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We consider an infinite-horizon inter-generational economy with identical agents differing only in their inherited wealth and with a constant-returns-to-scale technology using capital and labour (called "effort") and displaying a purely idiosyncratic risk. If effort is contractible, full...
Persistent link: https://www.econbiz.de/10010746576
inequality. We estimate this parameter using four large cross-sectional surveys of subjective happiness and two panel surveys …
Persistent link: https://www.econbiz.de/10011071383
Temkin (1986,1993) sets out a philosophical basis for the analysis of income inequality that provides an important … axiomatic structure and we use this structure to derive a new class of inequality indices and an inequality ordering. This class … of indices has a family relationship to well-known measures of inequality, deprivation and poverty. The ordering is shown …
Persistent link: https://www.econbiz.de/10010884654
Inequality measurement involves explicit or implicit value judgements. The subjective approach to inequality …
Persistent link: https://www.econbiz.de/10010928600
This article provides a brief overview of the key issues in inequality measurement and has been prepared for inclusion …
Persistent link: https://www.econbiz.de/10010928769
It is known from the literature on uncertainty that in cases where individuals express a preference for a high win-probability bet over a bet with high winnings they nevertheless will bid more to obtain the bet with high winnings. We investigate whether a similar phenomenon applies in the...
Persistent link: https://www.econbiz.de/10010928778
This paper examines how people assess inequality of an income distribution and how inequality could be measured. We … start from philosophical analysis of L Temkin who distinguishes nine plausible aspects of inequality. His approach is based …
Persistent link: https://www.econbiz.de/10010928780
This paper employs a decomposition analysis of inequality by income source to understand and explain particular aspects … of income inequality in Greece. The results suggest that entrepreneurial income is the most significant contributor to … overall inequality in Greece. It is also shown that there is a weak redistributive impact of taxes and social security …
Persistent link: https://www.econbiz.de/10010928797
Building on previous studies on perceptions of inequality, welfare and risk we investigate the structure of individuals …
Persistent link: https://www.econbiz.de/10010744849
Should raising the growth rate of GDP per capita be a policy goal of governments in general, and of the British government in particular? Many people would say no, for the following reasons: 1) GDP is hopelessly flawed as a measure of welfare; 2) Growing GDP is pointless since most people don’t...
Persistent link: https://www.econbiz.de/10010744986