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Trends in Income Inequality, Volatility and Mobility Risk

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  • NICHOLS Austin

Abstract

There has been a renewed interest in recent years in income inequality, economic mobility, and income volatility. I define an aggregate measure of income risk as half the squared coefficient of variation of incomes measured over both people and time, which can be decomposed into an inequality component measuring dispersion in mean incomes, a volatility component measuring the average dispersion of fluctuations about person-specific trends, and a mobility component measuring the dispersion of person-specific trends. I apply this decomposition to the Panel Study of Income Dynamics to characterize trends in inequality, volatility, and mobility over the last several decades in the United States. I also examine changes in the regressivity of income growth over time.

Suggested Citation

  • NICHOLS Austin, 2008. "Trends in Income Inequality, Volatility and Mobility Risk," IRISS Working Paper Series 2008-10, IRISS at CEPS/INSTEAD.
    • Handle: RePEc:irs:iriswp:2008-10
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    Citations

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    Cited by:

    1. Denisa Maria Sologon & Cathal O'Donoghue, 2014. "Shaping Earnings Insecurity: Labor Market Policy and Institutional Factors," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 60(S1), pages 205-232, May.
    2. Philippe Van Kerm, 2013. "Generalized measures of wage differentials," Empirical Economics, Springer, vol. 45(1), pages 465-482, August.
    3. Austin Nichols & Philipp Rehm, 2014. "Income Risk in 30 Countries," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 60(S1), pages 98-116, May.
    4. Ozan EksiBy, 2017. "Lower volatility, higher inequality: are they related?," Oxford Economic Papers, Oxford University Press, vol. 69(4), pages 847-869.
    5. Francesca Subioli & Michele Raitano, 2022. "Differences set in stone: evidence on the inequality-mobility trade off in italy," Working Papers 633, ECINEQ, Society for the Study of Economic Inequality.
    6. Li Tan, 2021. "Imputing Top‐Coded Income Data in Longitudinal Surveys," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 83(1), pages 66-87, February.
    7. Jacob S. Hacker & Gregory A. Huber & Austin Nichols & Philipp Rehm & Mark Schlesinger & Rob Valletta & Stuart Craig, 2014. "The Economic Security Index: A New Measure for Research and Policy Analysis," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 60(S1), pages 5-32, May.
    8. REITEL Bernard & SOHN Christophe & WALTHER Olivier, 2009. "Cross-border metropolitan integration in Europe (Luxembourg, Basel and Geneva)," IRISS Working Paper Series 2009-02, IRISS at CEPS/INSTEAD.
    9. Maria Symeonaki & Glykeria Stamatopoulou, 2020. "On the Measurement of Positive Labor Market Mobility," SAGE Open, , vol. 10(3), pages 21582440209, July.

    More about this item

    Keywords

    inequality; volatility; instability; mobility; progessivity;
    All these keywords.

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