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Earnings Mobility in Times of Growth and Decline: Argentina from 1996 to 2003

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Author Info

  • Fields, Gary S.
  • Sánchez Puerta, María Laura

Abstract

Summary In recent years Argentina's economy has experienced both rapid growth and severe decline. In this paper, we use a series of one-year long panels to study who gained the most in pesos when the economy grew and who lost the most in pesos when the economy contracted. Various considerations led us to expect that mobility would be divergent--that is, that the individuals who started with the highest initial earnings would enjoy the largest earnings gains in pesos. Contrary to expectations and for a wide range of specifications, mobility is found to be mostly convergent, sometimes neutral, and never divergent.

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Bibliographic Info

Article provided by Elsevier in its journal World Development.

Volume (Year): 38 (2010)
Issue (Month): 6 (June)
Pages: 870-880

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Handle: RePEc:eee:wdevel:v:38:y:2010:i:6:p:870-880

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Web page: http://www.elsevier.com/locate/worlddev

Related research

Keywords: finance growth inequality Argentina gains losses;

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References

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  1. Gary Fields & Paul Cichello & Samuel Freije & Marta Menendez & David Newhouse, 2003. "Household income dynamics: a four-country story," Journal of Development Studies, Taylor & Francis Journals, vol. 40(2), pages 30-54.
  2. Guillermo Cruces & Quentin Wodon, 2003. "Risk-adjusted poverty in Argentina: measurement and determinants," LSE Research Online Documents on Economics 6550, London School of Economics and Political Science, LSE Library.
  3. Leonardo Gasparini & Walter Sosa Escudero, 2000. "Assessing Aggregate Welfare: Growth and Inequality in Argentina," Department of Economics, Working Papers 021, Departamento de Economía, Facultad de Ciencias Económicas, Universidad Nacional de La Plata.
  4. George E. Johnson, 1997. "Changes in Earnings Inequality: The Role of Demand Shifts," Journal of Economic Perspectives, American Economic Association, vol. 11(2), pages 41-54, Spring.
  5. Quentin Wodon, 2001. "Income mobility and risk during the business cycle: Comparing adjustments in labour markets in two Latin-American countries," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 9(2), pages 449-461, July.
  6. Fields, Gary S. & Duval Hernández, Robert & Freije-Rodriguez, Samuel & Sanchez Puerta, Maria Laura, 2007. "Earnings Mobility in Argentina, Mexico, and Venezuela: Testing the Divergence of Earnings and the Symmetry of Mobility Hypotheses," IZA Discussion Papers 3184, Institute for the Study of Labor (IZA).
  7. Michael Grimm, 2007. "Removing the anonymity axiom in assessing pro-poor growth," Journal of Economic Inequality, Springer, vol. 5(2), pages 179-197, August.
  8. Peter Gottschalk, 1997. "Inequality, Income Growth, and Mobility: The Basic Facts," Journal of Economic Perspectives, American Economic Association, vol. 11(2), pages 21-40, Spring.
  9. Bob Baulch & John Hoddinott, 2000. "Economic mobility and poverty dynamics in developing countries," Journal of Development Studies, Taylor & Francis Journals, vol. 36(6), pages 1-24.
  10. Zimmerman, David J, 1992. "Regression toward Mediocrity in Economic Stature," American Economic Review, American Economic Association, vol. 82(3), pages 409-29, June.
  11. L. Alan Winters & Neil McCulloch & Andrew McKay, 2004. "Trade Liberalization and Poverty: The Evidence So Far," Journal of Economic Literature, American Economic Association, vol. 42(1), pages 72-115, March.
  12. Gary S. Field & Robert Duval Hernandez & Samuel Freije & Maria Laura Sanchez Puerta, 2007. "Intragenerational Income Mobility in Latin America," JOURNAL OF LACEA ECONOMIA, LACEA - LATIN AMERICAN AND CARIBBEAN ECONOMIC ASSOCIATION.
  13. Solon, Gary, 1992. "Intergenerational Income Mobility in the United States," American Economic Review, American Economic Association, vol. 82(3), pages 393-408, June.
  14. Gabriela Inchauste & Ana Corbacho & Mercedes Garcia-Escribano, 2003. "Argentina," IMF Working Papers 03/89, International Monetary Fund.
  15. Michael Carter & Christopher Barrett, 2006. "The economics of poverty traps and persistent poverty: An asset-based approach," Journal of Development Studies, Taylor & Francis Journals, vol. 42(2), pages 178-199.
  16. McKenzie, David J, 2004. "Aggregate Shocks and Urban Labor Market Responses: Evidence from Argentina's Financial Crisis," Economic Development and Cultural Change, University of Chicago Press, vol. 52(4), pages 719-58, July.
  17. Robert H. Topel, 1997. "Factor Proportions and Relative Wages: The Supply-Side Determinants of Wage Inequality," Journal of Economic Perspectives, American Economic Association, vol. 11(2), pages 55-74, Spring.
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Cited by:
  1. Tobias Lechtenfeld & Asmus Zoch, 2014. "Income Convergence in South Africa: Fact or Measurement Error?," Working Papers 10/2014, Stellenbosch University, Department of Economics.

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