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On the long-run dynamics of income and wealth inequality

Lookup NU author(s): Professor Atanu Ghoshray



This work is licensed under a Creative Commons Attribution 4.0 International License (CC BY 4.0).


© 2021, The Author(s). We analyse top income and wealth shares data, by conducting a robust estimation of trends, tests for structural breaks, and tests for determining persistence. We include Anglo-Saxon countries, continental Europe and Asian countries, grouped under different percentiles and deciles, spanning a period that is at least close to a century. We find that the top income shares for almost all countries are characterised by broken trends, or level shifts. The preponderance of trend breaks appears in the 1970s and 1980s where after a negative trend changes in magnitude or direction. Finally, shocks to the top income share data are not transitory, which have consequences for policy such as advocating redistributive measures.

Publication metadata

Author(s): Ghoshray A, Malki I, Ordóñez J

Publication type: Article

Publication status: Published

Journal: Empirical Economics

Year: 2022

Volume: 62

Issue: 2

Pages: 375-408

Print publication date: 01/02/2022

Online publication date: 07/04/2021

Acceptance date: 09/03/2021

Date deposited: 26/11/2020

ISSN (print): 0377-7332

ISSN (electronic): 1435-8921

Publisher: Springer Nature


DOI: 10.1007/s00181-021-02043-1


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