Poverty and income inequality

David Miles, 04 January 2019

If our wealth has been acquired unjustly in the past, does that injustice fade or persist? David Miles of Imperial College tells Tim Phillips how economics can help to answer this question.

Juan C. Palomino, Gustavo A. Marrero, Juan Gabriel Rodríguez, 03 January 2019

The American Dream is grounded in the US being the land of opportunities, but real opportunity requires mobility across generations. This column examines the influence of parents’ income on the income of their children in the US for the period 1980-2010. Parental income has a greater influence, implying lower levels of mobility, for families with the highest and lowest levels of income. Education also plays a stronger role in economic persistence at both tails of the income distribution, while race affects mobility in the middle and lower parts of the distribution. 

Edward Wolff, 23 December 2018

Unlike income inequality, wealth inequality along racial lines in the US has received relatively little attention. This column presents new evidence on the changing landscape of relative wealth among whites, blacks, and Hispanics between 1983 and 2016. Using an augmented measure of wealth, it highlights how cuts to social security will disproportionately affect minorities.

Eric Gould, 19 December 2018

Declining manufacturing jobs in the US has a disproportionate impact on less-educated workers. Given that the black population is less educated than the white population, this will have a larger effect on blacks relative to whites. This column uses US Census data to show that the decline has increased inequality both within black and white communities and between black and white communities. It has also widened racial gaps in income, employment, health, marriage, and family formation.

Maia Güell, Michele Pellizzari, Giovanni Pica, Sevi Rodriguez Mora, 26 November 2018

Measuring intergenerational mobility and understanding its drivers is key to removing the obstacles to equal opportunities and assuring a level playing field in access to jobs and education. This column uses the informational content of Italian surnames to show that social mobility varies greatly across regions in the country, and that it correlates positively with economic activity, education and social capital, and negatively with inequality. The findings suggest that policies and political institutions are unlikely to be the main drivers of geographical differences in social mobility.

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