2023-09-28 14:46:10 +00:00
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abstract: 'Globalization is often blamed for widening income gaps. However, there
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could be country specific causes of income inequality that could be
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addressed by domestic policy interventions. This chapter studies whether
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escalating housing prices have contributed to the growing income gap in
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Singapore. Housing price escalations involve a substantial income
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redistribution away from home buyers for owner occupation to property
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developers, rental property owners, and financiers. This effect is
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largely reflected in nonlabour earnings. Even with household labour
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income data, we find that rising private property prices have a small
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but statistically significant effect on income inequality, measured by
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the percentile ratio P90/P10. Unexpectedly, the most robust variable
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that explains this income ratio is the share of resident graduates in
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total employment. This variable shows an inverted U effect on income
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inequality. A similar inverted U effect is found with a productivity
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ratio variable used to measure the effect of globalization.'
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affiliation: 'Abeysinghe, T (Corresponding Author), Natl Univ Singapore, Singapore,
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Singapore.
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Abeysinghe, Tilak; Hao, Wong Yan, Natl Univ Singapore, Singapore, Singapore.'
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author: Abeysinghe, Tilak and Hao, Wong Yan
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author_list:
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- family: Abeysinghe
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given: Tilak
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- family: Hao
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given: Wong Yan
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booktitle: 'MANAGING GLOBALIZATION IN THE ASIAN CENTURY: ESSAYS IN HONOUR OF
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PREMA-CHANDRA ATHUKORALA'
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da: '2023-09-28'
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editor: Hill, H and Menon, J
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files: []
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isbn: 978-981-47-6227-4; 978-981-47-6228-1; 978-981-47-6230-4
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keywords-plus: 'FIRM HETEROGENEITY; CEO COMPENSATION; ECONOMIC-GROWTH; TRADE;
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UNEMPLOYMENT; WAGES; MODEL; GDP'
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language: English
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number-of-cited-references: '35'
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pages: 221-239
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papis_id: 8d3cd64dd21537a527427ee2be4e3cb2
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ref: Abeysinghe2016housingprices
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times-cited: '0'
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title: 'Housing Prices, Graduates, and Income Inequality: The Case of Singapore'
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2023-10-01 08:15:07 +00:00
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type: article
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2023-09-28 14:46:10 +00:00
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unique-id: WOS:000555693400009
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usage-count-last-180-days: '0'
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usage-count-since-2013: '0'
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web-of-science-categories: Economics; International Relations
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year: '2016'
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