Income distribution in Greece (2009-2013)
By Manos Matsaganis & Chrysa Leventi
In this Newsletter we examine a narrow set of public policy questions, though with wider repercussions: what were the effects of the Greek crisis on the income distribution in 2009-2013? Did it cause inequality to rise, and if so, by how much? How fairly has the burden of the crisis been shared among social groups? We find that inequality increased significantly, not so much because the rich became richer, but mostly because the poor became poorer. We also find that, over time, a considerable amount of re-ranking took place, as a result of which the composition of the poorest income deciles changed: a new category of poor (i,e. households with unemployed members living in the urban areas) seems to be taking the place of the traditionally poor (i.e. elderly households living in rural areas).
The full text of the Newsletter is available here (in Greek).