IDEAS home Printed from https://ideas.repec.org/p/qss/dqsswp/1207.html
   My bibliography  Save this paper

The impact of the Great Recession on the incomes of households

Author

Listed:
  • John Micklewright

    (Department of Quantitative Social Science, Institute of Education, University of London. 20 Bedford Way, London WC1H 0AL, UK.)

Abstract

What are the impacts on household incomes of the major economic downturn that occurred in almost all OECD countries starting in late 2007? This paper is a condensed version of a public lecture given at the University of Melbourne in honour of R. I. Downing. It draws on a study of 21 rich countries using data from national accounts, household surveys, and other sources. The headline findings are that for most countries, there was little change in household income distributions in the two years following the downturn (2007–9), but in the subsequent five to ten years, much greater change is likely, as a result of governments' fiscal consolidation and the slow pace of economic recovery. The social safety nets developed since the Great Depression therefore played an important cushioning role in the short term.

Suggested Citation

  • John Micklewright, 2012. "The impact of the Great Recession on the incomes of households," DoQSS Working Papers 12-07, Quantitative Social Science - UCL Social Research Institute, University College London.
    • Handle: RePEc:qss:dqsswp:1207
    as

    Download full text from publisher

    File URL: https://repec.ucl.ac.uk/REPEc/pdf/qsswp1207.pdf
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    Great Recession; income distribution; living standards; households.;
    All these keywords.

    JEL classification:

    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • H50 - Public Economics - - National Government Expenditures and Related Policies - - - General
    • H60 - Public Economics - - National Budget, Deficit, and Debt - - - General
    • I32 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Measurement and Analysis of Poverty

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:qss:dqsswp:1207. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Dr Neus Bover Fonts (email available below). General contact details of provider: https://edirc.repec.org/data/dqioeuk.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.