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Globalization and Income Inequality

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  • Thomas Harjes
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    Abstract

    There is growing concern in Europe over the impact of globalization on high and evenly shared living standards. These concerns have often surfaced in response to falling labor income shares in aggregate national income data. However, these data may tell little about the underlying distribution of incomes based on household disposable incomes. While summary measures of income distributions also suggest that inequality has increased in most industrialized countries, this development was very uneven and much less pronounced in euro-area countries, suggesting that broad phenomena such as trade liberalization and technological change may not be major drivers of inequality.

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    Bibliographic Info

    Paper provided by International Monetary Fund in its series IMF Working Papers with number 07/169.

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    Length: 15
    Date of creation: 01 Jul 2007
    Date of revision:
    Handle: RePEc:imf:imfwpa:07/169

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    Related research

    Keywords: Income distribution; National income accounts; wage; wages; labor share; labor markets; labor market; earnings inequality; labor market institutions; minimum wage; labor demand; labor force; minimum wages; labor shares; labor economics; labor compensation; wage structure; skilled workers; labor supply; female labor market participation; wage compensation; benefits; labor market participation; earnings distribution; labor force participation; labor productivity; labor unions;

    References

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    1. Leamer, Edward E, 1996. "Wage Inequality from International Competition and Technological Change: Theory and Country Experience," American Economic Review, American Economic Association, vol. 86(2), pages 309-14, May.
    2. Frank Levy & Peter Temin, 2007. "Inequality and Institutions in 20th Century America," NBER Working Papers 13106, National Bureau of Economic Research, Inc.
    3. David Card & Francis Kramarz & Thomas Lemieux, 1996. "Changes in the Relative Structure of Wages and Employment: A Comparison of the United States, Canada, and France," NBER Working Papers 5487, National Bureau of Economic Research, Inc.
    4. Krugman, Paul & Venables, Anthony J., 1995. "Globalization and the Inequality of Nations," Working Paper Series 430, Research Institute of Industrial Economics.
    5. David H. Autor & Lawrence F. Katz & Melissa S. Kearney, 2005. "Trends in U. S. Wage Inequality: Re-Assessing the Revisionists," Harvard Institute of Economic Research Working Papers 2095, Harvard - Institute of Economic Research.
    6. Alexandra Spitz-Oener, 2006. "Technical Change, Job Tasks, and Rising Educational Demands: Looking outside the Wage Structure," Journal of Labor Economics, University of Chicago Press, vol. 24(2), pages 235-270, April.
    7. Davis, Donald R, 1998. "Does European Unemployment Prop Up American Wages? National Labor Markets and Global Trade," American Economic Review, American Economic Association, vol. 88(3), pages 478-94, June.
    8. Thomas Lemieux, 2006. "Increasing Residual Wage Inequality: Composition Effects, Noisy Data, or Rising Demand for Skill?," American Economic Review, American Economic Association, vol. 96(3), pages 461-498, June.
    9. Paul Beaudry & David A. Green, 2003. "Wages and Employment in the United States and Germany: What Explains the Differences?," American Economic Review, American Economic Association, vol. 93(3), pages 573-602, June.
    10. David Card & John E. DiNardo, 2002. "Skill Biased Technological Change and Rising Wage Inequality: Some Problems and Puzzles," NBER Working Papers 8769, National Bureau of Economic Research, Inc.
    11. Michael F. Förster & Marco Mira d'Ercole, 2005. "Income Distribution and Poverty in OECD Countries in the Second Half of the 1990s," OECD Social, Employment and Migration Working Papers 22, OECD Publishing.
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    Citations

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    Cited by:
    1. Aittomäki, Akseli & Martikainen, Pekka & Laaksonen, Mikko & Lahelma, Eero & Rahkonen, Ossi, 2012. "Household economic resources, labour-market advantage and health problems – A study on causal relationships using prospective register data," Social Science & Medicine, Elsevier, vol. 75(7), pages 1303-1310.
    2. Dew-Becker, Ian & Gordon, Robert J, 2008. "Controversies about the Rise in American Inequality: A Survey," CEPR Discussion Papers 6817, C.E.P.R. Discussion Papers.
    3. Michel Dumont & Nikolina Stojanovska & Ludo Cuyvers, 2011. "World inequality, globalisation, technology and labour market institutions," International Journal of Manpower, Emerald Group Publishing, vol. 32(3), pages 257-272, July.
    4. António Afonso & Ludger Schknecht & Vito Tanzi, 2008. "Income Distribution Determinants and Public Spending Efficiency," Working Papers Department of Economics 2008/05, ISEG - School of Economics and Management, Department of Economics, University of Lisbon.
    5. Chris Papageorgiou & Subir Lall & Florence Jaumotte, 2008. "Rising Income Inequality," IMF Working Papers 08/185, International Monetary Fund.
    6. Asteriou, Dimitrios & Dimelis, Sophia & Moudatsou, Argiro, 2014. "Globalization and income inequality: A panel data econometric approach for the EU27 countries," Economic Modelling, Elsevier, vol. 36(C), pages 592-599.

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