Atkinson Anthony, Bourguignon François. Handbook of Income Distribution. Volume 2B. North Holland, 2014. — 2366 p..

The aim of the Handbooks in Economics series is to produce Handbooks for various branches of economics, each of which is a definitive source, reference, and teaching supplement for use by professional researchers and advanced graduate students. Each Handbook provides self-contained surveys of the current state of a branch of economics in the form of chapters prepared by leading specialists on various aspects of this branch of economics. These surveys summarize not only received results but also newer developments, from recent journal articles and discussion papers. Some original material is also included, but the main goal is to provide comprehensive and accessible surveys. The Handbooks are intended to provide not only useful reference volumes for professional collections but also possible supplementary readings for advanced courses for graduate students in economics. KennethJ. Arrow and Michael D. Intriligator

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CONTENTS

CONTRIBUTORS

NTRODUCTION: INCOME DISTRIBUTION TODAY

Anthony B. Atkinson*, Franςois Bourguignon *Nuffield College, Oxford, UK ^Paris School ofEconomics, Paris, France

SETTING THE SCENE

DIFFERENT FACETS OF INEQUALITY

DATA ON INEQUALITY

TAKING ECONOMIC THEORY SERIOUSLY

THE ROLE OF POLICY

PART III Explanations

CHAPTER 14 Inequality in Macroeconomics

Vincenzo Quadrini*, Jose-Victor Rios-Rull+ University of Southern California, CEPR, Los Angeles, CA, USA ^University of Minnesota, Federal Reserve Bank of Minneapolis, CAERP, CEPR, NBER, Minneapolis, MN, USA

Contents

In a handbook devoted to income distribution, a chapter devoted to macroeconomics should start by clarifying the role of macroeconomics.

SOME FACTS ON THE INCOME AND WEALTH DISTRIBUTION

MODELING THE SOURCES OF MACRO INEQUALITY

THE DYNAMICS OF INEQUALITY

INEQUALITY AND FINANCIAL MARKETS

THE POLITICAL ECONOMY CHANNEL

CONCLUSION

CHAPTER 15 Wealth and Inheritance in the Long Run

Thomas Piketty*, Gabriel Zucman+ Paris School ofEconomics, Paris, France ^London School ofEconomics, London, UK

Contents

INTRODUCTION

THE LONG-RUN EVOLUTION OF WEALTH-INCOME RATIOS

THE LONG-RUN EVOLUTION OF WEALTH CONCENTRATION

THE LONG-RUN EVOLUTION OF THE SHARE OF INHERITED WEALTH

ACCOUNTING FOR THE EVIDENCE: MODELS AND PREDICTIONS

CONCLUDING COMMENTS AND RESEARCH PROSPECTS

CHAPTER 16 Intrahousehold Inequality

Pierre-Andre Chiappori*, Costas Meghir+ Department of Economics, Columbia University, NY, USA ^Department of Economics, Yale University, New Haven, CT, USA

Contents

INTRODUCTION

THE COLLECTIVE MODEL: CONCEPTS, DEFINITIONS, AND AXIOMS

MODELING HOUSEHOLD BEHAVIOR: THE COLLECTIVE MODEL

THE DETERMINANTS OF INTRAHOUSEHOLD ALLOCATION

IDENTIFICATION

EMPIRICAL FINDINGS

CONCLUSION

CHAPTER 17 Health and Inequality

Owen O'Donnell*'1, EddyVan Doorslaert, Tom Van Ourti* Erasmus School of Economics & Tinbergen Institute, Erasmus University Rotterdam, Rotterdam, The Netherlands ^School of Economics and Area Studies, University of Macedonia, Thessaloniki, Greece {Erasmus School of Economics, Tinbergen Institute & Institute for Health Policy and Management, Erasmus University Rotterdam, Rotterdam, The Netherlands

Contents

Abstract

INTRODUCTION

HEALTH AND INCOME: A FIRST PASS

HEALTH DETERMINATION OF ECONOMIC INEQUALITY

ECONOMIC DETERMINATION OF HEALTH INEQUALITY

ECONOMIC INEQUALITY AS A DETERMINANT OF HEALTH

CONCLUSION

CHAPTER 18 Labor Market Institutions and the Dispersion of Wage Earnings

Wiemer Salverda*'1, Daniele Checchit Amsterdam Institute for Advanced Labour Studies (AIAS), University of Amsterdam, Amsterdam, The Netherlands ^Amsterdam Centre for Inequality Studies (AMCIS), University of Amsterdam, Amsterdam, The Netherlands {Department of Economics, University of Milan, Milano, Italy and IZA, Bonn, Germany

Contents

Abstract

INTRODUCTION

EARNINGS DISTRIBUTION AND INCOME DISTRIBUTION: A SHORT TALE OF TWO LONG LITERATURES

WAGE DISPERSION: MEASUREMENT AND STYLIZED FACTS

THEORETICAL APPROACHES TO WAGE DISPERSION AND THE ROLE OF INSTITUTIONS

LMIs AND WAGE INEQUALITY: AN EMPIRICAL ASSESSMENT

CONCLUSION AND FUTURE RESEARCH

CHAPTER 19 Cross-Country Evidence of the Multiple Causes of Inequality Changes in the OECD Area

Michael F. Forster*, Istvan Gyorgy Toth+ *OECD, Paris, France ^Tarki Social Research Institute, Budapest, Hungary

Contents

Abstract

INTRODUCTION

THE RESEARCH QUESTION AND METHODS TO EXPLAIN INEQUALITY AND ITS CHANGE

DATA SOURCES FOR CROSS-COUNTRY STUDIES

DEFINITION OF INEQUALITY MEASURES AND THEIR VARIABILITY

DRIVERS OF INEQUALITY: MAIN EXPLANATIONS

CONCLUSIONS: MAJOR FINDINGS FROM THE LITERATURE SURVEY AND IMPLICATIONS FOR FURTHER RESEARCH

CHAPTER 20 Globalization and Inequality

Ravi Kanbur Cornell University, Ithaca, NY, USA

Contents

Abstract

INTRODUCTION

IMMEDIATE POST-WAR THEORIES, PREDICTIONS, AND EVIDENCE

EXPERIENCE AND NEW THEORY FROM THE 1980s ONWARD

ECONOMIC CRISIS AND INCOME DISTRIBUTION

GLOBALIZATION AND GENDER INEQUALITY

OPENNESS AND SPATIAL INEQUALITY

INTERNATIONAL MIGRATION, REMITTANCES, AND INEQUALITY

NATIONAL AND GLOBAL POLICY RESPONSES

CONCLUSION

PART IV Policies

CHAPTER 21 Democracy, Redistribution, and Inequality

Daron Acemoglu*, Suresh Naidu+, Pascual Restrepo*, James A. Robinsont *Massachusetts Institute of Technology, Cambridge, MA, USA tColumbia University, NY, USA tHarvard University, Cambridge, MA, USA

Contents

Abstract

INTRODUCTION

THEORETICAL CONSIDERATIONS

PREVIOUS LITERATURE

ECONOMETRIC SPECIFICATION AND DATA

MAIN RESULTS

CONCLUSION

CHAPTER 22 The Idea of Antipoverty Policy

Martin Ravallion Department of Economics, Georgetown University, Washington, DC, USA

Contents

Abstract

INTRODUCTION

WEALTH DYNAMICS AND ANTIPOVERTY POLICIES

THE UTILITY OF POVERTY

THE FIRST POVERTY ENLIGHTENMENT

THE LONG GERMINATION OF THE IDEA OF A WORLD FREE OF POVERTY

THE SECOND POVERTY ENLIGHTENMENT

THE IDEA OF A PROGRESSIVE MARKET ECONOMY

THE FINAL BLOW TO THE IDEA OF THE UTILITY OF POVERTY?

DIRECT INTERVENTIONS IN MODERN TIMES

CONCLUSIONS

CHAPTER 23 The Welfare State and Antipoverty Policy in Rich Countries

Ive Marx*,t, Brian Nolan{, Javier Oliveras Herman Deleeck Centre for Social Policy, University of Antwerp, Antwerp, Belgium ^Institute for the Study of Labor, IZA, Bonn, Germany Department of Social Policy and Intervention and Institute for New Economic Thinking at the Oxford Martin School, University of Oxford, UK }Institute for Research on Socio-Economic Inequality, RU INSIDE, University of Luxembourg, Luxembourg, Luxembourg

Contents

Abstract

SETTING THE SCENE

SOCIAL PROTECTION AND REDISTRIBUTION

FUTURE RESEARCH DIRECTIONS

CHAPTER 24 Microsimulation and Policy Analysis

Francesco Figari*,+, Alari Paulus+, Holly Sutherland+ University of Insubria, Varese, Italy ^Institute for Social and Economic Research (ISER), University of Essex, Colchester, UK

Contents

Abstract

INTRODUCTION AND OVERVIEW

WHAT DOES MICROSIMULATION ADD TO ANALYSIS OF INCOME DISTRIBUTION AND REDISTRIBUTION?

THE EFFECTS OF POLICY CHANGES ON INCOME DISTRIBUTION

CHALLENGES AND LIMITATIONS

BROADENING THE SCOPE

CONCLUSIONS AND OUTLOOK FOR THE FUTURE

INDEX

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