Vincenzo Carrieri, Apostolos Davillas, Andrew M. Jones
Using nine waves of data from Understanding Society (UKHLS), we study the expansion of higher education in the UK and its consequences for levels of and inequalities in income, physical and mental health. University expansion was characterized by a large increase in the proportion of graduates, with higher rates of graduation among individuals from more advantaged socioeconomic backgrounds. Having controlled for birth cohort and lifecycle effects, there is evidence of significant inequality of opportunity (IOp) in the actual outcomes. However, comparing actual outcomes with counterfactual projections, that freeze the likelihood of university graduation and the joint distribution of graduation and circumstances to the pre-1963 levels, we do not detect an impact of the expansion of higher education on IOp in income and only small reductions in IOp in physical and mental health.
{"title":"Equality of opportunity and the expansion of higher education in the UK","authors":"Vincenzo Carrieri, Apostolos Davillas, Andrew M. Jones","doi":"10.1111/roiw.12613","DOIUrl":"https://doi.org/10.1111/roiw.12613","url":null,"abstract":"Using nine waves of data from <i>Understanding Society (UKHLS)</i>, we study the expansion of higher education in the UK and its consequences for levels of and inequalities in income, physical and mental health. University expansion was characterized by a large increase in the proportion of graduates, with higher rates of graduation among individuals from more advantaged socioeconomic backgrounds. Having controlled for birth cohort and lifecycle effects, there is evidence of significant inequality of opportunity (IOp) in the actual outcomes. However, comparing actual outcomes with counterfactual projections, that freeze the likelihood of university graduation and the joint distribution of graduation and circumstances to the pre-1963 levels, we do not detect an impact of the expansion of higher education on IOp in income and only small reductions in IOp in physical and mental health.","PeriodicalId":47853,"journal":{"name":"Review of Income and Wealth","volume":"34 1","pages":""},"PeriodicalIF":2.0,"publicationDate":"2022-08-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138537318","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Dale Weldeau Jorgenson (1933–2022): in Memoriam\u0000 *,1","authors":"Barbara M. Fraumeni","doi":"10.1111/roiw.12611","DOIUrl":"https://doi.org/10.1111/roiw.12611","url":null,"abstract":"","PeriodicalId":47853,"journal":{"name":"Review of Income and Wealth","volume":"13 1","pages":""},"PeriodicalIF":2.0,"publicationDate":"2022-07-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89035935","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Distributional national accounts for the Netherlands and a comparison with 12 other countries","authors":"A. Bruil","doi":"10.1111/roiw.12609","DOIUrl":"https://doi.org/10.1111/roiw.12609","url":null,"abstract":"","PeriodicalId":47853,"journal":{"name":"Review of Income and Wealth","volume":"315 1","pages":""},"PeriodicalIF":2.0,"publicationDate":"2022-07-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80090147","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"When income differences hurt or excite: The nonlinear effect of regional inequality on subjective wellbeing","authors":"L. Becchetti, Francesco Colcerasa, Fabio Pisani","doi":"10.1111/roiw.12608","DOIUrl":"https://doi.org/10.1111/roiw.12608","url":null,"abstract":"","PeriodicalId":47853,"journal":{"name":"Review of Income and Wealth","volume":"107 1","pages":""},"PeriodicalIF":2.0,"publicationDate":"2022-07-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"77425704","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The Great Recession had a major impact on the wellbeing and welfare of households worldwide. Irish data provide a unique opportunity to examine how the recession affected children’s educational performance given the extent of the economic contraction in Ireland during this period. We use longitudinal data from the Growing Up in Ireland study to examine the impact of changes in household income on standardised numerical and verbal test scores during the recession, when cohort members were aged between 9 and 13. We compare regression results from random effects and fixed effects models, the latter of which account for time invariant omitted variables that are potential common causes of both household income and academic performance. We also investigate non-linearities and effect heterogeneity using quantile regression. Log household income is strongly correlated with test scores in the random effects models: a unit decrease is associated with a reduction of 0.2 standard deviations in verbal and numerical test scores for boys and verbal scores for girls, and 0.1 standard deviations in numerical scores for girls. Quantile results suggest that, for boys, those with high ability are less affected. However, in the fixed effects models the coefficients are attenuated by more than 50%. Overall, there is little evidence of short-run negative effects of the Great Recession on children’s educational performance. In this paper we estimate the effect of transitory shocks; further data are required to isolate the impact of permanent income and any long-run impacts.
{"title":"The Great Recession, Household Income, and Children's Test Scores","authors":"M. McGovern, S. Rokicki","doi":"10.1111/roiw.12600","DOIUrl":"https://doi.org/10.1111/roiw.12600","url":null,"abstract":"The Great Recession had a major impact on the wellbeing and welfare of households worldwide. Irish data provide a unique opportunity to examine how the recession affected children’s educational performance given the extent of the economic contraction in Ireland during this period. We use longitudinal data from the Growing Up in Ireland study to examine the impact of changes in household income on standardised numerical and verbal test scores during the recession, when cohort members were aged between 9 and 13. We compare regression results from random effects and fixed effects models, the latter of which account for time invariant omitted variables that are potential common causes of both household income and academic performance. We also investigate non-linearities and effect heterogeneity using quantile regression. Log household income is strongly correlated with test scores in the random effects models: a unit decrease is associated with a reduction of 0.2 standard deviations in verbal and numerical test scores for boys and verbal scores for girls, and 0.1 standard deviations in numerical scores for girls. Quantile results suggest that, for boys, those with high ability are less affected. However, in the fixed effects models the coefficients are attenuated by more than 50%. Overall, there is little evidence of short-run negative effects of the Great Recession on children’s educational performance. In this paper we estimate the effect of transitory shocks; further data are required to isolate the impact of permanent income and any long-run impacts.","PeriodicalId":47853,"journal":{"name":"Review of Income and Wealth","volume":"175 1","pages":""},"PeriodicalIF":2.0,"publicationDate":"2022-07-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"79774016","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Quantifying Bias and Inaccuracy of Upper‐Level Aggregation in the Harmonised Index of Consumer Prices for Germany and the Euro Area","authors":"J. Herzberg, T. Knetsch, P. Schwind, S. Weinand","doi":"10.1111/roiw.12602","DOIUrl":"https://doi.org/10.1111/roiw.12602","url":null,"abstract":"","PeriodicalId":47853,"journal":{"name":"Review of Income and Wealth","volume":"217 1","pages":""},"PeriodicalIF":2.0,"publicationDate":"2022-07-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75760898","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This study proposes a new measure of the tradability of 120+ commodities based on price dispersion. This approach is used to construct price indices of tradables and non-tradables for 150+ countries. The expenditure share of tradables is lower for richer countries, while the relative price of non-tradables, which plays an important role in the determination of real exchange rates, is higher. Secondly, a common-factor approach (based on principal components) is introduced to compress the large volume of information on prices and quantities consumed globally. We find that cross-commodity correlations are higher for prices than for consumption. In addition, income is responsible for most of the variation in the first principal component of consumption but explains less of the first price component. This suggests consumption are driven primarily by domestic factors, while prices are determined by factors outside the country, along the lines of the Purchasing Power Parity theory.
{"title":"Understanding International Price and Consumption Disparities","authors":"Long Hai Vo","doi":"10.1111/roiw.12603","DOIUrl":"https://doi.org/10.1111/roiw.12603","url":null,"abstract":"This study proposes a new measure of the tradability of 120+ commodities based on price dispersion. This approach is used to construct price indices of tradables and non-tradables for 150+ countries. The expenditure share of tradables is lower for richer countries, while the relative price of non-tradables, which plays an important role in the determination of real exchange rates, is higher. Secondly, a common-factor approach (based on principal components) is introduced to compress the large volume of information on prices and quantities consumed globally. We find that cross-commodity correlations are higher for prices than for consumption. In addition, income is responsible for most of the variation in the first principal component of consumption but explains less of the first price component. This suggests consumption are driven primarily by domestic factors, while prices are determined by factors outside the country, along the lines of the Purchasing Power Parity theory.","PeriodicalId":47853,"journal":{"name":"Review of Income and Wealth","volume":"1 1","pages":""},"PeriodicalIF":2.0,"publicationDate":"2022-07-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138537321","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Housing and Income Inequality in Europe: Distributional Effects of Non‐Cash Income From Imputed Rents","authors":"Emanuel List","doi":"10.1111/roiw.12597","DOIUrl":"https://doi.org/10.1111/roiw.12597","url":null,"abstract":"","PeriodicalId":47853,"journal":{"name":"Review of Income and Wealth","volume":"14 1","pages":""},"PeriodicalIF":2.0,"publicationDate":"2022-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78935279","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Noemi Oggero, Francesco Devicienti, M. Rossi, D. Vannoni
In this paper, we investigate how the intergenerational transmission of entrepreneurship varies between sons and daughters, and whether such a process depends on living in a country characterized by a high gender gap. Using the SHARE dataset, we find that the effect on daughters’ entrepreneurial choices of having an entrepreneur as father is lower than the one on sons only in countries with a high gender gap. Moreover, it is just in countries with high gender inequality that the effect of having an entrepreneurial mother is different between sons and daughters, with the impact being positive for daughters only. We also develop an individual-level indicator of gender gap within countries that corroborates our findings, which we interpret as evidence of the presence of a role modeling mechanism. However, we find evidence of convergence across time of the intergenerational transmission process to the gender-independent transfer typical of more gender equal countries.
{"title":"You can't be what you can't see: The role of gender in the intergenerational transmission of entrepreneurship","authors":"Noemi Oggero, Francesco Devicienti, M. Rossi, D. Vannoni","doi":"10.1111/roiw.12601","DOIUrl":"https://doi.org/10.1111/roiw.12601","url":null,"abstract":"In this paper, we investigate how the intergenerational transmission of entrepreneurship varies between sons and daughters, and whether such a process depends on living in a country characterized by a high gender gap. Using the SHARE dataset, we find that the effect on daughters’ entrepreneurial choices of having an entrepreneur as father is lower than the one on sons only in countries with a high gender gap. Moreover, it is just in countries with high gender inequality that the effect of having an entrepreneurial mother is different between sons and daughters, with the impact being positive for daughters only. We also develop an individual-level indicator of gender gap within countries that corroborates our findings, which we interpret as evidence of the presence of a role modeling mechanism. However, we find evidence of convergence across time of the intergenerational transmission process to the gender-independent transfer typical of more gender equal countries.","PeriodicalId":47853,"journal":{"name":"Review of Income and Wealth","volume":"2008 1","pages":""},"PeriodicalIF":2.0,"publicationDate":"2022-06-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"86235266","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"THE GENDER WEALTH GAP IN EUROPE: APPLICATION OF MACHINE LEARNING TO PREDICT INDIVIDUAL‐LEVEL WEALTH","authors":"M. Kukk, J. Meriküll, Tairi Rõõm","doi":"10.1111/roiw.12596","DOIUrl":"https://doi.org/10.1111/roiw.12596","url":null,"abstract":"","PeriodicalId":47853,"journal":{"name":"Review of Income and Wealth","volume":"108 1","pages":""},"PeriodicalIF":2.0,"publicationDate":"2022-06-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76332739","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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