On the long-run dynamics of income and wealth inequality
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Title
On the long-run dynamics of income and wealth inequalityDate
2021-04-07Publisher
SpringerBibliographic citation
Ghoshray, A., Malki, I. & Ordóñez, J. On the long-run dynamics of income and wealth inequality. Empir Econ (2021). https://doi.org/10.1007/s00181-021-02043-1Type
info:eu-repo/semantics/articlePublisher version
https://link.springer.com/article/10.1007/s00181-021-02043-1Version
info:eu-repo/semantics/publishedVersionSubject
Abstract
We analyse top income and wealth shares data, by conducting a robust estimation of trends, tests for structural breaks, and tests for determining persistence. We include Anglo-Saxon countries, continental Europe and ... [+]
We analyse top income and wealth shares data, by conducting a robust estimation of trends, tests for structural breaks, and tests for determining persistence. We include Anglo-Saxon countries, continental Europe and Asian countries, grouped under different percentiles and deciles, spanning a period that is at least close to a century. We find that the top income shares for almost all countries are characterised by broken trends, or level shifts. The preponderance of trend breaks appears in the 1970s and 1980s where after a negative trend changes in magnitude or direction. Finally, shocks to the top income share data are not transitory, which have consequences for policy such as advocating redistributive measures. [-]
Funder Name
Agencia Estatal de Investigación (Spain) | Fondo Europeo de Desarrollo Regional | Generalitat Valenciana | Universitat Jaume I
Project code
AEI/FEDER ECO2017-83,255-C3-3-P Project | PROMETEO/2018/102 | UJI-B2017-33
Rights
© The Author(s) 2021
info:eu-repo/semantics/openAccess
info:eu-repo/semantics/openAccess
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- IEI_Articles [116]
- ECO_Articles [696]
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