UW-Madison ECON 102 - Inequality in Household Incomes, FRED, Models of the Aggregate Market (7 pages)

Previewing pages 1, 2 of 7 page document View the full content.
View Full Document

Inequality in Household Incomes, FRED, Models of the Aggregate Market



Previewing pages 1, 2 of actual document.

View the full content.
View Full Document
View Full Document

Inequality in Household Incomes, FRED, Models of the Aggregate Market

277 views

Inequalities in Household Income, FRED, Models of the Aggregate market, start of chapter 6


Lecture number:
4
Pages:
7
Type:
Lecture Note
School:
University of Wisconsin, Madison
Course:
Econ 102 - Principles of Macroeconomics
Edition:
1
Documents in this Packet

Unformatted text preview:

Econ 102 1st Edition Lecture 4 Outline of Last Lecture I Review from Last Lecture II Chapter 5 Definitions III What we can do with GDP Data IV 5 5 FLUCTUATIONS IN GDP V 5 6 GDP AS A MEASURE OF WELFARE Outline of Current Lecture I Inequality in Household income II Federal Reserve Economic Database aka FRED Start of Chapter 6 III A hint of things to come Models of the Aggregate labor market Current Lecture I Inequality in Household income a from Gwen Eudey s Lecture slides These notes represent a detailed interpretation of the professor s lecture GradeBuddy is best used as a supplement to your own notes not as a substitute b Reasons for the Spread i Those in the upper end of the income distribution have DUAL income 1 aka more than one person in the household working a 3 4 of households in top 5 b living together married college educated c Women are now working too and doing well i makeup of the household has changed over the years ii The lower end of the distribution usually only has one income 1 single parents or recent college graduates iii Top quintile practically 100 are college educated 1 upper end 300 000 a a married couple both mid career engineers 150 000 salaries but not necessarily exceptional engineers iv The range between high and low end was not always this big 1 The top 20 are doing much better than the rest of the economy 2 Top 5 doing significantly better than the rest II Federal Reserve Economic Database aka FRED Start of Chapter 6 a http research stlouisfed org fred2 b Recession bars The gray bars are where GDP is falling i Unemployment rises during these bars recessions ii It took 5 years to recover from the Great Depression iii Where is the increase in GDP coming from 1 Technology a EX Lady working 40 hours a week in BLC doing everything by hand i Lady retires and Gwen says why don t we put all the paperwork online ii Position isn t fired terminated her job is just minimized to a 15 hours a week efficient iv Employment data comes from monthly



View Full Document

Access the best Study Guides, Lecture Notes and Practice Exams

Loading Unlocking...
Login

Join to view Inequality in Household Incomes, FRED, Models of the Aggregate Market and access 3M+ class-specific study document.

or
We will never post anything without your permission.
Don't have an account?
Sign Up

Join to view Inequality in Household Incomes, FRED, Models of the Aggregate Market and access 3M+ class-specific study document.

or

By creating an account you agree to our Privacy Policy and Terms Of Use

Already a member?