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KMID : 1124020100260010033
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Korean Social Security Studies
2010 Volume.26 No. 1 p.33 ~ p.60
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An Analysis on Change in Income Inequality of Urban Households Based on Decomposition of the Gini Coefficient by Income Sources
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Kim Gene-Uhc
Chung Eui-Chul
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Abstract
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This paper examines a change in income inequality between 2002 and 2007 based on decomposition of the Gini coefficient by income sources. To account for a household’s life-cycle characteristics, we divided urban households into eight groups based on their head’s ages. While overall income inequality of all households measured by Gini coefficient was worsened between 2002 and 2007, income inequality of each age group was changed by different sources of income. Income inequality of the households with their head’s age of the early 40’s and the early 60’s was improved because financial income and property income inequalities were improved for the households with their head’s age of the early 40’s even though their labor income inequality was worsened and labor income inequality was improved for the households with their head’s age of the early 60’s. Income inequality of the households with their head’s age of the latter 20’s, the early 30’s, the latter 40’s and the early 50’s was worsened because their labor income inequality was worsened. Therefore, it can be said that labor income was the main factor to affect the change in income inequality during this period. Policies to improve employment types and to extend retirement age can improve labor income inequality.
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KEYWORD
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Income Inequality, Gini Coefficient, Decomposition by Income Sources, Age of Household Head
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