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ifo Institut – Leibniz-Institut für Wirtschaftsforschung an der Universität München >
CESifo Working Papers, CESifo Group Munich >
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http://hdl.handle.net/10419/52458
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| Title: | | Evaluating real world income distributions behind the veil of ignorance: How risk averse do you have to be to prefer Europe over the US?  |
| Authors: | | Weichenrieder, Alfons Zafar, Tasneem |
| Issue Date: | | 2011 |
| Series/Report no.: | | CESifo working paper: Public Finance 3632 |
| Abstract: | | The paper uses a veil of ignorance approach and income distribution data of developed countries to arrive at inequality corrected income rankings. While a risk neutral individual (based on year 2000 data) would have preferred to be born into the US rather than any European country in our sample except Luxembourg, a coefficient of relative risk aversion of 2 suffices to make several European countries look preferable. The paper also sheds light on the risk corrected average income on a gender basis and scans for times of diminished expectations, i.e. periods where the expected utility of being born into a country has reduced over time. |
| Subjects: | | income distribution veil of ignorance cross country comparison |
| JEL: | | D31 H23 |
| Document Type: | | Working Paper |
| Appears in Collections: | | CESifo Working Papers, CESifo Group Munich
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