Chapter

Income Mobility and How it has Changed over Time

Stephen P. Jenkins

in Changing Fortunes

Published in print July 2011 | ISBN: 9780199226436
Published online September 2011 | e-ISBN: 9780191728457 | DOI: http://dx.doi.org/10.1093/acprof:oso/9780199226436.003.0005
Income Mobility and How it has Changed over Time

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This chapter first differentiates four dimensions of income mobility: origin dependence, movement, income growth, and income risk. It then presents data about income mobility from the first three perspectives. It shows that there is much mobility from one year to the next for people of all income origins, regardless of how mobility is summarized. However, most income changes from one year to the next are not very large and, even when incomes are longitudinally averaged, so that transitory variations are smoothed out, substantial permanent income differences are revealed. Analysis of mobility trends reveals that the degree of income mobility within various subperiods between the 1990s and early 2000s did not change over time, regardless of how income mobility is defined.

Keywords: income mobility; origin dependence; income movement; individual income growth; mobility trends

Chapter.  10051 words.  Illustrated.

Subjects: Financial Markets

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