Avatud seminar teemal „Economic integration, within-country and between-country inequality in Europe“
Eesti Panga avatud seminaril tutvustab Jaume I ülikooli dotsent ning Nottinghami ülikooli külalisteadur Javier Ordonez 8. juulil kell 10.30-12.00 uurimust teemal „Economic integration, within-country and between-country inequality in Europe“.
Seminar toimub panga muuseumi pressiruumis ja on inglise keeles. Avatud seminaril esitlemisele tuleva uurimuse lühikirjeldusega saab tutvuda käesoleva kutse lõpuosas.
Palun seminarile registreeruda hiljemalt 5. juulil, andes teada oma osalussoovist kas meili teel Liina.Kulu [at] eestipank.ee
Economic integration, within-country and between-country inequality in Europe
Atanu Ghoshray (Newcastle University Business School),
Mercedes Monfort (Department of Economics and IEI, Jaume I University),
Javier Ordonez (Department of Economics and IEI, Jaume I University)
In this paper, we construct indices that allow us to analyse overall inequality in the EU, as well as inequality within EU countries and between EU countries. To this end, the Theil index, as a measure of inequality, is decomposed to express total inequality as the sum of within-country and between-country inequality. Our analysis of this unique data set allows us to draw three conclusions. First, all three measures of inequality are characterised by breaking trends, with structural breaks demarcating regimes where inequality has shown signs of reversal—from falling levels of inequality to increasing inequality over time. Second, we can map some of the changes in inequality to institutional factors, such as the introduction of the Euro. The compositional effects of the overall inequality in Europe allow us to conjecture that overall inequality before 1999 could have been attributed to inequality within EU countries, whereas from 1999 onwards, inequality between EU countries may have contributed more to the overall inequality trend. Third, shocks to inequality tend to be persistent, raising the need for specific policy measures to cope with the undesirable effects of rising inequality.