Growth, inequality, and social welfare: Cross-country evidence
We use social welfare functions that assign weights to individuals based on their income levels to document the relative importance of growth and inequality changes for changes in social welfare. In a large panel of industrial and developing countries over the past 40 years, we find that most of the cross-country and over-time variation in changes in social welfare is due to changes in average incomes. In contrast, the changes in inequality observed during this period are on average much smaller than changes in average incomes, are uncorrelated with changes in average incomes, and have contributed relatively little to changes in social welfare.
Year of publication: |
2014
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Authors: | Dollar, David ; Kleineberg, Tatjana ; Kraay, Aart |
Publisher: |
Luxembourg : Luxembourg Income Study (LIS) |
Saved in:
freely available
Series: | LIS Working Paper Series ; 626 |
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Type of publication: | Book / Working Paper |
Type of publication (narrower categories): | Working Paper |
Language: | English |
Other identifiers: | 81307004X [GVK] hdl:10419/119742 [Handle] |
Source: |
Persistent link: https://www.econbiz.de/10011335803
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