. At the other extreme is Latin America where differences between the countries are small, but inequalities within the countries are large. Western Europe/North America is fairly homogeneous both in terms of countries mean incomes and income differences between individuals. If we divided the world population into three groups: The rich (those with incomes greater than Italys mean income), the poor (those with income less than Western countries poverty lie), and the middle class, we find that there are only 11 percent of people who are world middle class; 78 percent are poor, and 11 percent are rich.