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Stagnating median incomes despite economic growth: Explaining the divergence in 27 OECD countries

Description:

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.

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Authors:

Brian Nolan
Max Roser
Stefan Thewissen

Type: Journal Articles & Working Papers