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Inequality and redistribution (Measuring (original income (pensions,…
Inequality and redistribution
Why does inequality matter?
social problems
health
education
Bad for growth
high income households consume less and save more
more savings
not enough investment
Good for growth
more savings
more investment
unfair
equity
Measuring
the share of total income going to the individuals receiving the top 1% of incomes
multiple measures
Equivalised household income
‘Modified OECD’ equivalence scale,
original income
pensions
labour market
capital
Lorenz Curve
Gini Coefficient