a column by Thomas Blanchet, Lucas Chancel and Amory Gethin for VOX: CEPR’s Policy Portal
Despite the growing importance of inequalities in policy debates, it is still difficult to compare inequality levels across European countries and to tell how European growth has been shared across income groups.
This column draws on new evidence combining surveys, tax data, and national accounts to document a rise in income inequality in most European countries between 1980 and 2017. It finds that income disparities on the old continent have increased less than in the US and shows that this is essentially due to ‘predistribution’ policies.
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Showing posts with label wealth_inequality. Show all posts
Showing posts with label wealth_inequality. Show all posts
Tuesday, 30 April 2019
Tuesday, 12 March 2019
How finance affects income inequality
a column by Michael Brei, Giovanni Ferri and Leonardo Gambacorta for VOX: CEPR’s Policy Portal
There is mounting evidence that income inequality and disparities in wealth have been rising in advanced economies in the recent decades.
Using data on advanced and emerging economies, this column investigates the link between an economy's financial structure – that is, the mix of bank-provided versus market-provided funds – and income inequality. Results show that the relationship is not monotonic.
More finance reduces income inequality up to a point, but beyond that point inequality rises, especially if finance is expanded via market-based financing.
Continue reading
There is mounting evidence that income inequality and disparities in wealth have been rising in advanced economies in the recent decades.
Using data on advanced and emerging economies, this column investigates the link between an economy's financial structure – that is, the mix of bank-provided versus market-provided funds – and income inequality. Results show that the relationship is not monotonic.
More finance reduces income inequality up to a point, but beyond that point inequality rises, especially if finance is expanded via market-based financing.
Continue reading
Wednesday, 10 October 2018
Measuring unfair inequality
a column by Paul Hufe, Ravi Kanbur and Andreas Peichl for VOX: CEPR’s Policy Portal
Rising income and wealth inequality have come into sharp focus since the Global Crisis.
Using US and European data, this column explores the factors contributing to unfair inequality, focusing on equality of opportunity and freedom from poverty.
The results show that unfair inequality is greater in the US than anywhere in Europe, and that it has been increasing over time. The findings also show that relying solely on measures of equality of opportunity will severely underestimate unfair inequality.
Continue reading
Rising income and wealth inequality have come into sharp focus since the Global Crisis.
Using US and European data, this column explores the factors contributing to unfair inequality, focusing on equality of opportunity and freedom from poverty.
The results show that unfair inequality is greater in the US than anywhere in Europe, and that it has been increasing over time. The findings also show that relying solely on measures of equality of opportunity will severely underestimate unfair inequality.
Continue reading
Friday, 31 August 2018
Inequality in the Middle East
a column by Facundo Alvaredo, Lydia Assouad and Thomas Piketty for VOX: CEPR’s Policy Portal
Survey estimates suggest that inequality in the Middle East is not particularly high despite considerable political conflict.
This column uses new ‘distributional national accounts’ data to show that the Middle East is in fact the most unequal region in the world, with both enormous inequality between countries and large inequality within countries. The results emphasise the need to develop mechanisms of regional redistribution and to increase transparency on income and wealth data.
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Survey estimates suggest that inequality in the Middle East is not particularly high despite considerable political conflict.
This column uses new ‘distributional national accounts’ data to show that the Middle East is in fact the most unequal region in the world, with both enormous inequality between countries and large inequality within countries. The results emphasise the need to develop mechanisms of regional redistribution and to increase transparency on income and wealth data.
Continue reading
Sunday, 20 May 2018
Monetary policy and inequality: A new channel
a column by Juan Dolado, Gergo Motyovszki and Evi Pappa for VOX: CEPR’s Policy Portal
There is ongoing debate over the welfare implications of the unorthodox measures adopted by central banks in the wake of the Global Crisis. Using US data, this column explores the implications of monetary policy for income and wealth inequality. Unexpected monetary expansions are found to increase inequality between high- and low-skilled workers. In terms of stabilising the economy, strict inflation targeting is found to be the most successful policy.
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There is ongoing debate over the welfare implications of the unorthodox measures adopted by central banks in the wake of the Global Crisis. Using US data, this column explores the implications of monetary policy for income and wealth inequality. Unexpected monetary expansions are found to increase inequality between high- and low-skilled workers. In terms of stabilising the economy, strict inflation targeting is found to be the most successful policy.
Continue reading
Thursday, 12 April 2018
If this goes on... The 1% will own two thirds of the world by 2030
a post by Cory Doctorow for the Boing Boing blog
The House of Commons Library has published research projecting the post-2008 growth of inequality until 2030, arriving at an eye-popping headline figure: at current rates, the richest 1% will own two thirds of the world's riches by 2030. I think that number is too low. Here's why.
The years since 2008 have been boom times for inequality: the collapse of debt markets and the trillions in state bailouts were a bit like the collapse of the USSR, a moment in which public assets and public money could be massively shifted into the hands of super-rich people who just stole shit like crazy, and got away with it, even when they were caught red-handed.
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There are lots of links to other information.
The House of Commons Library has published research projecting the post-2008 growth of inequality until 2030, arriving at an eye-popping headline figure: at current rates, the richest 1% will own two thirds of the world's riches by 2030. I think that number is too low. Here's why.
The years since 2008 have been boom times for inequality: the collapse of debt markets and the trillions in state bailouts were a bit like the collapse of the USSR, a moment in which public assets and public money could be massively shifted into the hands of super-rich people who just stole shit like crazy, and got away with it, even when they were caught red-handed.
Continue reading
There are lots of links to other information.
Wednesday, 21 March 2018
The return of regional inequality: Europe from 1900 to today
a column by Joan Rosés and Nikolaus Wolf for VOX: CEPR’s Policy Portal
A recent literature has explored growing personal wealth inequality in countries around the world. This column explores the widening wealth gap between regions and across states in Europe.
Using data going back to 1900, it shows that regional convergence ended around 1980 and the gap has been growing since then, with capital regions and declining industrial regions at the two extremes. This rise in regional inequality, combined with rising personal inequality, has played a significant role in the recent populist backlash.
Continue reading
A recent literature has explored growing personal wealth inequality in countries around the world. This column explores the widening wealth gap between regions and across states in Europe.
Using data going back to 1900, it shows that regional convergence ended around 1980 and the gap has been growing since then, with capital regions and declining industrial regions at the two extremes. This rise in regional inequality, combined with rising personal inequality, has played a significant role in the recent populist backlash.
Continue reading
Friday, 12 June 2015
Pareto and Piketty: The Macroeconomics of Top Income and Wealth Inequality
an article by Charles I. Jones (Stanford University, California, and National Bureau of Economic Research, Cambridge, Massachusetts) published in Journal of Economic Perspectives Volume 29 Number 1 (Winter 2015)
First paragraph
Since the early 2000s, research by Thomas Piketty and Emmanuel Saez (and their coauthors, including Anthony Atkinson and Gabriel Zucman) has revolutionized our understanding of income and wealth inequality. The crucial point of departure for this revolution is the extensive data they have used, based largely on administrative tax records.
Piketty’s (2014) Capital in the Twenty-First Century is the latest contribution in this line of work, especially with the new data it provides on capital and wealth. Piketty also proposes a framework for describing the underlying forces that affect inequality and wealth, and unlikely as it seems, a bit of algebra that plays an important role in Piketty’s book has even been seen on T-shirts:
Full text (PDF 18pp) not including appendix and data appendix
The same issue also contains an article by Thomas Piketty himself reflecting on his book Capital in the Twenty-First Century and an article The Window Tax: a Case Study in Excess Burden.
I could have sat and read all afternoon.
Wishing that I could afford the time to do so.
First paragraph
Since the early 2000s, research by Thomas Piketty and Emmanuel Saez (and their coauthors, including Anthony Atkinson and Gabriel Zucman) has revolutionized our understanding of income and wealth inequality. The crucial point of departure for this revolution is the extensive data they have used, based largely on administrative tax records.
Piketty’s (2014) Capital in the Twenty-First Century is the latest contribution in this line of work, especially with the new data it provides on capital and wealth. Piketty also proposes a framework for describing the underlying forces that affect inequality and wealth, and unlikely as it seems, a bit of algebra that plays an important role in Piketty’s book has even been seen on T-shirts:
Full text (PDF 18pp) not including appendix and data appendix
The same issue also contains an article by Thomas Piketty himself reflecting on his book Capital in the Twenty-First Century and an article The Window Tax: a Case Study in Excess Burden.
I could have sat and read all afternoon.
Wishing that I could afford the time to do so.
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