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

Author

Listed:
  • Giuseppina Malerba

    (Institute of Economic Policy, Catholic University of the Sacred Heart, Milan)

  • Marta R.M. Spreafico

    (Institute of Economic Policy, Catholic University of the Sacred Heart, Milan)

Abstract

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.

Suggested Citation

  • Giuseppina Malerba & Marta R.M. Spreafico, 2015. "The Rich and the Poor in the European Union and the Great Recession: Some Empirical Evidence," Rivista Internazionale di Scienze Sociali, Vita e Pensiero, Pubblicazioni dell'Universita' Cattolica del Sacro Cuore, vol. 123(2), pages 211-242.
    • Handle: RePEc:vep:journl:y:2015:v:123:i:2:p:211-242
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    Cited by:

    1. Aurora A. C. Teixeira & Ana Sofia Loureiro, 2019. "FDI, income inequality and poverty: a time series analysis of Portugal, 1973–2016," Portuguese Economic Journal, Springer;Instituto Superior de Economia e Gestao, vol. 18(3), pages 203-249, October.

    More about this item

    Keywords

    European Union; Great Recession; Household disposable income distribution; Income inequality; Structural determinants;
    All these keywords.

    JEL classification:

    • C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models
    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
    • I38 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Government Programs; Provision and Effects of Welfare Programs

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