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