Document Type
Discussion Paper
Publication Date
9-1-1992
CFDP Number
1030R
CFDP Revision Date
1993-05-01
CFDP Pages
35
Abstract
This survey concludes that general prosperity and economic growth have been considerably less powerful engines of progress against poverty in the U.S. than they were before 1973. Macroeconomic performance has deteriorated, and its relation to poverty has weakened too. It is shown that the incidence of poverty can be fairly well explained by regressions on unemployment rates and real wages, both in national time series and in state cross-sections. Recent downward deviations from these regressions appear to reflect structural labor market changes that make poverty less treatable by macro medicine.
Recommended Citation
Tobin, James, "Poverty in Relation to Macroeconomic Trends, Cycles, and Policies" (1992). Cowles Foundation Discussion Papers. 1273.
https://elischolar.library.yale.edu/cowles-discussion-paper-series/1273