The Evolution of Income Composition Inequality in Italy, 1989–2016
研究了1989至2016年间意大利资本与劳动收入构成不平等的演变，发现底部群体资本收入份额上升、顶部群体劳动收入份额上升，导致收入构成不平等程度下降，并讨论了自住房租金和实际租金的不同影响。
We study the evolution of inequality in income composition in terms of capital and labor income in Italy between 1989 and 2016. We document a rise in the share of capital income accruing to the bottom of the distribution, while the top of the distribution increases its share of labor income. This implies a falling degree of income composition inequality in the period considered and a weaker relationship between the functional and personal distribution of income in Italy. This result is robust to various specifications of self‐employment income; nonetheless, it hinges crucially on the treatment of rental incomes. While the dynamics of imputed rents has brought about a more equitable distribution of capital incomes across the income distribution, that of actual rents has led to higher concentration of capital incomes at the top in the decade preceding the outbreak of the financial crisis. Finally, we conceptualize a rule of thumb for policy makers seeking to reduce income inequality in the long run.