Читать книгу Engine of Inequality - Karen Petrou - Страница 25

1 * President Donald J. Trump, “Remarks by President Trump at the World Economic Forum” (January 21, 2020), available at https://www.whitehouse.gov/briefings-statements/remarks-president-trump-world-economic-forum-davos-switzerland/.

2 1. Board of Governors of the Federal Reserve System (FRB), “Distribution of Household Wealth in the U.S. since 1989,” DFA: Distributional Financial Accounts, updated December 23, 2019, available at https://www.federalreserve.gov/releases/z1/dataviz/dfa/distribute/chart/.

3 2. Alina K. Bartscher, Moritz Kuhn, Moritz Schularick, and Ulrike I. Steins, “Modigliani Meets Minsky: Inequality, Debt, and Financial Fragility in America, 1950–2016,” Federal Reserve Bank of New York Staff Report No. 924 (May 2020), available at https://www.newyorkfed.org/medialibrary/media/research/staff_reports/sr924.pdf.

4 3. Joint Center for Housing Studies of Harvard University (JCHS Harvard), “The State of the Nation's Housing 2019,” 11 (June 25, 2019), available at https://www.jchs.harvard.edu/sites/default/files/Harvard_JCHS_State_of_the_Nations_Housing_2019.pdf.

5 4. Federal Reserve Bank of New York (FRBNY) Research and Statistics Group, “Quarterly Report on Household Debt and Credit 2019: Q4,” FRBNY Center for Microeconomic Data, 3 (February 2020), available at https://www.newyorkfed.org/medialibrary/interactives/householdcredit/data/pdf/HHDC_2019Q4.pdf.

6 5. FRB, “Report on the Economic Well-Being of U.S. Households in 2019, Featuring Supplemental Data from April 2020,” 21 (May 14, 2020), available at https://www.federalreserve.gov/publications/files/2019-report-economic-well-being-us-households-202005.pdf.

7 6. Ibid., 22.

8 7. Bruce D. Meyer and James X. Sullivan, “Consumption and Income Inequality in the U.S. Since the 1960s,” AEI Economics Working Paper 2017-16 (August 2017), available at http://www.aei.org/publication/consumption-and-income-inequality-in-the-us-since-the-1960s/.

9 8. Jonathan Fisher, David Johnson, Timothy Smeeding, and Jeffrey P. Thompson, “Estimating the Marginal Propensity to Consume Using the Distributions of Income, Consumption, and Wealth,” Federal Reserve of Boston Department Working Paper 19-4 (February 2019), available at https://www.bostonfed.org/publications/research-department-working-paper/2019/estimating-the-marginal-propensity-to-consume-using-the-distributions-income-consumption-wealth.aspx.

10 9. Jonathan Fisher, David Johnson, Timothy Smeeding, and Jeffrey Thompson, “Inequality in 3-D: Income, Consumption, and Wealth,” FRB Finance and Economics Discussion Series (FEDS) 2018-001, available at https://www.federalreserve.gov/econres/feds/files/2018001pap.pdf.

11 10. Jesse Bricker an Alice Henriques Volz, “Wealth concentration levels and growth: 1989–2016,” FEDS Notes, FRB (February 20, 2020), available at https://www.federalreserve.gov/econres/notes/feds-notes/wealth-concentration-levels-and-growth-1989-2016-20200220.htm.

12 11. FRB, “Report on the Economic Well-Being of U.S. Households in 2019,” 11.

13 12. FRB Gov. Lael Brainard, Speech at “Renewing the Promise of the Middle Class,” 2019 Federal Reserve System Community Development Research Conference, Washington, DC: Is the Middle Class within Reach for Middle-Income Families? (May 10, 2019), available at https://www.federalreserve.gov/newsevents/speech/brainard20190510a.htm.

14 13. Census Bureau, “Table H-3. Mean Household Income Received by Each Fifth and Top 5 Percent,” Historical Income Tables: Income Inequality, accessed February 27, 2020, available at https://www.census.gov/data/tables/time-series/demo/income-poverty/historical-income-inequality.html.

15 14. Ibid.

16 15. Ibid.

17 16. Census Bureau, “Table H-2. Share of Aggregate Income Received by Each Fifth and Top 5 Percent of Households,” Historical Income Tables: Income Inequality, accessed February 27, 2020, available at https://www.census.gov/data/tables/time-series/demo/income-poverty/historical-income-inequality.html.

18 17. Facundo Alvaredo, Lucas Chancel, Thomas Piketty, Emmanuel Saez, and Gabriel Zucman, “World Inequality Report 2018,” World Inequality Lab, 80 (December 2017), available at https://wir2018.wid.world/files/download/wir2018-full-report-english.pdf.

19 18. Ibid.

20 19. Ibid.

21 20. Congressional Budget Office (CBO), “Projected Changes in Distribution of Household Income, 2016-2021,” 5 (December 2019), available at https://www.cbo.gov/system/files/2019-12/55941-CBO-Household-Income.pdf.

22 21. Ibid.

23 22. Juliana Menasce Horowitz, Ruth Igielnik, and Rakesh Kochhar, “Most Americans Say there Is Too Much Economic Inequality in the U.S., But Fewer than Half Call It a Top Priority” (January 9, 2020), available at https://www.pewsocialtrends.org/2020/01/09/trends-in-income-and-wealth-inequality/.

24 23. Ibid.

25 24. Ibid.

26 25. Emily Dohrman and Bruce Fallick, “Is the Middle Class Worse Off than It Used to Be?” Federal Reserve Bank of Cleveland Economic Commentary 2020-03 (February 12, 2020), available at https://www.clevelandfed.org/en/newsroom-and-events/publications/economic-commentary/2020-economic-commentaries/ec-202003-is-middle-class-worse-off.aspx.

27 26. FRB, “Distribution of Household Wealth in the U.S. since 1989.”

28 27. Ibid.

29 28. Ibid.

30 29. Kuhn, Schularick, and Steins, “Income and Wealth Inequality in America, 1949–2016,” 33.

31 30. Ibid.

32 31. Ibid.

33 32. Jonathan Heathcote, Fabrizio Perri, and Giovanni L. Violante, “The Rise of US Earnings Inequality: Does the Cycle Drive the Trend?” Federal Reserve Bank of Minneapolis Staff Report No. 604 (June 2020), available at https://www.minneapolisfed.org/research/staff-reports/the-rise-of-us-earnings-inequality-does-the-cycle-drive-the-trend.

34 33. Bruce Stokes, “A Decade After the Financial Crisis, Economic Confidence Rebounds in Many Countries,” Pew Research Center (September 18, 2018), available at http://www.pewglobal.org/2018/09/18/a-decade-after-the-financial-crisis-economic-confidence-rebounds-in-many-countries/?mod=article_inline.

35 34. William R. Emmons, Ana H. Kent, and Lowell R. Ricketts, “The Demographics of Wealth: How Education, Race and Birth Year Shape Financial Outcomes,” FRB St. Louis The Demographics of Wealth 2018 Series 5 (February 2018), available at https://www.stlouisfed.org/∼/media/Files/PDFs/HFS/essays/HFS_essay_1-2018.pdf?la=en.

36 35. Organization for Economic Cooperation and Development (OECD), A Broken Social Elevator? How to Promote Social Mobility, 27 (June 15, 2018), available at https://www.oecd.org/social/soc/Social-mobility-2018-Overview-MainFindings.pdf.

37 36. Moritz Kuhn, Moritz Schularick, and Ulrike I. Steins, “Income and Wealth Inequality in America, 1949–2016,” Federal Reserve Bank of Minneapolis Opportunity and Inclusive Growth Institute Working Paper 9 (June 2018), available at https://www.minneapolisfed.org/institute/working-papers-institute/iwp9.pdf.

38 37. Lisa J. Dettling, Joanne W. Hsu, Lindsay Jacobs, Kevin B. Morre, and Jeffrey P. Thompson, “Recent Trends in Wealth-Holding by Race and Ethnicity: Evidence from the Survey of Consumer Finances,” FEDS Notes, FRB (September 27, 2017), available at https://www.federalreserve.gov/econres/notes/feds-notes/recent-trends-in-wealth-holding-by-race-and-ethnicity-evidence-from-the-survey-of-consumer-finances-20170927.htm.

39 38. Jung Hyun Choi, “Breaking Down the Black-White Homeownership Gap,” Urban Institute (February 21, 2020), available at https://www.urban.org/urban-wire/breaking-down-black-white-homeownership-gap.

40 39. Census Bureau, “Quarterly Residential Vacancies and Homeownership, Fourth Quarter 2019,” Census Bureau Release No. CB20-05 (January 30, 2020), available at https://www.census.gov/housing/hvs/files/currenthvspress.pdf.

41 40. Ibid.

42 41. FRB, “Distribution of Household Wealth in the U.S. since 1989.”

43 42. Census Bureau, “Quick Facts: United States,” accessed February 24, 2020, available at https://www.census.gov/quickfacts/fact/table/US/PST045218.

44 43. National Urban League, Save Our Cities: Powering the Digital Revolution: State of Black America 2018, 42nd edition, 5 (May 2, 2017), available at http://www.ncbw-qcmc.org/uploads/1/0/2/9/102980742/nul-soba2018-executive_summary.pdf.

45 44. François Bourguignon, The Globalization of Inequality, translated by Thomas Scott-Railton (Princeton: Princeton University Press, 2015).

46 45. Alvaredo et al., “World Inequality Report,” 131.

47 46. Ibid., 156.

48 47. Ibid., 70.

49 48. Mary C. Daly, Joseph H. Pedtke, Nicolas Petrosky-Nadeau, and Annemarie Schweinert, “Why Aren't U.S. Workers Working?” FRB San Francisco Economic Letter 2018-24 (November 13, 2018), available at https://www.frbsf.org/economic-research/publications/economic-letter/2018/november/why-are-us-workers-not-participating/?utm_source=frbsf-home-economic-letter-title&utm_medium=frbsf&utm_campaign=economic-letter.

50 49. FRB, “Report on the Economic Well-Being of U.S. Households in 2019,” 15.

51 50. Jacob Fun Kirkegaard, “Is Denmark the new ‘American dream’?” Peterson Institute for International Economics Realtime Economic Issues Watch (February 21, 2020), available at https://www.piie.com/blogs/realtime-economic-issues-watch/denmark-new-american-dream#_ftn1.

52 51. FRB “Median value of before-tax family income for families with holdings by percentile of income,” 2016 Survey of Consumer Finances Chart Book, 7 (September 2017), available at https://www.federalreserve.gov/econres/files/BulletinCharts.pdf.

53 52. FRB, “Median value of net worth for families with holdings by percentile of income,” 2016 Survey of Consumer Finances Chart Book, 43 (September 2017), available at https://www.federalreserve.gov/econres/files/BulletinCharts.pdf

54 53. FRB, “Median value of before-tax family income.”

55 54. Ibid.