Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/195279
Authors: 
Anghel, Brindusa
Basso, Henrique
Bover, Olympia
Casado, José María
Hospido, Laura
Izquierdo, Mario
Kataryniuk, Ivan A.
Lacuesta, Aitor
Montero, José Manuel
Vozmediano, Elena
Year of Publication: 
2018
Citation: 
[Journal:] SERIEs - Journal of the Spanish Economic Association [ISSN:] 1869-4195 [Volume:] 9 [Year:] 2018 [Issue:] 4 [Pages:] 351-387
Abstract: 
This paper analyses the level of inequality in Spain and how it evolved over the course of the past crisis and the early stages of the current recovery. To this end, it first introduces the various dimensions of wage, income, consumption and wealth inequality, and studies how they have developed. The analysis shows less wage dispersion in Spain than in other comparable economies, even after the crisis years, while the surge in unemployment during the period resulted in a high level of inequality in per capita income. The level of inequality in Spain is more moderate when total gross household income is analysed, decreasing during the crisis as a result of pensions developing more favourably than other sources of income, in conjunction with young people delaying setting up home. Inequality in per capita consumption rose during the crisis, particularly as a result of a decrease in expenditure on consumer durables by low-income households. Wealth inequality exceeds income inequality and increased during the downturn as a result of financial assets outperforming real assets. Nevertheless, Spain's wealth inequality is moderate by international standards, as ownership of real assets is more widespread than in other countries. The way inequality has evolved during the early stages of the current economic recovery shows that falling unemployment has enabled a reduction in wage income inequality, as well as in per capita income inequality, albeit to a lesser extent.
Subjects: 
Inequality
Wage
Labour supply
Personal income
Household saving
Household consumption
Wealth
JEL: 
D31
J31
D14
E21
Persistent Identifier of the first edition: 
Creative Commons License: 
https://creativecommons.org/licenses/by/4.0/
Document Type: 
Article

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