Income, consumption and wealth inequality in Spain
| Autor: | Elena Vozmediano, Jose Maria Casado, Olympia Bover, Mario Izquierdo, Iván Kataryniuk, Brindusa Anghel, Aitor Lacuesta, Laura Hospido, Henrique S. Basso, José Manuel Montero |
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| Rok vydání: | 2018 |
| Předmět: |
inequality
Lohnunterschied Ungleichheit income distribution Labour supply Konsum Vermögen lcsh:K4430-4675 labor supply lcsh:HD72-88 Sociology & anthropology Economic inequality Allgemeine Soziologie Makrosoziologie spezielle Theorien und Schulen Entwicklung und Geschichte der Soziologie Per capita Economics J31 050207 economics D31 Arbeitsangebot Household consumption 050205 econometrics media_common savings 05 social sciences Wage dispersion Finanzkrise Wage Per capita income assets Sparen Household saving income Einkommensverteilung wage ddc:301 Einkommensunterschied Haushaltseinkommen General Economics Econometrics and Finance Personal income E21 Inequality household income Lohn media_common.quotation_subject lcsh:Economic growth development planning Wealth Survey of Household Finances (EFF) Spanish Structure of Earnings Survey (EES) European Structure of Earnings Survey (ESES) European Household Finance and Consumption Survey (HFCS) Spanish Labour Force Survey (EPA) Continuous Sample of Working Histories (MCVL) European Union Statistics on Income and Living Conditions (EU-SILC) 0502 economics and business ddc:330 difference in income D14 General Sociology Basic Research General Concepts and History of Sociology Sociological Theories consumption lcsh:Public finance Spanien Consumption (economics) financial crisis wage difference Soziologie Anthropologie Spain Household income Demographic economics Einkommen |
| Zdroj: | SERIEs: Journal of the Spanish Economic Association SERIEs: Journal of the Spanish Economic Association, Vol 9, Iss 4, Pp 351-387 (2018) |
| Popis: | This paper analyses the level of inequality in Spain and how it evolved over the course of the past crisis and the early stages of the current recovery. To this end, it first introduces the various dimensions of wage, income, consumption and wealth inequality, and studies how they have developed. The analysis shows less wage dispersion in Spain than in other comparable economies, even after the crisis years, while the surge in unemployment during the period resulted in a high level of inequality in per capita income. The level of inequality in Spain is more moderate when total gross household income is analysed, decreasing during the crisis as a result of pensions developing more favourably than other sources of income, in conjunction with young people delaying setting up home. Inequality in per capita consumption rose during the crisis, particularly as a result of a decrease in expenditure on consumer durables by low-income households. Wealth inequality exceeds income inequality and increased during the downturn as a result of financial assets outperforming real assets. Nevertheless, Spain’s wealth inequality is moderate by international standards, as ownership of real assets is more widespread than in other countries. The way inequality has evolved during the early stages of the current economic recovery shows that falling unemployment has enabled a reduction in wage income inequality, as well as in per capita income inequality, albeit to a lesser extent. |
| Databáze: | OpenAIRE |
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