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Measuring top income shares in the UK
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Advani, Arun, Summers, Andy and Tarrant, Hannah (2023) Measuring top income shares in the UK. Working Paper. Coventry: University of Warwick. Department of Economics. Warwick economics research papers series (WERPS) (1454). (Unpublished)
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Official URL: https://warwick.ac.uk/fac/soc/economics/research/w...
Abstract
Information about the share of total income held by the richest 1%, or other top income groups, is increasingly used to discuss inequality levels and trends within and between nations. A top income share is the ratio of the total income held by the top income group divided by total personal income (the ‘income control total’). We compare two approaches to estimating income control totals: the ‘external’ approach used by the World Inequality Database, and an augmented ‘internal’ approach. We argue in favour of the latter, with reference to five desirable properties that a top share series would ideally possess. The choice matters: our augmented ‘internal’ approach yields estimates of the UK top 1% share that are around 2 percentage points higher than the ‘external’ approach.
Item Type: | Working or Discussion Paper (Working Paper) | |||||||||
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Subjects: | H Social Sciences > HB Economic Theory H Social Sciences > HC Economic History and Conditions |
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Divisions: | Faculty of Social Sciences > Economics | |||||||||
Library of Congress Subject Headings (LCSH): | Income distribution , Distribution (Economic theory) | |||||||||
Series Name: | Warwick economics research papers series (WERPS) | |||||||||
Publisher: | University of Warwick. Department of Economics | |||||||||
Place of Publication: | Coventry | |||||||||
ISSN: | 0083-7350 | |||||||||
Official Date: | February 2023 | |||||||||
Dates: |
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Number: | 1454 | |||||||||
Institution: | University of Warwick | |||||||||
Status: | Not Peer Reviewed | |||||||||
Publication Status: | Unpublished | |||||||||
Access rights to Published version: | Free Access (unspecified licence, 'bronze OA') | |||||||||
Description: | This paper also appears as CAGE Discussion paper 610 |
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RIOXX Funder/Project Grant: |
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Open Access Version: |
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