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Fiscal policy, growth and income distribution in the UK

Haughtony, Jonathan; Tuerck, David G.; Bhattarai, Keshab; Haughton, Jonathan Henry; Tuerck, David

Authors

Jonathan Haughtony

David G. Tuerck

Jonathan Henry Haughton

David Tuerck

Abstract

Income and income inequality increased substantially in the UK during the industrial revolution. Income inequality was the highest around 1880. This triggered enactments of more egalitarian tax and transfer system, which halved income inequality by the 1960s. Inequality has risen again with fiscal system reforms in the last five decades. By analysing solutions of a dynamic computable general equilibrium (DCGE) model we show how policies could be designed for the optimal equitable paths of UK economy in the 21st century.

Journal Article Type Article
Publication Date 2015-08
Journal Applied economics and finance
Print ISSN 2332-7308
Electronic ISSN 2332-7294
Publisher Redfame Publishing
Peer Reviewed Peer Reviewed
Volume 2
Issue 3
Pages 20-36
Institution Citation Haughtony, J., Tuerck, D. G., Bhattarai, K., Haughton, J. H., & Tuerck, D. (2015). Fiscal policy, growth and income distribution in the UK. Applied economics and finance, 2(3), 20-36. doi:10.11114/aef.v2i3.830
DOI https://doi.org/10.11114/aef.v2i3.830
Keywords Growth; Redistribution; Fiscal policy in UK
Publisher URL http://redfame.com/journal/index.php/aef/article/view/830
Additional Information Copy of article first published in: Applied economics and finance, 2015, v.2, issue 3

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