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The world-wide rise of within inequality ( because of globalization and technology)

INTERNATIONAL ECONOMICS ADV. Massimo Tamberi. The world-wide rise of within inequality ( because of globalization and technology). Outline of this presentation. 1 - Inequality trends: 1.1 - general evidence 1.2 - polarization 1.3 - extreme inequality

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The world-wide rise of within inequality ( because of globalization and technology)

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  1. INTERNATIONAL ECONOMICS ADV. Massimo Tamberi The world-wide rise of within inequality (because of globalization and technology)

  2. Outline of this presentation 1 - Inequality trends: 1.1 - general evidence1.2 - polarization1.3 - extreme inequality 2 - Possible causes of inequality:2.1 - social mobility2.2 - demography2.3 - technology2.4 – globalization (with notes)

  3. Inequality trends:general evidence

  4. The Kuznets world (?)……. after WW II (1950-1970) Source: Cornia, Addison, Kiiski (2003), Income distribution changes and their impact in the post-war II period, UNU WIDER discussion paper 2003/28

  5. but what really happened was ….. Source: Cornia, Addison, Kiiski (2003), Income distribution changes and their impact in the post-war II period, UNU WIDER discussion paper 2003/28

  6. Source: IMF World Economic Outlook, Oct. 2007

  7. Source: IMF World Economic Outlook, Oct. 2007

  8. Source: IMF World Economic Outlook, Oct. 2007

  9. OECD countries …..

  10. \ \ Source: Oecd (2008), Growing unequal?

  11. What in the so-called Transition countries ? Source: Cornia, Addison, Kiiski (2003), Income distribution changes and their impact in the post-war II period, UNU WIDER discussion paper 2003/28

  12. Source: Cornia, Addison, Kiiski (2003), Income distribution changes and their impact in the post-war II period, UNU WIDER discussion paper 2003/28

  13. Source: Cornia, Addison, Kiiski (2003), Income distribution changes and their impact in the post-war II period,, UNU WIDER discussion paper 2003/28

  14. Source: Cornia, Addison, Kiiski (2003), Income distribution changes and their impact in the post-war II period, UNU WIDER discussion paper 2003/28

  15. … and the impact of the state, in general … Source: Oecd (2008), Growing unequal

  16. … and the impact of the state, in specific countries … Source: Oecd (2008), Growing unequal

  17. Inequality trend:Polarization

  18. Source: Van Reenen (2011), Wage Inequality, Technology and Trade: 21st Century Evidence, Occasional paper,Center for Economic Performance

  19. zero relative variation! Source: Autor (2011) The Polarization of Job Opportunities in the U.S. Labor Market: Implications for Employment and Earnings, Community Investments, Fall 2011 – Volume 23, Issue 2

  20. Source: Van Reenen (2011), Wage Inequality, Technology and Trade: 21st Century Evidence, Occasional paper,Center for Economic Performance

  21. Source: Van Reenen (2011), Wage Inequality, Technology and Trade: 21st Century Evidence, Occasional paper,Center for Economic Performance

  22. Inequality trend:extreme inequality

  23. US economy Source: Piketty, Saez (2003), Income inequality in the United States, 1913–1998, Quarterly Journal of Economics, February, issue 1

  24. US economy Source: Piketty, Saez (2003), Income inequality in the United States, 1913–1998, Quarterly Journal of Economics, February, issue 1

  25. US economy Source: Piketty, Saez (2003), Income inequality in the United States, 1913–1998, Quarterly Journal of Economics, February, issue 1

  26. Source: Piketty, Saez (2003), Income inequality in the United States, 1913–1998, Quarterly Journal of Economics, February, issue 1

  27. Source: Oecd (2008), Growing unequal?

  28. Source: Acemoglu, Autor(2010 ), Skills, Tasks and Technologies: Implications for Employment and Earnings, MIT

  29. Source: Acemoglu, Autor(2010 ), Skills, Tasks and Technologies: Implications for Employment and Earnings, MIT

  30. US economy income of the poor = wage income income of the rich = capital income Population quantiles Source: Piketty, Saez (2003), Income inequality in the United States, 1913–1998, Quarterly Journal of Economics, February, issue 1

  31. US economy Income of the rich = mainly wage income Population quantiles Source: Piketty, Saez (2003), Income inequality in the United States, 1913–1998, Quarterly Journal of Economics, February, issue 1

  32. A different story: France (1) Piketty (2005), Top income shares in the long run: an overview, Journal of the European Economic Association, April–May, 3(2–3):1–11

  33. A different story: France (2) Piketty (2005), Top income shares in the long run: an overview, Journal of the European Economic Association, April–May, 3(2–3):1–11

  34. Possible causes of inequality:- social mobility - demography - technology - globalization

  35. social mobility

  36. EXAMPLE: if intergenerational earnings elasticity of 0.20, this means that if an individual in that country earns $10,000 less income than the average, 20 per cent of that difference (or, $2,000) will be passed on to the individual’s children. In other words, the children will earn $2,000 less than the average. SOURCE: http://www.conferenceboard.ca/hcp/details/society/intergenerational-income-mobility.aspx

  37. THE GREAT GATSBY CURVE Intergenerationalearningselasticity Source: Miles Corak, (2012)Inequality from generation to generation: the United States in Comparison

  38. demography

  39. Relative Income by age of individuals selected OECD countries Equivalised household disposable income, mid-2000s OECD (2008), Growing unequal? …

  40. Relative Income of individuals by age Average household disposable income of two age groups (examples) relative to that of people aged 41 to 50, mid-1980s and mid-2000s OECD (2008), Growing unequal? …

  41. Changes in income inequality assuming a constant age structure Country period gini gini (const. age struct.) Australia 1995-2004 –0.008 –0.011 Belgium 1985-2000 0.053 0.049Italy 1984-2004 0.063 > 0.069 Finland 1986-2004 0.062 < 0.058 Germany 1985-2005 0.044 0.045 United Kingdom 1985-2005 0.051 0.049 Source: OECD (2008), Growing unequal?

  42. Technology:Inequality and the labor market

  43. Source: IMF WEO Oct. 2007

  44. Source: Autor (2011) The Polarization of Job Opportunities in the U.S. Labor Market: Implications for Employment and Earnings, Community Investments, Fall 2011 – Volume 23, Issue 2

  45. Source: Feenstra, Hanson, (2001), Global production sharing and rising inequality: a survey of trade and wages, Davis University

  46. Source: Feenstra, Hanson, (2001), Global production sharing and rising inequality: a survey of trade and wages, Davis University

  47. Shares of Employment by Education Level, USA - 1963-1995 Source: Deardorff (1998), Technology, trade, and increasing inequality: does the cause matter for the cure Michigan University

  48. Source: Deardorff (1998), Technology, trade, and increasing inequality: does the cause matter for the cure? Michigan University

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