Found 22 article(s) for author 'Welfare'

The Economic Context for Reforming the Safety Net

The Economic Context for Reforming the Safety Net. Karen Dynan, November 6, 2019, Paper, “As we wrestle with the future of our safety net and social insurance programs, it is important to understand not only the features and outcomes associated with individual programs but also the broader economic context. This reflection piece discusses several relevant aspects of the macroeconomy and of economic and financial conditions facing households: rising government debt, slower macroeconomic growth, limited tools to fight future recessions, greater income inequality, and the financial struggles of households. It goes on to draw lessons for how we should reform our system of entitlement programs.Link

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A Unified Welfare Analysis of Government Policies

A Unified Welfare Analysis of Government Policies. Nathaniel Hendren, August 2018, Paper, “We conduct a comparative welfare analysis of 133 historical policy changes over the past half-century in the United States, focusing on policies in social insurance, education and job training, taxes and cash transfers, and in-kind transfers. For each policy, we use existing causal estimates to calculate both the benefit that each policy provides its recipients (measured as their willingness to pay) and the policy’s net cost, inclusive of long-term impacts on the government’s budget. We divide the willingness to pay by the net cost to the government to form each policy’s Marginal Value of Public Funds, or its “MVPF”. Comparing MVPFs across policies provides a unified method of assessing their impact on social welfare. Our results suggest that direct investments in low-income children’s health and education have historically had the highest MVPFs, on average exceeding 5. Many such policies have paid for themselves as governments recouped the cost of their initial expenditures through additional taxes collected and reduced transfers.Link

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Unequal Europe: Regional Integration and the Rise of European Inequality

Unequal Europe: Regional Integration and the Rise of European Inequality. Jason Beckfield, 2019, Book, “Argues that European integration causes the convergence and retrenchment of European welfare states. Shows that regional integration has important effects on European welfare states and income inequality in Europe over and above those of globalization. Develops the concept of “technocratic capitalism” as an interpretation of a predominant form of capitalism in the EU over the last thirty years.Link

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Production and Welfare: Progress in Economic Measurement

Production and Welfare: Progress in Economic Measurement. Dale Jorgenson, , Paper, “While the GDP was intended by its originators as a measure of production, the absence of a measure of welfare in the national accounts has led to widespread misuse of the GDP to proxy welfare. Measures of welfare are needed to appraise the outcomes of changes in economic policies and evaluate the results. Concepts that describe the income distribution, such as poverty and inequality, fall within the scope of welfare rather than production. This paper reviews recent advances in the measurement of production and welfare within the national accounts, primarily in the United States and international organizations. Expanding the framework beyond the national accounts has led to important innovations in the measurement of both production and welfare.Link

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Welfare and Distributional Impacts of Fair Classification

Welfare and Distributional Impacts of Fair Classification. Yiling Chen, 2018, Paper, “Current methodologies in machine learning analyze the effects of various statistical parity notions of fairness primarily in light of their impacts on predictive accuracy and vendor utility loss. In this paper, we propose a new framework for interpreting the effects of fairness criteria by converting the constrained loss minimization problem into a social welfare maximization problem.Link

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Cumulative Impacts of Conditional Cash Transfer Programs: Experimental Evidence from Indonesia

Cumulative Impacts of Conditional Cash Transfer Programs: Experimental Evidence from Indonesia. Rema Hanna, May 2018, Paper, “Conditional cash transfer (CCT) programs have spread worldwide, and are designed to promote comprehensive human capital investments in children, starting from encouraging pre-natal and maternal care and early childhood health interventions and continuing through incentivizing school attendance. Yet evaluating these claims over more than a few years is hard, as most CCT experiments extend the program to the control group after a short experimental period. This paper experimentally estimates the impacts of Indonesia’s cash transfer program (PKH) six years after the program launched, using data from about 14,000 households in 360 sub-districts across Indonesia, taking advantage of the fact that treatment and control locations remained largely intact throughout the period.Link

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A debt crisis is coming. But don’t blame entitlements

A debt crisis is coming. But don’t blame entitlements. Jason Furman, April 6, 2018, Opinion, “Martin Neil Baily, Jason Furman, Alan B. Krueger, Laura D’Andrea Tyson and Janet L. Yellen are all former chairs of the White House Council of Economic Advisers. The U.S. unemployment rate is down to 4.1 percent, and economic growth could well increase in 2018. Consumer and business confidence is high. What could go wrong?Link

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The Welfare Consequences of Taxing Carbon

The Welfare Consequences of Taxing Carbon. Dale Jorgenson, 2018, Paper, “We find CO2 emissions abatement to be invariant to the chosen recycling scheme. This means that policy makers need not compromise their environmental objectives when designing carbon tax swap options. We also find additional emissions reductions beyond the scope of coverage and points of taxation.Link

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