Income Inequality and Self-Reported Values

Giacomo Corneo and Frank Neher

Discussion Paper Series of SFB/TR 15 Governance and the Efficiency of Economic Systems from Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich

Abstract: This paper offers a comprehensive econometric investigation of the impact of income inequality on the values endorsed by people. Using survey data from all thirty-four OECD countries over a period of almost thirty years, the following dimensions of value systems are investigated: work ethic, civism, obedience, honesty, altruism, and tolerance. In most cases, no robust effects from inequality on values are detected. However, there is evidence that a more unequal income distribution strengthens the work ethic of the population. Thus, income inequality seems to generate work incentives not only via the pecuniary reward of work but also through the symbolic reward it receives.

Keywords: Income inequality; Value systems (search for similar items in EconPapers)
JEL-codes: D63 O15 O57 Z1 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-pbe and nep-soc
Date: 2012-05
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Persistent link: http://EconPapers.repec.org/RePEc:trf:wpaper:382

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