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Income versus Consumption Inequality in Korea: Evaluating Stochastic Dominance Rankings by Various Household Attributes
Department of Economics, Sogang University, South Korea.ORCID iD: 0000-0002-7902-4683
Division of International Studies, Korea University, South Korea.
2014 (English)In: Asian Economic Journal, ISSN 1351-3958, E-ISSN 1467-8381, Vol. 28, no 4, 413-436 p.Article in journal (Refereed) Published
Abstract [en]

Using four rounds (1999, 2002, 2005 and 2008) of the Korean Labor and Income Panel Study, the present paper examines determinants of household income and consumption levels and inequalities. Unconditional as well as conditional stochastic dominance tests are performed by year, by household heads' characteristics (age, education, gender, health, marital status and occupation) and by household characteristics (household type, household size and degree of urbanization). Mean least squares regression techniques are used to predict conditional expectations. The residuals containing effects for each characteristic conditional on the remaining characteristics are then used for the stochastic dominance analysis employing extended Kolmogorov-Smirnov tests of first-order and second-order dominance in distribution of income and consumption. The results provide a detailed and up-to-date picture of inequality and poverty by subgroup in Korea, which helps in targeting particularly vulnerable groups. While inequality in disposable income is found to be substantial, consumption inequality is less substantial. Households headed by the elderly, the uneducated, the divorced, the widowed, females, and those with health problems are found to be the most vulnerable groups.

Place, publisher, year, edition, pages
2014. Vol. 28, no 4, 413-436 p.
Keyword [en]
bootstrap, consumption inequality, disposable income, poverty, Korea, stochastic dominance
National Category
Economics
Identifiers
URN: urn:nbn:se:hj:diva-25963DOI: 10.1111/asej.12043ISI: 000346657800005OAI: oai:DiVA.org:hj-25963DiVA: diva2:794401
Available from: 2015-03-11 Created: 2015-03-11 Last updated: 2016-01-14Bibliographically approved

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Citation style
  • apa
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  • de-DE
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