Cover -- Economic Well-Being and Inequality: Papers from the Fifth ECINEQ Meeting -- Copyright page -- Contents -- List of Contributors -- Introduction -- The Asset Price Meltdown and Household Wealth over the Great Recession in the United States -- Introduction -- The Context -- Data Sources and Methods -- Median Wealth Plummets over the Late 2000s -- Wealth Inequality Jumps in the Late 2000s -- The Share of Overall Wealth Gains, 1983–2010 -- Household Debt Continues to Remain high -- Portfolio Composition by Wealth Class -- The “Middle Class Squeeze” -- The Role of Leverage in Explaining the Steep Fall in Median Wealth and the Sharp Rise in Wealth Inequality over the Great Recession -- Two Arithmetic Examples -- Rates of Return -- The Racial Divide Widens over the Great Recession -- Wealth Shifts from the Young to the Old -- Summary and Concluding Remarks -- Notes -- References -- Cross-National Differences in Wealth Portfolios at the Intensive Margin: Is There a Role for Policy? -- Introduction -- Data -- Methodology -- The Level of Wealth Holdings -- Decomposing the Cross-Country Level of Wealth Holdings -- Results -- Country Differences in Asset Level Determinants -- Decomposition of Wealth Levels across the Distribution -- Decomposition Example -- Components of Wealth Portfolios -- Total Financial Assets -- Risky Assets -- Principal Residence -- Investment Real Estate -- Mortgage Debt -- Non-Housing Debt -- Cohort Differences -- The Intensive versus the Extensive Margin of Investment -- The Role of Institutions and Culture -- Financial Development -- Economic Freedom -- Bank Regulation -- Tax Rate -- Household Equity in Life Insurance and Pension Fund Reserves -- Mortgage Characteristics -- Mathematical Literacy -- Conclusions -- Notes -- Acknowledgments -- References -- Appendix -- The Decomposition of Well-Being Dimensions: An Application to Germany -- Introduction -- Background -- Data -- Socio-Demographic Information -- Income Sources -- Consumption Expenditure -- Wealth -- Limitations -- Method -- The Inequality Indicator -- Equivalence Scales -- The Shift-Share Method -- Results -- General Inequality Findings -- Subcategory-Specific Decompositions -- Decomposition of Potential Income -- Decomposition of (Net) Income -- Decomposition of Consumption Expenditure -- Decomposition of Wealth -- Socio-Demographic Decompositions -- Inequality Levels and Relative Positions -- Decomposition by Socio-Demographic Variables and Well-Being Dimensions -- Shift-Share Analyses -- Conclusions -- Notes -- References -- On the Estimation of the Global Income Distribution Using a Parsimonious Approach -- Introduction -- Modeling Income Using the Lamé Family of Distributions -- Estimation with Limited Information -- Modeling Regional and Global Income Distributions -- Data and Estimation -- Testing the Validity of the Model -- Results -- Regional and Global Income Distributions -- Inequality Patterns During the Nineties -- Conclusions -- Notes -- Acknowled.
gments -- References -- Poverty Has Declined, but What about the Burden of Non-Extreme Poverty? Generalized Dominance Criteria for Convex Subsets within the Poverty Domain -- Introduction -- Poverty Measurement and Generalized Dominance Conditions -- The General Framework -- Dominance Conditions for the Upper Part of the Poverty Domain and Continuous Poverty Indices -- Dominance Conditions for any Convex Subset of the Poverty Domain and/or Non-Continuous Poverty Indices -- What about Non-Extreme Poverty Changes in the Developing World? -- Estimating a Developing World Distribution of Income -- Results -- Conclusion -- Notes -- Acknowledgments -- References -- Appendix: Proofs -- Proof of Propositions 1 and 2 -- Proof of Proposition 3 -- Proof of Proposition 4 -- Are Mass Media and ICTs Associated with Inequality and Poverty? -- Introduction -- Mass Media and ICT -- Political Accountability -- Political Mechanisms -- Corruption -- The Effect of ICTs -- Growth -- Inequality -- Data and Empirical Strategy -- Measures of Mass Media Penetration -- Measures of ICT and Telephony -- Measures of Inequality and Poverty -- Associations of Inequality and Poverty with ICTs and Media -- Inequality, and ICTs and Media -- Poverty, ICTs and Media -- Issues of Endogeneity: Role of mass media -- Results -- Conclusion -- Notes -- References -- Appendix: Countries Used in the Analyses -- Socioeconomic Inequality in Happiness in the United States -- Introduction -- The Method -- The Results -- Happiness in the United States: From 1994 to 2012 -- Happiness Comparisons of Subgroups by Gender, Race, and Age -- Conclusions -- Notes -- References -- Cross-Country Intergenerational Status Mobility: Is There a Great Gatsby Curve? -- Introduction -- Estimation of the Intergenerational Elasticity -- Data -- Inequality and Social Status -- Empirical Results -- Conclusions -- Notes -- References -- Perception of Income Inequality: A Multidimensional Scaling Study -- Introduction -- Materials and Methods -- Results -- Discussion -- Notes -- References -- Appendix -- The Questionnaire (Own Translation) -- Income Inequality Questionnaire -- Polarization of Time and Income – A Multidimensional Analysis for Germany -- Introduction -- Multidimensional Polarization: Identification, Aggregation and Multidimensional CES Well-Being Function -- Multidimensional Polarization: Identification and Aggregation -- Multidimensional Polarization: Multidimensional CES Well-Being Function -- Multidimensional Polarization: New Indices Based on a Multidimensional (CES) Well-Being Function -- Multidimensional Well-Being Polarization (Median) -- Multidimensional Well-Being Polarization (Poverty and Affluence Threshold Lines) -- Multidimensional Well-Being Polarization Asymmetry -- Minimum Multidimensional Polarization Gap (2DGAP) -- Single Poverty/Affluence Attribute Gaps -- Relative Minimum 2DGAP -- Aggregation and Mean Minimum Polarization 2DGAP -- The Benefit: Transparency of Single Attributes of Mul.
tidimensional Polarization -- The n-Dimensional Case -- Input Distance Function Approach and Minimum 2DGAP -- Multidimensional Time and Income Polarization in Germany – Justification of Attributes and Polarization Threshold Line Concept -- Time and Income as Multidimensional Polarization Attributes -- Why Use Income as a Polarization Dimension? -- Why Use Time as a Polarization Dimension? -- Why Interdependent Time and Income Polarization? -- Income, Time, and Multidimensional Poverty and Affluence Threshold Line Concepts -- Income: Poverty and Affluence Threshold Line Concept -- Time: Poverty and Affluence Threshold Line Concept -- Multidimensional Time and Income Polarization in Germany – Data and Empirical Threshold Lines -- Data: GSOEP 2002 and GTUS 1991/1992 and 2001/2002 -- The German Socio-Economic Panel (GSOEP) -- GTUSs 1991/1992 and 2001/2002 -- Empirical Time, Income, and Well-Being Multidimensional Poverty and Affluence Threshold Lines, Germany, 1991/1992 and 2001/2002 -- Multidimensional Time and Income Polarization in Germany – Headcount Ratios, Well-Being Gap, and Minimum 2DGAP Results -- Overall Multidimensional Polarization Results: Headcount Ratios and Well-Being Gaps -- Unidimensional Polarization Results -- Multidimensional Well-Being Results -- Multidimensional Polarization by the Minimum 2DGAP -- Multidimensional Polarization Well-Being and Minimum 2DGAP Results Compared -- Multidimensional Time and Income Polarization in Germany – Results for Socio-Demographic Groups -- Concluding Remarks -- Notes -- Acknowledgment -- References -- Appendix: Polarization Measures in the Literature -- Unidimensional Polarization Measures -- Multidimensional Polarization Measures -- On the Measurement of Regional Convergence in Inequality and Welfare -- Introduction -- The Methodology -- Measuring the Regional Convergence of Per Capita Incomes -- Measuring the Regional Convergence of within Regions Inequalities and of Welfare Levels of the Various Regions -- Decomposing the Degree of Regional Convergence in the Welfare Level of the Various Regions into Per Capita Income and Inequ... -- An Empirical Illustration – Portugal between 1985 and 2006 -- Measuring the Regional Convergence of Per Capita Incomes -- Measuring the Regional Convergence of within Regions Inequalities and of Regional Welfare Levels -- Decomposing the Degree of Regional Convergence in the Welfare Level of the Various Regions into Per Capita Income and Inequ... -- Concluding Comments -- Notes -- Acknowledgment -- References -- Appendix A: On the Concept of Shapley Decomposition -- Appendix B: Database -- Appendix B1: Econometric Results for Regional Convergence of Per Capita Incomes -- Appendix B2: Econometric Results for Regional Convergence of within Regions Inequalities -- Appendix B3: Econometric Results for the Welfare Levels of the Various Regions -- Regional Income Convergence in Portugal (1991–2002) -- Introduction -- Literature Review -- Methodology and Information So.
