Title The myth of post-reform income stagnation : evidence from Brazil and Mexico / prepared by Irineu de Carvalho Filho and Marcos Chamon

Published Washington, D.C. : International Monetary Fund, [2008], ©2007 ©2007

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Description 1 online resource (52 pages) : illustrations (some color) Series IMF working paper ; WP/08/197 IMF working paper ; WP/08/197. Contents I. Introduction; II. Empirical Methodology; III. Brazil; A. Background on Economic Policy Changes; B. Data; C. Results; D. Evidence from Durable Goods Ownership and Anthropometrics; E. Food Consumption in the 1970s; IV. Mexico; A. Background on Economic Policy Changes; B. Data; C. Results; D. Evidence from Durable Goods Ownership and Anthropometrics; V. Discussion and Conclusion; Text Tables; 1. Descriptive Statistics for Brazil; 2. Regression Results for Brazil, Full Sample; 3. Annual Bias Estimates for Brazil Across Different Methods and Samples 4. Household Per Capita Expenditure and Net Income in Brazil5. Anthropometric Measures for Children 0-60 Months Old in Brazil; 6. Brazil: Ownership of Durable Goods, and Sensitivity to Income; 7. Descriptive Statistics for Mexico; 8. Regression Results for Mexico, Pooled Sample; 9. Household Per Capita Expenditure and Net Income in Mexico: Headline And Corrected (in 2002 Pesos); 10. Anthropometric Measures for Children 0-60 Months Old in Mexico; 11. Mexico: Ownership for Durable Goods, and Sensitivity to Income; Text Figures; 1. Brazil: GDP Per Capita and Average Growth in Decade 2. Mexico: GDP Per Capita and Average Growth in Decade3. Changes in Relative Prices in Brazil; 4. Non-Parametric Estimates of Relationship between Food Shares and Household Expenditure in Brazil; 5A. Estimated Bias in Brazil in 1987/88-1995/96 as a Function of CPI-Measured Real Expenditure in 1995/96; 5B. Estimated Bias in Brazil 1995/96-2002/03 as a Function of CPI-Measured Real Expenditure in 2002/03; 6A. Distribution of Expenditure in Brazil Deflated by the CPI: 87/88, 95/96 and 02/03 6B. Distribution of Expenditure in Brazil Deflated by the Estimated True Cost of Living Index: 97/88, 95/96 and 02/037A. Changes in Durable Goods Holdings in Brazil and Sensitivity to Income; 7B. Changes in Durable Goods Holdings in Brazil and Sensitivity to Income; 8. Evolution of the Food Budget Share in Brazil since in 1974/75-2002/03; 9. Changes in Relative Prices in Mexico; 10. Non-Parametric Estimates of Relationship Between Food Budget Shares And Household Expenditure in Mexico 11A. Estimated Bias in Mexico in 1984-1998 as a Function of CPI-Measured Real Expenditure in 1998 and Distribution of the Latter11B. Estimated Bias in Mexico in 1998-2006 as a Function of CPI-Measured Real Expenditure in 2006 and Distribution of the Latter; 12. Estimated Cumulative Bias in Mexico Since 1984 Across Different Methods and Samples; 13A. Distribution of CPI-Measured Real Expenditure in Mexico; 13B. Distribution of Expenditure in Mexico Deflated by the Estimated True Cost of Living Index; 14A. Changes in Durable Goods Holdings in Mexico and Sensitivity to Income Summary Economic policies are often judged by a handful of statistics, some of which may be biased during periods of change. We estimate the income growth implied by the evolution of food demand and durable good ownership in post-reform Brazil and Mexico, and find that changes in consumption patterns are inconsistent with official estimates of near stagnant incomes. That is attributed to biases in the price deflator. The estimated unmeasured income gains are higher for poorer households, implying marked reductions in "real" inequality. These findings challenge the conventional wisdom that post-reform income growth was low and did not benefit the poor Notes At head of title: Research Department "August 2008." Bibliography Includes bibliographical references (pages 49-52) Notes Print version record Subject Income -- Brazil -- Econometric models Income -- Mexico -- Econometric models Consumer price indexes -- Brazil -- Econometric models Consumer price indexes -- Mexico -- Econometric models Consumer price indexes -- Econometric models Economic history Economic policy -- Econometric models Income -- Econometric models SUBJECT Brazil -- Economic conditions -- 1985- -- Econometric models Brazil -- Economic policy -- Econometric models Mexico -- Economic conditions -- 1982-1994 -- Econometric models Mexico -- Economic conditions -- 1994- -- Econometric models Mexico -- Economic policy -- Econometric models Subject Brazil Mexico Form Electronic book Author Chamon, Marcos, author. International Monetary Fund. Research Department. ISBN 145191508X 9781451915082 9781451870558 1451870558

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