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Modern inequalities: a review of the literature

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  • Kostov, Lyuboslav

Abstract

This article reviews the main results of recent empirical research on the topic of income and wealth inequalities, with a special focus on Bulgaria, taking extensive account of the impact of Covid-19 which, according to the data, is responsible for ‘the largest annual increase in global inequality and poverty since at least 1990’. It is clear that social and macroeconomic shocks have a major impact on trends in inequalities. The aim of the article is to summarise the latest research on the subject in order to establish a starting point for the formulation of an adequate economic policy by national governments. The goal of such a policy should be to reduce inequalities to levels in socially acceptable ways which, on the one hand, would lead to an increase in general economic well-being and, on the other, also to an increase in social justice. Reducing the gap between rich and poor to ensure a fairer and more sustainable future means using all the tools of economic policy, both monetary and fiscal, which are available. A literature review such as this one fits precisely into this debate and would greatly assist future policymakers determine policies that work.

Suggested Citation

  • Kostov, Lyuboslav, 2023. "Modern inequalities: a review of the literature," SEER Journal for Labour and Social Affairs in Eastern Europe, Nomos Verlagsgesellschaft mbH & Co. KG, vol. 26(1), pages 81-94.
    • Handle: RePEc:nms:joseer:10.5771/1435-2869-2023-1-81
    DOI: 10.5771/1435-2869-2023-1-81
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    References listed on IDEAS

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    5. Jonathan Heathcote & Fabrizio Perri & Giovanni L. Violante, 2010. "Unequal We Stand: An Empirical Analysis of Economic Inequality in the United States: 1967-2006," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 13(1), pages 15-51, January.
    6. Markus M. Grabka & Christian Westermeier, 2014. "Persistently High Wealth Inequality in Germany," DIW Economic Bulletin, DIW Berlin, German Institute for Economic Research, vol. 4(6), pages 3-15.
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    9. Junming Huang & Alexander J. Gates & Roberta Sinatra & Albert-László Barabási, 2020. "Historical comparison of gender inequality in scientific careers across countries and disciplines," Proceedings of the National Academy of Sciences, Proceedings of the National Academy of Sciences, vol. 117(9), pages 4609-4616, March.
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