Final published version
Licence: CC BY-NC: Creative Commons Attribution-NonCommercial 4.0 International License
Research output: Book/Report/Proceedings › Other report
Research output: Book/Report/Proceedings › Other report
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TY - BOOK
T1 - Briefing Note: Medium-run wealth inequality following COVID-19
AU - Angelopoulos, Konstantinos
AU - Lazarakis, Spyridon
AU - Mancy, Rebecca
AU - Schroeder, Max
PY - 2021/1/26
Y1 - 2021/1/26
N2 - COVID-19 has led to a severe economic recession. We examine its potential medium-run effects on household-level wealth inequality in the UK. We use modelling analysis to study short and long recession scenarios. In the short recession scenario, there is a significant increase in wealth inequality characterised by a combination of a decrease in wealth accumulation for economically active households with lower income, an increase in wealth accumulation for households with higher incomes, and an increase in within-group inequality. In the long recession scenario, a worsening of the income and employment effects of the recession and a slower recovery lead to particularly severe wealth losses for economically active households with lower income, giving rise to a very large increase in inequality
AB - COVID-19 has led to a severe economic recession. We examine its potential medium-run effects on household-level wealth inequality in the UK. We use modelling analysis to study short and long recession scenarios. In the short recession scenario, there is a significant increase in wealth inequality characterised by a combination of a decrease in wealth accumulation for economically active households with lower income, an increase in wealth accumulation for households with higher incomes, and an increase in within-group inequality. In the long recession scenario, a worsening of the income and employment effects of the recession and a slower recovery lead to particularly severe wealth losses for economically active households with lower income, giving rise to a very large increase in inequality
M3 - Other report
BT - Briefing Note: Medium-run wealth inequality following COVID-19
ER -