History-dependent growth incidence: a characterization and an application to the economic crisis in Italy

descriptionPublicationkeyboard_double_arrow_right Article , Other literature type , Preprint 01 Jan 2013 Belgium, Italy English Publisher:Oxford University Press (OUP)Journal:Oxford Economic Papers, volume 68, pages 585-603 (issn: 0030-7653, eissn: 1464-3812,

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Authors: PALMISANO, FLAVIANA; Van de gaer, Dirk;

doi: 10.1093/oep/gpw002 , 10.2139/ssrn.2231927

handle: 10261/133499 , 11573/930199 , 1854/LU-8507800

History-dependent growth incidence: a characterization and an application to the economic crisis in Italy

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Abstract

We propose a characterization of an aggregate measure of growth that takes into account the initial economic conditions of individuals. Our measure is a weighted average of individuals' income growth with weights that are decreasing with the rank of the individual in the initial income distribution. We apply our theoretical framework to evaluate the growth processes experienced by the Italian population. Even when we correct for the differences in mean income growth, and focus on the distribution of growth only, the 2008-2010 growth process was the worst of the last decade.

Peer Reviewed

Countries

Belgium, Italy

Related Organizations

Université Catholique de Louvain
Belgium
University of Bari Aldo Moro
Italy
Ghent University
Belgium
Sapienza University of Rome
Italy
University of Luxembourg
Luxembourg

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Keywords

Growth, income mobility, axioms, Italy, distribution of growth, income mobility, growth incidence, Individual income growth, pro-poor growth, economic crisis., Individual income growth, directional income mobility, pro-poor growth, economic crisis., jel: jel:D63, jel: jel:D31, jel: jel:I32

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