Household Earnings and Income Volatility in the UK, 2009-2017
Household Earnings and Income Volatility in the UK, 2009-2017
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2009-2017 年英国家庭收入和收入波动
DOI：
10.1007/s10888-021-09517-3
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发表时间：
2021
期刊：
影响因子：
--
通讯作者：
Avram S
中科院分区：
文献类型：
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作者：
Avram S
我们研究了2009-2017年英国个人和家庭收入来源的波动性，这是在大衰退和政府紧缩之后。我们发现，（税前）收入和可支配收入的波动性下降的工作年龄在此期间，主要是由于较少的负面和大的收入冲击。对于老年人，我们还发现私人收入的波动性下降，主要是由于积极和大的收入冲击减少。税收和转移支付有助于稳定收入，社会保障现金福利和依赖收入的可退还税收抵免将工作年龄的家庭私人收入波动降低了约四分之一，60岁或以上的家庭私人收入波动降低了40%。然而，在抽样期间，税收和福利与收入的相关性降低，削弱了它们抵消劳动收入波动的能力。研究结果说明了财政紧缩和削减福利对收入稳定性的影响。
We study the volatility of sources of individual and household level income in the UK in the years 2009-2017, following the Great Recession and government austerity. We find that the volatility of (pre-tax) earnings and disposable income has fallen for the working-age in this period, largely due to fewer negative and large earnings shocks. For older individuals, we also find a fall in the volatility of private income, mainly due to fewer positive and large income shocks. Taxes and transfers help stabilise incomes, with social security cash benefits and income-dependent refundable tax credits reducing household private income volatility by around a quarter for the working age, and 40 percent for those aged 60 or over. However, over the sample period, taxes and benefits became less well correlated with earnings, reducing their ability to counteract swings in labour income. The findings illustrate the consequences of fiscal retrenchment and the cut-backs to welfare benefits on the stability of incomes.