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Fiscal Policy, Growth and Income Distribution in the UK

Keshab Bhattarai (), Jonathan Haughton () and David G. Tuerck

Applied Economics and Finance, 2015, vol. 2, issue 3, 20-36

Abstract: Income and income inequality increased substantially in the UK during the industrial revolution. Income inequality was the highest around 1880.This triggered enactments of more egalitarian tax and transfer system, which halved income inequality by the 1960s. Inequality has risen again with fiscal system reforms in the last five decades. By analysing solutions of a dynamic computable general equilibrium (DCGE) model we show how policies could be designed for the optimal equitable paths of UK economy in the 21st century.

Keywords: growth; redistribution; fiscal policy in UK (search for similar items in EconPapers)
JEL-codes: H2 H3 D3 E6 O41 O52 (search for similar items in EconPapers)
Date: 2015
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Handle: RePEc:rfa:aefjnl:v:2:y:2015:i:3:p:20-36