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| Author: | Roine, J. Vlachos, J. Waldenström, D. |
| Title: | The long-run determinants of inequality: What can we learn from top income data? |
| Journal: | Journal of Public Economics
2009 : AUG, VOL. 93:7-8, p. 974-988 |
| Index terms: | economic development trade policy government public expenditure taxation inequality incomes |
| Freeterms: | financial development trade openness |
| Language: | eng |
| Abstract: | Using a newly assembled panel of 16 countries over the entire 20th century, this paper explores determinants of income inequality focusing on three groups of income earners: the rich (P99-100), the upper middle class (P90-99), and the rest of the population (P0-90). It is shown that periods of high economic growth disproportionately increases the top percentile income share at the expense of the rest of the top decile. Financial development is also pro-rich and the outbreak of banking crises is linked with reduced income shares of the rich. Trade openness has no clear distributional impact. Yet, government spending is negative for the upper middle class and positive for the nine lowest deciles, but does not seem to affect the rich, though. Finally, tax progressivity reduces top income shares etc. |
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