An Investigation on Intercohort Income Inequalities and Millennials Impoverishment in Great Britains Regions

Marco Sarandrea
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Marco Sarandrea: University of Warwick

Warwick-Monash Economics Student Papers from Warwick Monash Economics Student Papers

Abstract: This paper investigates intercohort income inequalities and Millennials’ impoverishment in Great Britain between 1991 and 2018, focusing on the regional heterogeneity of the phenomena. Results show that Millennials’ cohorts (1980-1984 and 1985-1989) are the first ever to experience intercohort income regressions and that inequalities are extremely diverse among regions. Each cohort’s monthly incomes are compared to the previous cohort’s for Great Britain, England’s macro-areas and for Government offices for the regions (GORs). In Great Britain, the 1980-1984 cohort loses £144 each month compared to the 1975-1979 cohort. The cohort-on-cohort income reduction increases to £297 for the 1985-1989 cohort. In Northern England, Millennials experience intercohort income regressions only for the 1985-1989 cohort. In Southern England, the 1985-1989 cohort sees a higher intercohort income regression than the 1980-1984 cohort in absolute terms (- £368 for 1980-1984 versus - £425 for 1985-1989). The same happens in the North (+ £68 for 1980-1984 versus - £407 for 1985-1989), whereas in the Midlands regressions are constant for both cohorts (- £151 for 1980-1984 and - £148 for 1985-1989). The 1980-1984 cohort undergoes a substantial cohort-on-cohort income loss only in four GORs, even enjoying income increases in three GORs.

Keywords: Economic Geography; Regional Inequality; Spatial; Intergenerational Income Distribution; Intergenerational Mobility JEL Classification: R12; E24; J62 (search for similar items in EconPapers)
Date: 2021
New Economics Papers: this item is included in nep-geo, nep-mac and nep-ure
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Persistent link: https://EconPapers.repec.org/RePEc:wrk:wrkesp:30

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