SAM Beyond Distributional National Accounts
构建了嵌入分配性国民账户（DINA）概念的分配性社会核算矩阵（D-SAM），分解再分配结果中的机械效应和溢出效应，并以智利2017年数据为例，发现溢出效应集中通过资本收入渠道影响中高收入群体。
ABSTRACT Once Distributional National Accounts (DINA) reconcile household survey incomes with macroeconomic aggregates, does Social Accounting Matrix (SAM) analysis still add value over DINA or microsimulation approaches that bypass the income‐generation circuit? We address this question by developing a Distributional SAM (D‐SAM) that embeds the DINA income concept within a macro‐consistent matrix and decomposes any redistributive outcome into a mechanical and a spillover component. A distinctive feature is that retained earnings enter as a separate endogenous account—brought in from outside the standard SAM structure—so that undistributed corporate income propagates through the multiplier circuit rather than being assigned mechanically. Applying the framework to Chile (2017), we find that spillovers are moderate in aggregate but concentrated where mechanical tools are blind: Under a 5%‐of‐GDP universal basic income, they absorb 15%–25% of the mechanical transfer for upper‐middle deciles and offset roughly 16% of the top‐decile mechanical loss through capital‐income channels. The added value of D‐SAM is therefore selective, largest for policies mediated by capital income.