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How business income affects economic inequality
18 October 2023, 1:00 pm–2:00 pm
Presenting estimates of income concentration and inequality for Norway using a new comprehensive measure of income.
This event is free.
Event Information
Open to
- All
Availability
- Yes
Cost
- Free
Organiser
-
Greta Morando
Location
-
Room G0355-59 Gordon SquareLondonWC1H 0NU
This seminar presents estimates of income concentration and inequality for Norway using a new comprehensive measure of income, which identifies business income as it accrues rather than when it is realised, and high quality register data, which allow the researchers to account for multiple layers of business ownership.
Compared to conventional official statistics, the researchers' new measure implies that the share of income attributable to the top 1% of the distribution more than doubles and the Gini coefficient estimates increase by about 35% on average. Moreover, the new measure identifies substantial tax regressivity for individuals in the top percentile, a feature that cannot be detected by standard measures. For instance, while the fraction of gross income paid in taxes by individuals at the 99th percentile is about 37% in 2016, the corresponding fraction paid by individuals in the top 0.1% is 18%.
This event will be particularly useful for academics and policy makers.
Related links
- Quantitative Social Science (QSS)
- Centre for Longitudinal Studies (CLS)
- QSS and CLS seminar series
- UCL Social Research Institute
Image
Credit: Adeolu Eletu / Unsplash.
About the Speaker
Professor Marco Francesconi
Professor of Economics at Department of Economics, University of Essex
Professor Marco Francesconi is also a Research Fellow of the Institute for Social and Economic Research (Essex), the Centre for Economic Policy Research (London), the Institute for the Study of Labor (Bonn), the CES-ifo network (Munich), and the Centre for Household Income Labour and Demographic economics (Torino). His main area of research is labour economics, with special interest in family economics, socio-genetics, gender, income inequality, early child outcomes, and health. He is an Associate Editor of the European Economic Review and a Co-Editor of Labour Economics.