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Intergenerational income mobility and inequality in South Korea
Author(s) -
Nam Jaehyun
Publication year - 2018
Publication title -
international journal of social welfare
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.664
H-Index - 47
eISSN - 1468-2397
pISSN - 1369-6866
DOI - 10.1111/ijsw.12299
Subject(s) - economics , economic inequality , income elasticity of demand , social mobility , income distribution , demographic economics , inequality , labour economics , income inequality metrics , welfare , net national income , income in kind , total personal income , economic mobility , poverty , economic growth , gross income , public economics , sociology , market economy , mathematical analysis , social science , mathematics , tax reform , state income tax
Using data from the Korean Labor and Income Panel Study (KLIPS), recent trends in intergenerational income mobility were explored, examining the relationship between income mobility and income inequality in South Korea. The study found that the intergenerational elasticity of income is about 0.2 and there is no clear‐cut trend in intergenerational income mobility. In addition, this study showed that there is no systematic relation between rising income inequality and intergenerational income mobility in contemporary Korea. Overall, the results indicate that intergenerational income mobility is irresponsive to the income inequality the respondents experienced growing up. It is assumed that education and welfare transfer programs might offset the consequences of income inequality by leading to upward mobility for children from low‐income households.