On the link between functional and personal distribution in Italy

19/07/2011 § Leave a comment

Over the past decades, Italian wage and salary earners have become more and more unable to call the same share of value added theirs. Wider disparities in workers pay structure have meant that a small segment of the salaried workforce has not seen its share decline. The proportion of income allotted to the unprivileged part of the working class has thus been impaired not only by other incomes, but also by labour income at the top of the pay scale. Surprisingly, these alterations in both wage share and wage dispersion have not been mirrored in a long lasting worsening in personal income distribution. This apparent de-link between functional and personal income distribution is discussed in the present work, relying on the Bank of Italy Survey on household income and wealth. The essay calls attention to the influences on personal income inequality exerted by the massive growth in imputed property income as distinct from actual property income, and by the increasing spread ofprecarious and badly paid jobs.  essay pdf tables xls figures xls

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