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Factors related to the depth of the latest crisis for EU-27 countries: The key role of relative inequality/poverty

  • Georgopoulos, Demosthenes
  • Papadogonas, Theodore
  • Sfakianakis, George
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    In this paper we investigate the relationship between the intensity of the recent global economic crisis and the current economic position of EU countries on the one hand and relative poverty and/or inequality on the other. Using data from the 27 EU member states we find a link between economic distress during and after the crisis and the degree of inequality/poverty in each country. The results show a strong positive relationship between the size of the economic crisis impact and higher inequality/poverty at the national level. We also find that these indices are more strongly correlated with the crisis variables, compared to four other well known and widely used indices.

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    File URL: http://www.sciencedirect.com/science/article/pii/S0165176512001139
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    Article provided by Elsevier in its journal Economics Letters.

    Volume (Year): 116 (2012)
    Issue (Month): 3 ()
    Pages: 308-311

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    Handle: RePEc:eee:ecolet:v:116:y:2012:i:3:p:308-311
    Contact details of provider: Web page: http://www.elsevier.com/locate/ecolet

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    1. Matteo Iacoviello, 2006. "Household Debt and Income Inequality, 1963-2003," 2006 Meeting Papers 585, Society for Economic Dynamics.
    2. Bishop, John A. & Chakraborti, S. & Thistle, Paul D., 1988. "Large sample tests for absolute Lorenz dominance," Economics Letters, Elsevier, vol. 26(3), pages 291-294.
    3. Graciela L. Kaminsky & Carmen M. Reinhart, 1996. "The twin crises: the causes of banking and balance-of-payments problems," International Finance Discussion Papers 544, Board of Governors of the Federal Reserve System (U.S.).
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