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through which voters in more unequal countries re-distribute a greater proportion of income and thus (it is argued), by … the distribution of (pre-tax and transfer) factor income across households, and hence on the exact amount of gain by the … income redistribute more in favor of the poor - even when the analysis controls for the older people's share in total …
Persistent link: https://www.econbiz.de/10005079521
Inequality between world citizens in mid-19th century was such that at least a half of it could be explained by income … differences between workers and capital-owners in individual countries. Real income of workers in most countries was similar and …, the situation has changed fundamentally: more than 80 percent of global income differences is due to large gaps in mean …
Persistent link: https://www.econbiz.de/10009320560
It has been well established that the wages of individual workers react little, especially downwards, to shocks that hit their employer. This paper presents new evidence from a unique survey of firms across Europe on the prevalence of downward wage rigidity in both real and nominal terms. The...
Persistent link: https://www.econbiz.de/10008507927
Suppose that all people in the world are allocated only two characteristics: country where they live and income class …'s global income position (percentile in world income distribution) is explained by only these two pieces of information. Mean … country income (circumstance) explains 60 percent, and income class (both circumstance and effort) 30 percent of global income …
Persistent link: https://www.econbiz.de/10005129015
(within-country) inequalities, which are already high, are kept in check. Mean-income convergence would also reduce the huge …
Persistent link: https://www.econbiz.de/10010829448
Firms very rarely cut nominal wages, even in the face of considerable negative economic shocks. This paper uses a unique survey of fourteen European countries to ask firms directly about the incidence of wage cuts and to assess the relevance of a range of potential reasons for why the firms...
Persistent link: https://www.econbiz.de/10010829478