The Rich and the Poor in the European Union and the Great Recession: Some Empirical Evidence

Name: The Rich and the Poor in the European Union and the Great Recession: Some Empirical Evidence
Brand: Vita e Pensiero
Price: 6.00 EUR
Availability: OnlineOnly

digital

Article

Magazine

RIVISTA INTERNAZIONALE DI SCIENZE SOCIALI

Issue

RIVISTA INTERNAZIONALE DI SCIENZE SOCIALI - 2015 - 2

Title

The Rich and the Poor in the European Union and the Great Recession: Some Empirical Evidence

Authors

Giuseppina Malerba, Marta Spreafico

Publisher

Vita e Pensiero

Format

Article |

Pdf

Pages

Online from

11-2015

Issn

0035-676X (print) | 1827-7918 (digital)

€ 6.00

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Description

This paper proposes a theoretical framework of the factors that affect the gap between the rich and the poor in the European Union. It uses a twelve-year panel data set from 2002 to 2012 of 27 countries to determine the short-term effects of the macroeconomic performance, the level of household income inequality, and the social protection expenditure on the extremes of the income distribution, controlling for several structural factors of income disparity. The impact of these variables on the shares of income separately accruing to the bottom, median and top household income is estimated. It is found that the three core determinants have a different impact before the Great Recession of 2008 and during the crisis years, and a different public commitment towards reducing disparities depending on the type of welfare regime.