Incomes Across the Great Recession

10 September 2011

Palermo

The conference focused on short-, medium- and long-term effects of the economic crisis on the income distribution and welfare of both individual and households. The aim of the conference was to analyze changes in the overall distribution of material well-being in terms of real income levels, inequality, and poverty. Groups that have been mostly affected by the crisis were also identified.

During the conference, two teams of researcher presented two reports:

The first team was coordinated by Stephen Jenkins (London School of Economics). Other participants are: Andrea Brandolini (Bank of Italy), John Micklewright (Institute of Education, University of London) and Brian Nolan (University College Dublin). The first report, entitled “The Great Recession and the distribution of household income”, investigates to what extent the economic effects of the recession are universal or heterogeneous across OECD countries in terms of transmission and moderation mechanisms and in terms of distributional impacts. The report also discusses whether the recent recession is different from previous recessions and what lessons can be drawn from the past.
Discussants: Tony Atkinson (Nuffield College, UK) and John Martin (OECD, Paris).
For the second report, entitled “Longer-term consequences on income distribution of the Great Recession?”, the team members were: Agar Brugiavini (Università degli Studi di Venezia “ca’ Foscari”), Guglielmo Weber (Università degli Studi di Padova), Orazio Attanasio (University College London), Margherita Borella (Università degli Studi di Torino), Olympia Bover (Banco de Espana) e Torben Heiden Nielsen (The Danish National Centre for Social Research – SFI). They used SHARELIFE data, a unique dataset on 11 European countries collecting retrospective information, to construct the earnings profile of individuals and estimate permanent income. The purpose of the study was to analyse long term effects of economic crisis on individuals’ permanent income.
Discussants: Gianluca Violante (New York University) and Till Marco von Wachter (Columbia University).

Final panel discussion: “Lessons for policy”

Georg Fischer (European Commission), Fabrizio Perri (University of Minnesota), Nicola Rossi (Università di Roma “Tor Vergata”), Wiemer Salverda (Amsterdam Institute for Advanced Labour Studies – AIAS, University of Amsterdam) and Panos Tsakloglou (Athens University of Economics and Business) participated to the final panel discussion. The final panel was chaired by Tito Boeri (Scientific Director, Fondazione RDB and Università Bocconi).

Download the complete press review of the conference.

Tito Boeri’s interview on RAITRE’s programme “Presa Diretta”:

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