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This paper updates and extends my earlier work (published in the June 2007 issue of the Journal of Economic Issues on how the middle class fares throughout the world. Wave #6 data from the Luxembourg Income Study, recently released and centered around 2004, provides an opportunity to assess what...
Persistent link: https://www.econbiz.de/10008669035
This paper updates and extends my earlier work, published in the Journal of Economic Issues, on how the middle class fares throughout the world. My 2007 paper provided a definition of the middle class as well as estimates of the size of the middle class in several nations. It argued that the...
Persistent link: https://www.econbiz.de/10003881707
Economic downturns give rise to unexpected employment shocks that can reshape the distribution of population income, and hence produce a "middle-class squeeze". However, there is limited empirical evidence testing the latter. This paper aims at testing the "middle-class squeeze" hypothesis...
Persistent link: https://www.econbiz.de/10011734383
We examine whether economic downturns reshape the distribution of population income giving rise to a "middle-class squeeze." We test this hypothesis using alternative definitions of middle-class, such as income-based measures from the Luxembourg Income Study (LIS), and perceived measures from...
Persistent link: https://www.econbiz.de/10011961160
Persistent link: https://www.econbiz.de/10013436215