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Income Distribution Commons™

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Selected Works

Income inequality

Articles 1 - 3 of 3

Full-Text Articles in Income Distribution

Inequality, Boom, And Bust: From Billionaire Capitalism To Equality And Full Employment, Howard J. Sherman, Paul Sherman Mar 2018

Inequality, Boom, And Bust: From Billionaire Capitalism To Equality And Full Employment, Howard J. Sherman, Paul Sherman

HOWARD J SHERMAN

There is enormous inequality between the income and wealth of the richest 1 percent and all other Americans. While the top 1 percent own 42 percent of all wealth in America, the lower half on the income ladder has only 2 percent of all of the wealth. This book develops a viewpoint contrary to the prevailing conservative paradigm, setting out both reasons for this inequality and the impact of this. To explain inequality, conservative economists focus on individual characteristics such as intelligence and hard work. This book puts forward new evidence to show that changes in economic inequality are primarily …

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Falling Labor Income Inequality In Korea’S Economic Growth: Patterns And Underlying Causes, Gyeongjoon Yoo, Gary S. Fields Jul 2016

Falling Labor Income Inequality In Korea’S Economic Growth: Patterns And Underlying Causes, Gyeongjoon Yoo, Gary S. Fields

Gary S Fields

Over the last twenty-five years, the economy of the Republic of Korea achieved a remarkable growth rate of 7 percent per year in real per capita income, causing it to be labeled, justifiably, as a “miracle economy.” This exceptional economic growth has been accompanied by an even more exceptional fall in labor income inequality. Using a newly-developed methodology, we use data from Korea’s Occupational Wage Surveys to quantify the importance of various factors that have contributed to the fall in labor income inequality in Korea. We find the most important factors explaining the level of income inequality are job tenure, …

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Globalization, Inequality, And Redistribution: Theory And Evidence, Giray Gozgor, Priya Ranjan Dec 2014

Globalization, Inequality, And Redistribution: Theory And Evidence, Giray Gozgor, Priya Ranjan

Priya Ranjan

This paper constructs a simple theoretical model to study the implications of globalization for inequality and redistribution. It shows that when globalization increases inequality, a policymaker interested in maximizing the sum of welfare of all agents increases redistribution. Empirically, the paper examines the effects of globalization on inequality and redistribution in a panel data set of 140 countries for the period from 1970 to 2012. We find that both inequality and redistribution have been increasing with globalization. The results are robust to the inclusion of many different controls and the exclusion of outliers.

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