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Analyzing and comparing the impact of alternative concepts of resources in distributional studies: Greece, 2004/5

Author

Listed:
  • Theodoros Mitrakos

    (Bank of Greece)

  • Panos Tsakloglou

    (Athens University of Economics and Business)

Abstract

The usual practice in empirical distributional studies is to use either disposable income or consumption expenditure as a proxy for welfare. Essentially, both variables are used as approximations of the unobserved “permanent income” of the population members. This paper exploits the information in the Greek Household Budget Survey of 2004/5 and constructs an indicator of “permanent income” using a latent variable approach. The distributions of disposable income, consumption expenditure and permanent income are compared regarding their level and structure of inequality and poverty. Both inequality and poverty appear to be substantially lower using the distribution of permanent income instead of either the distribution of disposable income or the distribution of consumption expenditure, while differences are also evident when decomposition analysis of inequality and poverty is employed using appropriate indices.

Suggested Citation

  • Theodoros Mitrakos & Panos Tsakloglou, 2010. "Analyzing and comparing the impact of alternative concepts of resources in distributional studies: Greece, 2004/5," Working Papers 111, Bank of Greece.
    • Handle: RePEc:bog:wpaper:111
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    File URL: http://www.bankofgreece.gr/BogEkdoseis/Paper2010111.pdf
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    References listed on IDEAS

    as
    1. Jan Babecký & Philip Du Caju & Theodora Kosma & Martina Lawless & Julián Messina & Tairi Rõõm, 2010. "Downward Nominal and Real Wage Rigidity: Survey Evidence from European Firms," Scandinavian Journal of Economics, Wiley Blackwell, vol. 112(4), pages 884-910, December.
    2. Jan Babecky & Philip Du Caju & Theodora Kosma & Martina Lawless & Julian Messina & Tairi Room, 2009. "The margins of labour cost adjustment : Survey evidence from European firms," Working Paper Research 183, National Bank of Belgium.
    3. Seemhn, 2009. "Monetary Time Series of Southeastern Europe from the 1870s to 1914," Working Papers 94, Bank of Greece.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Tsakloglou, Panos & Antoninis, Manos, 1999. "On the distributional impact of public education: evidence from Greece," Economics of Education Review, Elsevier, vol. 18(4), pages 439-452, October.
    2. Kyriopoulos, Ilias & Nikoloski, Zlatko & Mossialos, Elias, 2019. "The impact of the Greek economic adjustment programme on household health expenditure," Social Science & Medicine, Elsevier, vol. 222(C), pages 274-284.

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    More about this item

    Keywords

    permanent income; inequality; poverty; welfare level;
    All these keywords.

    JEL classification:

    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
    • I31 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General Welfare, Well-Being

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