Stagnating median incomes despite economic growth: Explaining the divergence in 27 OECD countries
02 Sep 2016
INET Oxford's Prof Brian Nolan, Max Roser & Stefan Thewissen have written a column for Vox describing the divergence between household income and GDP per capita for 27 OECD countries.
With inequality rising and household incomes across developed countries stagnating, accurate monitoring of living standards cannot be achieved by relying on GDP per capita alone. This column analyses the path of divergence between household income and GDP per capita for 27 OECD countries. It finds several reasons why GDP per capita has outpaced median incomes, and recommends assigning median income a central place in official monitoring and assessment of living standards over time.
For the full article please click here.