Search results for "income distribution"
showing 10 items of 55 documents
Heritability of Lifetime Income
2013
Using 15 years of data on Finnish twins, we find that 24% (54%) of the variance of women’s (men’s) lifetime income is due to genetic factors and that the contribution of the shared environment is negligible. We link these figures to policy by showing that controlling for education reduces the variance share of genetics by 5-8 percentage points; by demonstrating that income uncertainty has a genetic component half the size of its variance share in lifetime income; and by exploring how the genetic heritability of lifetime income is related to the macroeconomic environment, as measured by GDP growth and the Gini-coefficient of income inequality.
Regional inequality and economic development in Spain, 1860–2010
2016
Abstract Fifty years ago Jeffrey G. Williamson suggested that during the process of economic development regional income differences trace out an inverted U-shaped pattern. Since then several studies have tested this hypothesis. Yet, most of these only explore particular stages of development. This study, however, investigates the long-term evolution of regional income inequality. Using a novel dataset spanning 150 years, we describe per-capita GDP disparities across Spanish provinces (NUTS3) from 1860 to 2010. Moreover, to gain a deeper understanding of regional inequality, we examine other relevant dimensions: modality, mobility and spatial clustering. Overall, the findings confirm the ex…
“Piero Sraffa’s Lectures on the Advanced Theory of Value 1928 - 1931 and the rediscovery of the classical approach”
2005
Sraffa's Lectures on the Advanced Theory of Value 1928–1931 and his two preparatory Notes of summer and November 1927 provide a wealth of material, up to now unpublished, for a reconstruction of the early stage of his inquiry into the cognate fields of pure economic theory and its history. The three manuscripts show that in the late 1920s Sraffa rejected the Marshallian constant-cost interpretation of classical economics, an interpretation to which he had adhered in his 1925 and 1926 papers. Moreover, in the Lectures, Sraffa presents for the first time his own interpretation of classical economics based on the concepts of surplus, physical real costs and asymmetric treatment of distributive…
European Integration and Inequality among Countries: A Lifecycle Income Analysis
2012
We analyze the effects of the expansions of the European Union on inequality using an approach based on individuals' lifecycle incomes. This allows us to consider the effect of different rates of growth and survival rates. This differs form the usual analyses of inequality that focus on the evolution of current per capita income for the period. Our results show that inequality in terms of permanent income was substantially less than in current per capita income at the time of all the expansions except those of the last ten years. The results point to the key role of policies that stimulate growth in the less developed countries. With an annual β-convergence of 2% in current income, inequali…
Rising Educational Attainment and Opportunity Equalization: Evidence from France
2020
Educational policies are widely recognized as the means par excellence to equalize opportunities among children with different social and family backgrounds and to promote intergenerational mobility. In this chapter, we focus on the French case and we apply the opportunity equalization criterion proposed by Andreoli, Havnes, and Lefranc (2019) for evaluating the effect of rising compulsory schooling requirements in secondary education. Our results show that such education expansion has a limited redistributive effect on students’ earnings distribution. Nonetheless, we provide evidence of opportunity equalization among groups of students defined by family background circumstances.
Argentina’s Economic Development and Life Satisfaction Revisited – 1984–2012
2014
At the end of 1983, Argentina returned to democracy. Between 1983 and 2012, Argentina brought better economic and development results as wells as an improvement in the levels of happiness and life satisfaction. Although the macroeconomic cycle was characterized by high volatility, the country GDP per capita was 74 % higher in 2012 compared to 1983, implying an average annual growth rate of 1.9 %, much higher than the average Latin American country. Poverty and income distribution as well as health and education ones notably improved after time intervals of decadence.
Financial Globalization, Fiscal Policies and the Distribution of Income
2020
This paper provides evidence that financial globalization—liberalization of the capital account—makes income distribution more uneven by raising the share of income that goes to the richest income deciles. We also offer evidence that changes in domestic fiscal policies in the aftermath of financial globalization are one channel through which these distributional effects could occur. Specifically, we show that episodes of capital account liberalization are followed by greater fiscal consolidation and reduced fiscal redistribution, both of which lead to increased inequality.
Integrated capital shares
2019
In empirical macroeconomics, inter-dependencies between countries are often analysed using cross-country correlations or graphical investigation of time series. This study shows that applying an alternative methodological approach - identification of common unobservable factors and using them as explanatory variables for country-specific time series - indicates a stronger cross-country integration of functional income distributions than the standard methods. The results vary only little between different samples, where both the country and year coverage change. Moreover, the main findings are not sensitive to the way capital depreciation is taken into account. The primary driving factor see…
La distribución de la renta en España en el período de crecimiento económico: 1998-2005
2021
El objetivo del trabajo es analizar la relación entre el crecimiento económico y la distribución de la renta en España entre 1998 y 2005 (crecimiento económico con escasa reducción de la desigualdad). El trabajo intenta mostrar la relación entre ambas variables económicas, así como buscar las claves que explican por qué la última larga etapa de crecimiento económico en España no se ha traducido en una clara mejoría de la distribución de la renta.
The contribution of Herschel I. Grossman to political economy
2005
Herschel Grossman was one of the most creative and productive economists of his generation in the field of political economy. This paper surveys his scientific contributions to the field.