PolicyEngine / policyengine

Source code for PolicyEngine
https://policyengine.org
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Update US to 2021 ASEC #1028

Closed MaxGhenis closed 2 years ago

MaxGhenis commented 2 years ago

Fixes #1024

I verified that population reform impacts differ from the live site (and household impacts don't).

Some baseline comparisons: Metric 2020 2021
Poverty 8.8% 8.0%
Child poverty 10.0% 8.4%
Working-age poverty 9.8% 8.9%
Senior poverty 4.0% 4.5%
Deep poverty 2.8% 2.8%
Deep child poverty 2.6% 2.5%
Deep working-age poverty 3.7% 3.7%
Deep senior poverty 0.1% 0.1%
Gini index 0.402 0.404
Top 10% income share 30.1% 30.6%
Top 1% income share 6.9% 7.1%

Note that these are primarily due to differences in income, not policy changes, since we overwrite taxes and benefits with our computations. Lower poverty rates make sense, since market income was higher in 2021 vs. 2020. Not sure I'd have had a prior on the inequality change, so the slight increase seems reasonable too.