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Contradictory trends in global income inequality: a tale of two biases

Dowrick, Stephen; Akmal, Muhammad

Description

Did global income inequality rise or fall over the last decades of the twentieth century? The answer depends on how cross-country income comparisons are made. Exchange rate comparisons suggest that inequality rose whilst the purchasing power comparisons of the Penn World Table suggest it fell. We show that both measures of real incomes lead to biased international income comparisons. Exchange rate comparisons ignore the relative price of non-tradables, whilst the fixed price method underlying...[Show more]

CollectionsANU Research Publications
Date published: 2005
Type: Journal article
URI: http://hdl.handle.net/1885/84614
Source: Review of Income and Wealth
DOI: 10.1111/j.1475-4991.2005.00152.x

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