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'