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Objective: This article aims to analyze the evolution of income inequality and mobility in Spain during the period 1999–2011 by exploiting data from personal income tax returns. Methods: To assess the evolution of inequality over the period analyzed, we have used some of the many metrics developed for this purpose, each of which offers a different approach depending on the segment of the income distribution they focus on (Gini coefficient, income shares, generalized entropy index, and the Atkinson class of measures). Results: Our results suggest that, after a period of slightly declining income inequality, Spain experienced a rise in inequality in the years immediately preceding the Great Recession, before falling back to precrisis levels. With regard to income mobility, during this period, it was more common for individuals in the middle of the distribution to experience changes, while those at the top and bottom maintained a more stable position. Conclusions: The economic boom of the late 1990s and early 2000s, as well as the Great Recession, had a significant impact on income inequality and mobility. [ABSTRACT FROM AUTHOR]

Purpose: This paper aims to study, by means of an empirical approach, how monetary policy might affect the distribution of individual income. Design/methodology/approach: After describing the channels through which monetary policy could impinge on income distribution, the authors carry out a panel analysis of 62 countries that control their monetary policy for the period 1996–2015. Findings: Using two possible proxy variables for monetary policy (the monetary aggregate M3 and the real interest rates), the results reveal a significant positive relationship between real interest rates and income inequality measured through the market Gini coefficient and polarization ratios. The findings suggest that central bankers should be more aware of the redistributive effects of monetary policy. Research limitations/implications: It should be mentioned the major challenge of data limitation in the empirical investigation on the relationship between monetary policies and inequalities. Practical implications: The empirical evidence presented in this paper supports the premise that central bankers should not ignore the unintended redistributive consequences of their actions. In this regard, it is worth noting that if, in addition to price stability, central banks are also responsible for financial stability; the rationale behind central bank independence needs to be reconsidered. Originality/value: An outstanding feature of the paper is its sample size and the variety of countries included in the sample, which includes countries from all continents and with very different levels of economic development. Also, unlike papers based on forecasting modeling – e.g. Vector autoregression (VAR) or Structural vector autoregression (SVAR) models, the study follows an explanatory approach, including not only monetary variables, but also a series of regressors that may have a meaningful and significant impact on inequality, according to a wide literature. [ABSTRACT FROM AUTHOR]

In this paper, we analyse the income distributions in 40 Spanish cities at the neighborhood level using tax data for the 2013–2018 period recently published by the national Tax Agency. To accomplish this, we use several inequality indicators, including the Gini coefficient and the Theil index, whose decomposition allows us to examine the level of segregation of the municipalities in the sample in depth. Our results reveal that the period immediately following the last economic crisis was characterized by an increased income concentration at the top of the distribution, which was mainly due to rising differences within the districts of each city, and by an incipient trend towards greater segregation by income level in the cities under analysis. Moreover, there are significant differences in inequality in the urban centres studied that are not necessarily attributable to the size of their population. Finally, over the period under review, the dependence on labour income and the tax burden were further reduced in the wealthiest districts. • The period from 2013 to 2018 was characterized in Spain by an increased income concentration at the top of the distribution. • This trend was mainly due to rising differences within the districts of each city. • There is an incipient trend towards greater segregation by income level in the cities under analysis. • The differences in inequality in the cities studied are not necessarily attributable to the size of their population. • The dependence on labour income and the tax burden were further reduced in the wealthiest districts. [ABSTRACT FROM AUTHOR]