scholarly journals Does Wealth Inequality Matter for Growth? The Effect of Billionaire Wealth, Income Distribution, and Poverty

2013 ◽  
Author(s):  
Sutirtha Bagchi ◽  
Jan Svejnar
Keyword(s):  
Income Distribution ◽  
Wealth Inequality

scholarly journals The Dynamics of Wealth Inequality and the Effect of Income Distribution

PLoS ONE ◽  
2016 ◽  
Vol 11 (4) ◽  
pp. e0154196 ◽  
Author(s):  
Yonatan Berman ◽  
Eshel Ben-Jacob ◽  
Yoash Shapira
Keyword(s):  
Income Distribution ◽  
Wealth Inequality

scholarly journals The Elusive Rentier Rich

2016 ◽  
Vol 42 (2) ◽  
pp. 257-279 ◽  
Author(s):  
Linsey McGoey
Keyword(s):  
Nineteenth Century ◽  
Economic Theory ◽  
Income Distribution ◽  
Wealth Inequality ◽  
Economic Capital ◽  
Marginal Productivity ◽  
Neoclassical Economist ◽  
Mainstream Economic ◽  
Blind Spots

The popularity of Thomas Piketty’s research on wealth inequality has drawn attention to a curious question: why was widening wealth inequality largely neglected by mainstream economists in recent decades? To explore and explain that neglect, I draw on the writing of the early neoclassical economist John Bates Clark, who introduced the notion of the marginal productivity of income distribution at the end of the nineteenth century. I then turn to Piketty’s Capital in order to analyze the salience of marginal productivity theories of income today. I suggest that most of the criticism and praise for Piketty’s research is focused on data that are accessible and measurable, obscuring attention to questions over whether current methods for measuring economic capital are defensible or not. My overarching aim is to explore how “absent” data in economics as a whole help to reinforce blind spots within mainstream economic theory.

scholarly journals Assessment of the Degree of the Divergence and Inequality of Household Income Distribution in Poland in the Years 2005–2013

2016 ◽  
Vol 16 (1) ◽  
pp. 50-62 ◽  
Author(s):  
Filip Edmund Gęstwicki ◽  
Ewa Wędrowska
Keyword(s):  
Income Inequality ◽  
Income Distribution ◽  
Household Income ◽  
Wealth Inequality ◽  
Early Years ◽  
First Century ◽  
The European Union ◽  
Main Research ◽  
Entropy Measures ◽  
Household Incomes

Abstract The increase in income and wealth inequality observed in the last decade of the twentieth century and the first decade of the twenty-first century is the subject of many analyses and discussions. Research shows that major changes in household incomes in Poland took place in the early years of transition (1990–1992), known as a ‘revolution in income’. The article focuses on the assessment of the degree of household income inequality after the Poland’s accession to the European Union. The most commonly used measures in income inequality studies are the measures of inequality based on the Lorenz function – a popular Gini coefficient and the Schutz ratio, measures using the concept of entropy, measures based on welfare function, or measures based on income distribution quantiles. The article proposes the possibility of broadening the measuring spectrum of income inequality analysis of the Csiszár’s divergence measures. The main research objective of the article is to assess the divergence in the distribution of household equivalent disposable income in Poland in the years 2005–2013. The data used in the analysis come from the European Survey on Income and Living Conditions (EU-SILC).

scholarly journals Does Income Inequality Create Excessive Threats to the Sustainable Development of Russia? Evidence from Intercountry Comparisons via Analysis of Inequality Heatmaps

Economies ◽  
2021 ◽  
Vol 9 (4) ◽  
pp. 166
Author(s):  
Mikhail Lvovitch Dorofeev
Keyword(s):  
Sustainable Development ◽  
Income Inequality ◽  
Income Distribution ◽  
Government Regulation ◽  
National Income ◽  
Historical Analysis ◽  
Wealth Inequality ◽  
Tax Rates ◽  
The Sustainable Development ◽  
The World

The paper explored the problem of income inequality in Russia in the context of the sustainable development of Russia. The research starts from the historical analysis of income inequality dynamics in Russia. Then, we discussed the problem of the inconsistency of data, comparing different sources (official data from the Rosstat database and alternative data from the World inequality database). The purpose of this research was to assess Russian specifics of income inequality and answer the question of if the income inequality in Russia is excessively high and needs extra government regulation in order to reach the trajectory of advanced sustainable development. To this end, we made intercountry comparisons and used the method of building income inequality heatmaps basing on a dataset from the World Inequality Database. Our sample includes the per-adult equivalent of household market income distribution in 27 developed and developing countries and world regions. The result of the research was that there are many countries in the world wherein the differentiation of income exceeds Russia’s. Russian income inequality is lower than the world average, but the structure of the Russian household income distribution stands out by an extreme concentration of national income in the hands of the top 1%. We supported our results via the independent data from the Credit Suisse wealth inequality report, connecting a record level of wealth inequality in Russia with its problem of top 1% income inequality. It is recommended to gradually increase marginal tax rates on the income and wealth of the top 1% and continue developing an effective progressive tax system in Russia.

Wealth Inequality

2018 ◽  
Author(s):  
Salvatore Morelli ◽  
Brian Nolan ◽  
Philippe Van Kerm
Keyword(s):  
Income Inequality ◽  
Income Distribution ◽  
Wealth Inequality ◽  
Comparative Perspective ◽  
Lower Income ◽  
Distribution Of Wealth ◽  
Working Age ◽  
Recent Trends ◽  
Key Features

This chapter brings wealth into the picture, again in a comparative perspective, to bring out key features of recent trends and their implications for the prosperity and prospects of ordinary families. Data on the distribution of wealth has been improving in recent years, and new data are exploited here to examine patterns of wealth holding across the income distribution. In doing so, particular attention is paid to the extent and nature of wealth held by middle and lower income working-age families, and how this differs from those higher up the distribution. The chapter also looks at inequality in the distribution of wealth compared with income, and whether wealth inequality has widened as income inequality has grown.

scholarly journals New model of understanding income distribution through graduation of normalized Gini Mean Difference

2015 ◽  
Vol 2 (9) ◽  
pp. 1
Author(s):  
Dmitry S. Sсhmerling
Keyword(s):  
Income Distribution ◽  
Wage Rate ◽  
Gini Index ◽  
Wealth Inequality ◽  
Mean Difference ◽  
Wide Spread ◽  
Topical Problem ◽  
Integral Number ◽  
Gini Mean Difference ◽  
Wage System

<p>This work covers such a topical problem as the study of income and wealth inequality. It introduces the notion of “graduation”, i.e. rate of wage rate scale customary at time wage system. Graduation means introduction of the index m as a degree of the polynomial based on which the wage rate scale is distributed. In other words, using m allows to graduate Gini mean difference (0&lt;G&lt;1) by assigning integral number or fraction m, 0&lt;m&lt;∞ to every value of Gini index. Similarly, for each m we can calculate and estimate corresponding normalized Gini mean difference (the analog of Gini index used for simplicity of calculations).<br />Note that in this case we are not talking about distribution in real society, but in the simplest model of this society – a metaphoric community with only one person at each income level. This way we get the most distinct impression of the mechanism of income distribution that gives us the chance to assess scale of inequality. To some extent it clarifies the wide-spread Gini coefficient and “the nature of populations’ wealth”.</p>

scholarly journals The Increasing Inequality of Wealth in China

2020 ◽  
pp. 109-144
Author(s):  
John Knight ◽  
Shi Li ◽  
Haiyuan Wan
Keyword(s):  
Income Distribution ◽  
Capital Accumulation ◽  
House Price ◽  
Wealth Inequality ◽  
Economic Reforms ◽  
Household Wealth ◽  
Price Inflation ◽  
Using Data

The inequality of wealth in China has increased rapidly in recent years. Prior to 1978 all Chinese households possessed negligible wealth. China therefore presents a fascinating case study of how inequality of household wealth increases with economic reforms, marketization, and capital accumulation. Wealth inequality and its growth are measured and decomposed by using data from the CHIP 2002 and 2013 survey datasets. Techniques for estimating the top tail of the income distribution by using a Pareto approximation are applied to measure the sensitivity of wealth inequality to plausible assumptions about the underrepresentation of the wealthy and underreporting by the wealthy. The rising wealth inequality is explained in terms of the relationships between income and wealth, house price inflation, and differential savings.

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