This chapter explores Meades' lifetime profiles of inputs and outputs and the resulting position in the contemporary income distribution in 1979, 1997 and 2008. First, it reviews the ‘lifetime history’ parameters that are used to create the hypothetical profile. A comparison of the Meades' lifetime profile for these years with contemporary median earnings and price assumptions is then presented. Next, a different pattern of behaviour is adopted to capture the long-term changes in behaviour from 1979 and keep 1997 results to reflect 2008 behaviour. It also describes the outcomes in terms of work incentives and the final income position of the Meades in the income distribution and in relation to relative poverty. Inflation raises the costs of transfers most in the 1979 system and this effect from uprating pensions by earnings takes the Meades into a neutral to positive position on net effects over the lifetime in that year.
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