Income distribution in troubled times: Disadvantage and dispersion dynamics in Europe 2005–2013
Roger J. Bowden,
Peter N. Posch and
Finance Research Letters, 2018, vol. 25, issue C, 36-40
A more precise differentiation of directional asymmetry and dispersion of income distributions, drawing on an internal contextual perspective is enabled by introducing a new metric for asymmetry and spread. This dual metric can be plotted over time into a phase plane, enabling comparative social welfare perspectives over time and between countries. We utilize the metrics to visualize the dramatic changes that took place in Europe prior to and after the global financial crisis. Major differences are revealed, in terms of asymmetry and spread, some countries have been fallers (lower in both) while other countries are risers.
Keywords: Asymmetry; Economic disadvantage; Income inequality; Partition entropy; Social welfare function (search for similar items in EconPapers)
JEL-codes: D31 D63 I31 I32 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:25:y:2018:i:c:p:36-40
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