Search

In 2019, the Federal Deposit Insurance Corporation (FDIC) reported that 7.1 million households in the United States (5.4%) were unbanked and lacked a checking or savings account). Using three leading household surveys, this paper documents how the interaction between bank access and poverty has evolved over time. We present a historical time series of unbanked rates, showing high‐unbanked rates for those in poverty even with increases in financial access over time. In the 1980s, 49.6% of households in poverty were unbanked while 22.8% were unbanked in 2019. Unbanked rates were even higher for Black and Hispanic households that were in poverty. In the 1980s, these groups had unbanked rates of 73.6% and 66.5% which declined to 38.4% and 31.8% in 2019, respectively. To explain differences in banking rates by race, we use binary Kitagawa‐Oaxaca‐Blinder decompositions. Socio‐demographic characteristics explain less than half the difference in unbanked rates for Blacks and around half for Hispanics. [ABSTRACT FROM AUTHOR]

In its first years in office, the Labour Government set out a wide-ranging and ambitious set of policies aimed at reducing poverty, inequality and social exclusion. A decade on, with the party facing probable catastrophic defeat in the next general election, how far can these ambitions be said to have been met? This article summarises the evidence. It also examines the most recent government White Paper on social mobility, New Opportunities: Fair Chances for the Future, published in January 2009, and asks whether this paper represents a serious last attempt to renew the equal opportunities agenda. [ABSTRACT FROM AUTHOR]

Poverty was already a main problem in Afghanistan even before, but it has exacerbated due to the pandemic. However, the actual impact of the pandemic on households had not been investigated. This study provides such analysis using data obtained from a strictly random survey of 1060 households in the capital of Balkh, the fourth most populated province in Afghanistan. Using headcount ratio and poverty gap measures and both income and expenditure approaches, the results show that an additional 12% of households fell below the poverty line, from an already high of 75% before the pandemic. The poverty gap index rises to 34%, but the computed Gini coefficient indicates no significant change in inequality. Poor governance and corruption in Afghanistan are major impediments to address the issue of poverty. This paper suggests several measures which can be implemented to have effective policies and governance to alleviate poverty. [ABSTRACT FROM AUTHOR]

Motivation: How is research on social issues shaped in Latin America? How much attention do researchers give to poverty and inequality? What is the focus of research on these issues? Purpose: The paper aims to analyse the main patterns of academic publications on poverty and inequality in Latin America. Approach and methods: A bibliometric analysis based on different sources is used to review the main trends of publications on poverty and inequality in the region between 1990 and 2014. Findings: We find that although Latin America is widely recognized as one of the most unequal regions worldwide, poverty—not inequality—has been at the centre of the region's research agendas for many years. We detect a gradual shift in research from poverty to inequality, both in the academic literature and in the publications of international organizations. Policy implications: These findings provide new elements to better understand how and why researchers choose certain topics over others. This understanding is important both to gain knowledge on what researchers are prioritizing, and to shed light on the relationship between those priorities and public policies to combat poverty and inequality. [ABSTRACT FROM AUTHOR]

This paper starts out from a puzzle. During the past thirty years, incomes have grown more unequal, a small group at the top has captured a much greater share of resources and poverty has increased. Despite this, most people are markedly less likely to want government to redistribute income or tackle poverty and are less sympathetic towards those without jobs. The greater insecurity of many people's lives in the current crisis renders the issue more perplexing. This paper describes trends in inequality, poverty and unemployment; presents new data on attitudes, media discussion and political platforms; discusses theoretical approaches from social psychologists, political scientists, sociologists and other commentators; and considers how a more generous welfare state might be pursued. [ABSTRACT FROM AUTHOR]

This paper analyses how well the latest in a long line of reforms to the British pension system will serve the low-income population and protect against a means-tested old age. We argue that New Labour's proposals (set out in the Green Paper ‘A New Contract for Welfare: Partnership in Pensions’) will develop a new relationship between public and private pension provision which leads to a much wider role for means testing. We illustrate our argument by looking at faults written into the design of the pension system and by examining the experiences of the new regime that a range of hypothetical, low-income individuals would have. We find that, contrary to the government's message, the proposed State Second Pension will not be a replacement for SERPS but will, in fact, combine with the basic pension to provide a new flat-rate pension aimed at the poorest. Low-income individuals and those with broken work histories will face great difficulty in avoiding a means-tested old age. Furthermore, increased reliance on annuity income in retirement may also propel significant numbers of the middle classes into means testing. Far from simplifying the pension system, the proposals will add complexity, making it difficult for individuals to make an optimal pension choice. In conclusion, the proposed pension partnerships are likely to be unsustainable and therefore likely to lead to a continuance of the cycle of pension reform. [ABSTRACT FROM AUTHOR]

In this paper, I take Capital in the Twenty-First Century by Thomas Piketty as the starting point for a set of twelve policy proposals that could bring about a genuine shift in the distribution of income towards less inequality. In designing the set of proposals, I draw on the experience of reducing inequality in postwar Europe and on an analysis as to how the economic circumstances are now different in the twenty-first century, highlighting the role of technical change and the rise in capital emphasized by Piketty. The proposed measures span many fields of policy, and are not confined to fiscal redistribution, encompassing science policy, competition policy, public employment, a guaranteed return on small savings, a capital endowment, as well as more progressive taxation of income and wealth transfers, and a participation income. Inequality is embedded in our social structure, and the search for a significant reduction requires us to examine all aspects of our society. I focus on inequality within countries, and what can be achieved by national governments, with the UK specifically in mind. The primary audience is those concerned with policy-making in national governments, but implementation should not be seen purely in these terms. There are different levels of government, and certain proposals, particularly those concerned with taxation, may only be feasible if pursued by a group of countries in collaboration. The last of the twelve proposals - for a basic income for children - is specifically directed at the European Union. Finally, actions by individuals as consumers, as workers, or as employers, can all contribute to reducing inequality. [ABSTRACT FROM AUTHOR]

This paper analyses poverty and calorific undernourishment in the Indian state of Gujarat, where high and market-led industrial growth has resulted in rapid economic improvement. The study is carried out through a combination of secondary and survey-based data. We conclude that the neoliberal agenda of uncontrolled, outward-looking growth has not resulted in significant reduction of poverty or malnourishment in rural areas. Furthermore, while land ownership is officially used as a proxy for wealth distribution, class position appears a better predictor of poverty status in the rural areas than landownership per se. At the policy level, there is a need to revive the agrarian economy and create new non-agricultural assets, and the primary focus in the state must shift to the distribution of created assets rather than a single-minded focus on growth. [ABSTRACT FROM AUTHOR]

This paper analyses geographical trends in relative poverty in England and Wales over the last century by comparing key quantitative indicators from key dates. The comparison is made possible by interpolating all the datasets onto a single standardized geography. Results suggest rising inequality in spite of the decline in absolute poverty. [ABSTRACT FROM AUTHOR]