RISING OR FALLING INEQUALITY IN KOREA? POPULATION AGING AND GENERATIONAL TRENDS

Sung Jin Kang, ROBERT RUDOLF

Research output: Contribution to journalArticle

3 Citations (Scopus)

Abstract

Using 30 years of the South Korean household income and expenditure surveys (HIES) from 1982 to 2011, this paper argues that Korea experienced significantly differing generational trends in consumption and income inequality when taking demographic changes related to population aging into account. While income inequality stagnated or slightly rose over the past two generations, consumption inequality in fact declined. These antagonistic trends are likely due to better access of poorer households to financial markets as well as the gradual expansion of the welfare state. In the absence of appropriate policies, rapid population aging will substantially increase overall inequality in the future.

Original languageEnglish
JournalSingapore Economic Review
DOIs
Publication statusAccepted/In press - 2016

Keywords

  • cohort analysis
  • Consumption inequality
  • generational trends
  • income inequality
  • JEL Classifications: D12
  • JEL Classifications: D63
  • JEL Classifications: J11
  • population aging

ASJC Scopus subject areas

  • Economics and Econometrics

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