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Analysis of the Financial Effects of Basic Income

In: The Palgrave International Handbook of Basic Income

Author

Listed:
  • Gareth Morgan

    (Ferret Information Systems)

  • Howard Reed

    (Landman Economics)

  • Malcolm Torry

    (London School of Economics and Political Science)

Abstract

This chapter discusses the two most useful methods for analysing the financial effects of Basic Income schemes. Microsimulation modelling is the main empirical tool used to produce estimates of the costs and distributional impacts of Basic Income schemes. Reed explains how microsimulation modelling works by combining household survey data on incomes and characteristics across the population with information about how the tax and benefits system operates and about how the Basic Income scheme would operate. A worked example is offered. Torry then contributes a detailed analysis of another illustrative Basic Income scheme that retains and recalculates means-tested benefits. Morgan then applies a modelling scenario method to the same scheme in order to compare financial outcomes for some typical households.

Suggested Citation

  • Gareth Morgan & Howard Reed & Malcolm Torry, 2019. "Analysis of the Financial Effects of Basic Income," Exploring the Basic Income Guarantee, in: Malcolm Torry (ed.), The Palgrave International Handbook of Basic Income, chapter 0, pages 191-211, Palgrave Macmillan.
    • Handle: RePEc:pal:etbchp:978-3-030-23614-4_11
    DOI: 10.1007/978-3-030-23614-4_11
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    Cited by:

    1. Torry, Malcolm, 2020. "Evaluation of a Recovery Basic Income, and of a sustainable revenue neutral Citizen’s Basic Income, with an appendix relating to different Universal Credit roll-out scenarios," EUROMOD Working Papers EM7/20, EUROMOD at the Institute for Social and Economic Research.
    2. Torry, Malcolm, 2020. "The role of research in the basic income debate in the UK," LSE Research Online Documents on Economics 108532, London School of Economics and Political Science, LSE Library.

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