ECON-A3000 - Principles of Empirical Analysis, Lecture, 10.1.2022-21.2.2022
This course space end date is set to 21.02.2022 Search Courses: ECON-A3000
Pre-class exercise 3
In our third lecture, we will discuss changes in real world income distribution. In order to facilitate discussion, I ask you to read an article “You're not imagining it: the rich really are hoarding economic growth” published in the news website Vox. Based on the article, submit a short summary through MyCourses that answers the following questions:
- Describe briefly what each of the three graphs shown in the article describe (note that the last graph appears twice; one description will suffice).
- The article also describes a debate between “conservative” and “liberal” economist on the shortcomings of data in earlier work. What is the main improvement in the new dataset created by Saez, Piketty and Zucman (and a legion of their research assistants) in comparison to what existed earlier?
- At the end of the article, there is a short discussion about another new paper on possible impact of taxation on pre-tax income inequality. Explain briefly the key argument Saez, Piketty and Stantcheva make in this paper.
Please recall that the idea of this exercise is just to give structure for your preparation, so please do not spend too much time in polishing your summaries. Evaluation will be on pass/fail basis. You can submit your summary through MyCourses "Assignments" section, and there is a hard deadline 15 minutes before the start of the class.
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Link to the article: https://www.vox.com/policy-and-politics/2017/8/8/16112368/piketty-saez-zucman-income-growth-inequality-stagnation-chart