Has the Income Share of the Middle and Upper-middle been Stable over Time, or is its Current Homogeneity across the World the Outcome of a Process of Convergence? The ‘Palma Ratio’ Revisited José Gabriel Palma

The income-share of the rich, the most crucial of all distributional stylised facts, is what largely explains why inequality is so unequal across the world.

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(This paper has been published in Cambridge Working Papers in Economics (CWPE) 1437.)