History dependent growth incidence: A characterisation and an application to the economic crisis in Italy
AbstractWe propose a characterisation of an aggregate measure of growth that takes into account the initial economic conditions of individuals. Our measure is a weighted average of individual income growth with weights that are decreasing with the rank of the individual in the initial income distribution. We apply our theoretical framework to evaluate the growth processes experienced by the Italian population in the last decade and find that the 2008-2010 crisis deteriorated the income growth of the initially poor disproportionately. This is compatible with the dual nature of the Italian labour market.
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Bibliographic InfoPaper provided by ECINEQ, Society for the Study of Economic Inequality in its series Working Papers with number 314.
Length: 32 pages
Date of creation: Nov 2013
Date of revision:
Individual income growth; directional income mobility; pro-poor growth; economic crisis.;
Find related papers by JEL classification:
- D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
- D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
- I32 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Measurement and Analysis of Poverty
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