IDEAS home Printed from https://ideas.repec.org/p/osf/socarx/72gwt.html

Global Perspective on Italian Capitalism

Author

Listed:
  • Ranaldi, Marco

Abstract

This paper investigates the relationship between national and global distributions of capital and labor income in Italy from 1989 to 2020. By combining data from the Global Capital and Labor (GCL) Database and the Italian Survey of Household Income and Wealth (SHIW), it presents five principal findings. First, between 1989 and 2016, Italians consistently declined in their global income rankings based on both capital and labor income. Second, during this period, individuals in the lower income deciles across all regions (North, Center, and South of Italy) experienced more significant declines in both types of income. Third, these trends reversed from 2016 to 2020. Fourth, labor income became a more crucial determinant of global income status for Italians compared to capital income. Fifth, transfer income can no longer elevate Italians at the bottom of the labor income distribution to global middle-class standards, unlike in the past. (Stone Center on Socio-Economic Inequality Working Paper)

Suggested Citation

  • Ranaldi, Marco, 2024. "Global Perspective on Italian Capitalism," SocArXiv 72gwt, Center for Open Science.
    • Handle: RePEc:osf:socarx:72gwt
    DOI: 10.31219/osf.io/72gwt
    as

    Download full text from publisher

    File URL: https://osf.io/download/66326738419d000668fe9d4e/
    Download Restriction: no
    File URL: https://libkey.io/10.31219/osf.io/72gwt?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Demetrio Guzzardi & Salvatore Morelli, 2024. "A New Geography of Inequality: Top incomes in Italian Regions and Inner Areas," World Inequality Lab Working Papers halshs-04753481, HAL.
    2. Thomas Piketty & Emmanuel Saez & Gabriel Zucman, 2018. "Distributional National Accounts: Methods and Estimates for the United States," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 133(2), pages 553-609.
    3. Ranaldi, Marco, 2021. "Global Distributions of Capital and Labor Incomes: Capitalization of the Global Middle Class," SocArXiv 3g59r, Center for Open Science.
    4. Branko Milanovic, 2015. "Global Inequality of Opportunity: How Much of Our Income Is Determined by Where We Live?," The Review of Economics and Statistics, MIT Press, vol. 97(2), pages 452-460, May.
    5. Demetrio Guzzardi & Elisa Palagi & Andrea Roventini & Alessandro Santoro, 2024. "Reconstructing Income Inequality in Italy: New Evidence and Tax System Implications from Distributional National Accounts," Journal of the European Economic Association, European Economic Association, vol. 22(5), pages 2180-2224.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. repec:osf:socarx:72gwt_v1 is not listed on IDEAS
    2. repec:ssa:lemwps:2025/04 is not listed on IDEAS
    3. Léo Czajka & Amory Gethin, 2025. "Racial Inequality and Redistribution in Post-Apartheid South Africa," Working Papers 040, EU Tax Observatory.
    4. Massa, Massimo & Cheng, Si & Zhang, Hong, 2021. "Financial Globalization vs. Income Inequality: The Surprising Role of Delegated Portfolio Flows in Taming the Top 1%," CEPR Discussion Papers 15745, Centre for Economic Policy Research.
    5. Ravallion, Martin, 2019. "Global inequality when unequal countries create unequal people," European Economic Review, Elsevier, vol. 111(C), pages 85-97.
    6. Thomas Blanchet & Lucas Chancel & Amory Gethin, 2019. "How Unequal is Europe? Evidence from Distributional National Accounts, 1980-2017," World Inequality Lab Working Papers hal-02877000, HAL.
    7. Diego Winkelried & Bruno Escobar, 2022. "Declining inequality in Latin America? Robustness checks for Peru," The Journal of Economic Inequality, Springer;Society for the Study of Economic Inequality, vol. 20(1), pages 223-243, March.
    8. Stefan Nagel & Zhengyang Xu, 2022. "Asset Pricing with Fading Memory," The Review of Financial Studies, Society for Financial Studies, vol. 35(5), pages 2190-2245.
    9. Yumin Hu & Luca Macedoni & Mingzhi (Jimmy) Xu, 2025. "Inequality and Market Power: Evidence from the United States and China," CESifo Working Paper Series 12181, CESifo.
    10. Chu, Shiou-Yen, 2020. "A note on labor share, price markup and monetary policy," Economics Letters, Elsevier, vol. 192(C).
    11. Fisher, Jonathan D. & Johnson, David S. & Smeeding, Timothy M. & Thompson, Jeffrey P., 2020. "Estimating the marginal propensity to consume using the distributions of income, consumption, and wealth," Journal of Macroeconomics, Elsevier, vol. 65(C).
    12. repec:osf:socarx:qxket_v1 is not listed on IDEAS
    13. Rolf Aaberge & Anthony B. Atkinson & Sebastian Königs, 2018. "From classes to copulas: wages, capital, and top incomes," The Journal of Economic Inequality, Springer;Society for the Study of Economic Inequality, vol. 16(2), pages 295-320, June.
    14. repec:osf:socarx:t8muy_v1 is not listed on IDEAS
    15. Kant, Chander, 2019. "Income convergence and the catch-up index," The North American Journal of Economics and Finance, Elsevier, vol. 48(C), pages 613-627.
    16. Maria Gomez-Leon & Giacomo Gabbuti, 2021. "Wars, Depression, and Fascism: Income Inequality in Italy, 1900-1950," Documentos de Trabajo - Lan Gaiak Departamento de Economía - Universidad Pública de Navarra 2104, Departamento de Economía - Universidad Pública de Navarra.
    17. Støstad, Morten Nyborg & Cowell, Frank, 2024. "Inequality as an externality: Consequences for tax design," Journal of Public Economics, Elsevier, vol. 235(C).
    18. Yannic Rehm & Lucas Chancel, 2022. "Measuring the Carbon Content of Wealth Evidence from France and Germany," Working Papers halshs-03828939, HAL.
    19. Konul Amrahova Riegel, 2021. "Solving the Muni Puzzle: Who Benefits from Tax Exemption of Government Debt?," Public Finance Review, , vol. 49(1), pages 71-105, January.
    20. Thomas Blanchet & Bertrand Garbinti & Jonathan Goupille-Lebret & Clara Martínez-Toledano, 2018. "Applying Generalized Pareto Curves to Inequality Analysis," AEA Papers and Proceedings, American Economic Association, vol. 108, pages 114-118, May.
    21. Joshua Greenstein, 2020. "The Precariat Class Structure and Income Inequality among US Workers: 1980–2018," Review of Radical Political Economics, Union for Radical Political Economics, vol. 52(3), pages 447-469, September.
    22. Christian Awuku-Budu & Dirk van Duym, 2022. "Developing Statistics on the Distribution of State Personal Income: Methodology and Preliminary Results," BEA Working Papers 0197, Bureau of Economic Analysis.
    23. Advani, Arun & Koenig, Felix & Pessina, Lorenzo & Summers, Andy, 2020. "Importing Inequality: Immigration and the Top 1 Percent," IZA Discussion Papers 13731, IZA Network @ LISER.
    24. Matthew Fisher-Post, 2020. "Factor Shares in the long run," World Inequality Lab Working Papers hal-02876978, HAL.

    More about this item

    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:osf:socarx:72gwt. 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.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with 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: OSF (email available below). General contact details of provider: https://arabixiv.org .

    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.