INCOME DISTRIBUTION

Jonathan E Leightner

Chapter 8 in The Limits of Fiscal, Monetary, and Trade Policies:International Comparisons and Solutions, 2014, pp 171-186 from World Scientific Publishing Co. Pte. Ltd.

Abstract: Income distribution in the world is becoming less equal. This is clearly shown in Table 8.1 which provides Gini Coefficient estimates for 45 countries. Of these countries, only Ecuador, Lithuania, Mexico, Spain, and Venezuela had Gini Coefficients that were falling and only France had a stable Gini Coefficient. The other 39 countries had rising Gini Coefficients indicating a decrease in income equality. The mean Gini Coefficient in Table 8.1 increased from 31.4 to 35.2 for a 12% fall in income equality, but that average weighs each country the same no matter what their population is. Consider the world's two largest economies as of 2013: the USA and China. The Gini Coefficient for the USA increased from 34.4 in 1979 to 40.1 in 2000 for a 16.6% increase. China's Gini Coefficient more than doubled from 22.4 in 1985 to 44.9 in 2003. Furthermore, the most recent Gini Coefficient estimates in Table 8.1 are from 2006, before the current crisis and before the current austerity measures aimed at reducing labor's share of income…

Keywords: Crisis; Government Policy; Glut Of Savings; Surplus Of Savings; Consumption; Fiscal Policy; Monetary Policy; Trade Policy; Exchange Rate Policy; Income Distribution; Austerity; Speculative Bubbles; Internal Devaluation; Keynesian Multipliers; Quantitative Easing; Currency War; USA; UK; China; Japan; Russia; Brazil; Europe; Greece; Ireland; Italy; Portugal; Spain (search for similar items in EconPapers)
Date: 2014
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