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Multidimensional Equality of Opportunity in the United States

Author

Listed:
  • Hufe, Paul

    (University of Bristol)

  • Kobus, Martyna

    (Institute of Economics, Polish Academy of Sciences)

  • Peichl, Andreas

    (Ludwig-Maximilians-Universität München)

  • Schüle, Paul

    (Ifo Institute for Economic Research)

Abstract

Are the United States still a land of opportunity? We provide new insights on this question by invoking a novel measurement approach that allows us to target the joint distribution of income and wealth. We show that inequality of opportunity has increased by 77% over the time period 1983-2016. Increases are driven by two distinct forces: (i) a less opportunity-egalitarian distribution of income until 2000, and (ii) a less opportunity-egalitarian distribution of wealth after the financial crisis in 2008. In sum, our findings suggest that the US have consistently moved further away from a level playing field in recent decades.

Suggested Citation

  • Hufe, Paul & Kobus, Martyna & Peichl, Andreas & Schüle, Paul, 2022. "Multidimensional Equality of Opportunity in the United States," IZA Discussion Papers 15149, Institute of Labor Economics (IZA).
    • Handle: RePEc:iza:izadps:dp15149
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    Cited by:

    1. Daniel Graeber & Viola Hilbert & Johannes König, 2023. "Inequality of Opportunity in Wealth: Levels, Trends, and Drivers," CEPA Discussion Papers 69, Center for Economic Policy Analysis.

    More about this item

    Keywords

    fairness; intergenerational mobility; time trends; measurement;
    All these keywords.

    JEL classification:

    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
    • D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
    • J62 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Job, Occupational and Intergenerational Mobility; Promotion

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