【IEF Seminar 24】Dr. Shenghao Zhu: About China labor income, income and wealth inequality issues


EFIT Zhichao Hu

At 3P.M. of November 9th, BHU Dr. Zhu  delivered a lecture on China labor income, income and wealth inequality issues. Teachers of IEF attended the seminar and exchanged their ideas.

The whole forum mainly focused on the limitations of CHFS in 2011 describing family labor income, wealth distribution, and yearning for future research data sources. Dr. Zhu  pointed out that the data of the 2011 version of CHFS was imperfect. For example, the original method of knocking the door into the household is often unable to get the coordination of high income families, making the data less representative in high income families. Compared to the way the US tax bureau took that directly transfers data to the Fed's research team, there is a large error in China's survey data because of the middle link. Professor Gan plowed the two batch of visitor survey, to high income population data were corrected to some extent. Dr. Zhu  pointed out that in the data model of the high-income class; the problem of overrepresentation was avoided by weighting. But it still has its limitations. If the interviewer cannot find the investigation of the corresponding income group, the additional weight would have no foundation and no meaning. At the end of the lecture, Dr. Zhu  also pointed out that the current inequality in China is equivalent to that of the United States in 1928, and China is currently facing an imperfect social security system. Dr. Zhu  also stressed that the difference in urban and rural income in China is the difference between the urban and rural system in China. This lecture, Dr. Zhu  combined with the data to all of the teachers and students in detail about China in income, labor income, the distribution of wealth inequality, finally extended to today's China the difference of urban and rural pension insurance system and to get the support of the government in the aspects of data source more in the future.

        Through this lecture, teachers and students have a deep and systematic understanding of China's inequality and the advantages and limitations of CHFS data, as well as the problems faced by the Research Institute, and at the same time, and open up the mind of research. Dr. Zhu 's article, as well as the innovation and practice of the data and data acquisition and processing methods provided by Professor Gan Li, left a deep impression on the teachers. Dr. Zhu  also inspired teachers greatly, can make the whole academic groups have a clearer direction in this research.