IDEAS home Printed from https://ideas.repec.org/a/clr/wugarc/y2009v35i4p551.html
   My bibliography  Save this article

Wachstum und Verteilung unter "New Labour" 1997-2007

Author

Listed:
  • Nikolaus Kowall

Abstract

Zur vielleicht großen Überraschung für viele kontinentale BeobachterInnen hat die Ungleichheit in der britischen Einkommensverteilung im ersten Labour-Jahrzehnt von 1997 bis 2007 abgenommen. Dies gilt sowohl für die funktionelle als auch in geringerem Ausmaß für die personelle Verteilung. Überdies lag das durchschnittliche Wachstum mit einem Mittelwert von 2,84 Prozent deutlich über jenem anderer großer europäischer Volkswirtschaften. Insgesamt weicht die Entwicklung im Vereinigten Königreich (VK) deutlich von jener in der restlichen EU ab. Der Artikel versucht darzulegen, dass zwischen der egalitäreren Verteilung im Vereinigten Königreich und dem gleichzeitigen überdurchschnittlichen Wachstum ein kausaler Zusammenhang besteht. Die britische Entwicklung wird zu diesem Zwecke mit jener in den anderen drei großen europäischen Volkswirtschaften - Deutschland, Frankreich und Italien - verglichen. Die stilisierten Fakten deuten tatsächlich auf einen positiven Einfluss der egalitäreren Einkommensverteilung auf das robuste Wirtschaftswachstum hin.

Suggested Citation

  • Nikolaus Kowall, 2009. "Wachstum und Verteilung unter "New Labour" 1997-2007," Wirtschaft und Gesellschaft - WuG, Kammer für Arbeiter und Angestellte für Wien, Abteilung Wirtschaftswissenschaft und Statistik, vol. 35(4), pages 551-577.
    • Handle: RePEc:clr:wugarc:y:2009v:35i:4p:551
    as

    Download full text from publisher

    File URL: https://emedien.arbeiterkammer.at/viewer/pdf/AC08890876_2009_004/wug_2009_35_4_0551.pdf
    File Function: PDF-file of article
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Eckhard Hein & Achim Truger, 2011. "Fiscal Policy in the Macroeconomic Policy Mix: A Critique of the New Consensus Model and a Comparison of Macroeconomic Policies in France, Germany, the UK and Sweden from a Post-Keynesian Perspective," Chapters, in: Claude Gnos & Louis-Philippe Rochon (ed.), Credit, Money and Macroeconomic Policy, chapter 12, Edward Elgar Publishing.
    2. Engelbert Stockhammer & Özlem Onaran & Stefan Ederer, 2009. "Functional income distribution and aggregate demand in the Euro area," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 33(1), pages 139-159, January.
    3. Case Karl E. & Quigley John M. & Shiller Robert J., 2005. "Comparing Wealth Effects: The Stock Market versus the Housing Market," The B.E. Journal of Macroeconomics, De Gruyter, vol. 5(1), pages 1-34, May.
    4. Michael Kitson & Frank Wilkinson, 2007. "The economics of New Labour: policy and performance," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 31(6), pages 805-816, November.
    5. Case, Karl E. & Quigley, John M. & Shiller, Robert J., 2001. "Comparing Wealth Effects: The Stock Market versus The Housing Market," Department of Economics, Working Paper Series qt44k6g6vx, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
    6. Alvaro Angeriz & Philip Arestis, 2007. "Monetary policy in the UK," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 31(6), pages 863-884, November.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Ciarlone, Alessio, 2011. "Housing wealth effect in emerging economies," Emerging Markets Review, Elsevier, vol. 12(4), pages 399-417.
    2. Cho, Sungwon, 2011. "Housing wealth effect on consumption: Evidence from household level data," Economics Letters, Elsevier, vol. 113(2), pages 192-194.
    3. Chorvat, Terrence, 2006. "Taxing utility," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 35(1), pages 1-16, February.
    4. Vincent (Vincent Peter) Hogan & Patrick O'Sullivan, 2003. "Consumption and house prices in Ireland," Open Access publications 10197/330, School of Economics, University College Dublin.
    5. Thomas Grandner & Dieter Gstach, 2006. "Joint Adjustment of House Prices, Stock Prices and Output Towards Short‐run Equilibrium," Bulletin of Economic Research, Wiley Blackwell, vol. 58(1), pages 1-17, January.
    6. Roger Congleton, 2009. "On the political economy of the financial crisis and bailout of 2008–2009," Public Choice, Springer, vol. 140(3), pages 287-317, September.
    7. Andreas Lehnert, 2004. "Housing, consumption, and credit constraints," Finance and Economics Discussion Series 2004-63, Board of Governors of the Federal Reserve System (U.S.).
    8. Markus Marterbauer & Ewald Walterskirchen, 2005. "Einfluss der Haus- und Wohnungspreise auf Wirtschaftswachstum und Inflation," WIFO Studies, WIFO, number 25691.
    9. Bharat Barot & Zan Yang, 2004. "House Prices and Housing Investment in Sweden and the UK. Econometric analysis for the period 1970-1998," Macroeconomics 0409022, University Library of Munich, Germany.
    10. repec:hal:spmain:info:hdl:2441/75koqefued8i7pihbrl9u84p4u is not listed on IDEAS
    11. Charles Goodhart & Boris Hofmann, 2005. "The IS curve and the transmission of monetary policy: is there a puzzle?," Applied Economics, Taylor & Francis Journals, vol. 37(1), pages 29-36.
    12. Wong, Wang-Li & Law, Siong Hook & Said, Rusmawati & Chin, Lee, 2015. "Consumption and Housing Wealth: A Malaysian Case that Demonstrates a Negative Relationship," MPRA Paper 96866, University Library of Munich, Germany.
    13. Gregory D Sutton, 2002. "Explaining changes in house prices," BIS Quarterly Review, Bank for International Settlements, September.
    14. Ansgar Belke & Marcel Wiedmann, 2005. "Boom or Bubble in the US Real Estate Market?," Diskussionspapiere aus dem Institut für Volkswirtschaftslehre der Universität Hohenheim 260/2005, Department of Economics, University of Hohenheim, Germany.
    15. Lin, Tsoyu Calvin & Lin, Zong-Han, 2011. "Are stock and real estate markets integrated? An empirical study of six Asian economies," Pacific-Basin Finance Journal, Elsevier, vol. 19(5), pages 571-585, November.
    16. Chirinko, Robert S. & Haan, Leo de & Sterken, Elmer, 2004. "Asset Price Shocks, Real Expenditures, and Financial Structure:A Multi-Country Analysis," CCSO Working Papers 200411, University of Groningen, CCSO Centre for Economic Research.
    17. Barot, Bharat, 2002. "Growth and Business Cycles for the Swedish Economy 1963-1999," Working Papers 79, National Institute of Economic Research.
    18. Oikarinen, Elias, 2006. "Price Linkages between Stock, Bond and Housing Markets - Evidence from Finnish Data," Discussion Papers 1004, The Research Institute of the Finnish Economy.
    19. Gábor Vadas, 2004. "Modelling Households’ Savings and Dwellings Investment – A Portfolio Choice Approach," International Real Estate Review, Global Social Science Institute, vol. 7(1), pages 31-55.
    20. Stockhammer, Engelbert & Rabinovich, Joel & Reddy, Niall, 2017. "Distribution, wealth and demand regimes in historical perspective. USA, UK, France and Germany, 1855-2010," Economics Discussion Papers 2017-5, School of Economics, Kingston University London.
    21. Schindler, Felix, 2009. "Volatilitätseffekte am US-amerikanischen Häusermarkt," ZEW Discussion Papers 09-048, ZEW - Leibniz Centre for European Economic Research.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:clr:wugarc:y:2009v:35i:4p:551. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Michael Birkner (email available below). General contact details of provider: https://edirc.repec.org/data/awakwat.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.