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The rich and the poor in the EU and the Great Recession: Evidence from a Panel Analysis

Author

Listed:
  • Giuseppina Malerba

    () (DISCE, Università Cattolica)

  • Marta Spreafico

    () (DISCE, Università Cattolica)

Abstract

This paper proposes a theoretical framework of the factors affecting the gap between the rich and the poor in the European Union, and utilizes a twelve-year panel (2000-2012) of 27 countries to identify the short-term effects of the macroeconomic performance, the level of household income inequality, and the social protection expenditure, controlling for several structural factors of income disparities. It is assessed their impact on the bottom, median and top shares of household income; it is found a different effect of the three core determinants before the Great Recession and during the crisis years, and a different public commitment depending on the type of welfare regime.

Suggested Citation

  • Giuseppina Malerba & Marta Spreafico, 2014. "The rich and the poor in the EU and the Great Recession: Evidence from a Panel Analysis," DISCE - Quaderni dell'Istituto di Politica Economica ispe0068, Università Cattolica del Sacro Cuore, Dipartimenti e Istituti di Scienze Economiche (DISCE).
  • Handle: RePEc:ctc:serie5:ispe0068
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    File URL: http://istituti.unicatt.it/politica-economica-ISPE0068.pdf
    File Function: First version, 2014
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    References listed on IDEAS

    as
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    2. Maurizio Motolese, 2003. "Endogenous uncertainty and the non-neutrality of money," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 21(2), pages 317-345, March.
    3. Campiglio, Luigi Pierfranco, 2014. "Unbundling the Great European Recession (2009-2013): Unemployment, Consumption, Investment, Inflation and Current Account," MPRA Paper 53002, University Library of Munich, Germany.
    4. Luigi Pierfranco Campiglio, 2011. "Libertà del vivere una vita civile e deprivazione economica," DISCE - Quaderni dell'Istituto di Politica Economica ispe0058, Università Cattolica del Sacro Cuore, Dipartimenti e Istituti di Scienze Economiche (DISCE).
    5. Carsten K. Nielsen, 2009. "Optimal economic institutions under rational overconfidence, with applications to the choice of exchange rate regime," International Journal of Economic Theory, The International Society for Economic Theory, vol. 5(4), pages 375-407.
    6. Luigi Pierfranco Campiglio, 2013. "Why Italy's saving rate became (so) low?," DISCE - Quaderni dell'Istituto di Politica Economica ispe0063, Università Cattolica del Sacro Cuore, Dipartimenti e Istituti di Scienze Economiche (DISCE).
    7. John S L McCombie & Marta Spreafico, 2013. "Can only democracies enhance “Human Development”? Evidence from the Former Soviet Countries," DISCE - Quaderni dell'Istituto di Politica Economica ispe0066, Università Cattolica del Sacro Cuore, Dipartimenti e Istituti di Scienze Economiche (DISCE).
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    9. Carsten Krabbe Nielsen, 2004. "Rational overconfidence and excess volatility in general equilibrium," Econometric Society 2004 Latin American Meetings 157, Econometric Society.
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    12. Giuseppina Malerba & Marta Spreafico, 2013. "Income inequality in the European Union: evidence from a panel analysis," DISCE - Quaderni dell'Istituto di Politica Economica ispe0065, Università Cattolica del Sacro Cuore, Dipartimenti e Istituti di Scienze Economiche (DISCE).
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    More about this item

    Keywords

    European Union; Great Recession; household disposable income distribution; income inequality; panel models; structural determinants;

    JEL classification:

    • C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models
    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
    • I31 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General Welfare, Well-Being
    • I32 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Measurement and Analysis of Poverty
    • I38 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Government Programs; Provision and Effects of Welfare Programs

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