김낙년
우리나라 귀속임대료의 분배 효과와 국제비교
Abstract
Adding imputed rents(IR) to cash income or consumption expenditures can improve comparability across countries, between owner-occupiers and tenants, and across age groups. Distributive effect of IR varies considerably depending on the choice of the definition of IR (for owner-occupiers only, or including social housing as well), the method for estimation, and the welfare indicator(income or consumption). This article estimates the IR and its distributional effects using data for Korea in 2016, employing both definitions of IR, both indicators of welfare, and three different methods of estimation. The results are compared with those estimated for the U.S. and selected EU and developing countries from previous studies. An interesting finding is that IR improves distribution of income but worsens distribution of consumption. Many of the inconsistent results from previous studies to estimate IR and its distributional effects are due to the different criteria for comparison.
JEL Code: D31
Keywords imputed rent, distribution, comparability