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.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
