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  • This study examines the impact of the 2008 financial crisis on earnings inequality between social classes in European countries. The research aims to determine whether the crisis widened or compressed the earnings gap and whether the effect was homogeneous across countries. The analysis is based on data from 23 European countries over the period of 2004-2017, utilizing the European Union Statistics on Income and Living Conditions (EU-SILC). Two analytical strategies, three-level multilevel models for time-series cross-sectional data and multivariate analyses over time, are employed to assess the earnings gap between the working class and the upper-middle class. The findings suggest that, in general, the earnings gap between social classes widened under negative macroeconomic conditions during the Great Recession. These results hold across various macro indicators and sensitivity analyses. Moreover, the study investigates the influence of the crisis intensity on the direction of the effect. Contrary to expectations, countries experiencing severe economic recessions did not exhibit a contraction in the class earnings gap, similar to what occurred during the Great Depression. These findings contribute to the understanding of cumulative (dis)advantages theory in the context of economic recessions. The implications of this research are twofold. First, if the working class suffers disproportionately compared to the upper-middle class during economic crises, it can lead to a costly societal and political divide with implications for social stability. Second, understanding the repercussions of the 2008 financial crisis enhances our ability to address future economic downturns effectively. The study highlights the need for policies that mitigate class inequalities during recessions and emphasizes the importance of considering macroeconomic factors in shaping earnings disparities between social classes. (xsd:string)
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  • (SILC) (xsd:string)
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  • EU-SILC-Bibliography (xsd:string)
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  • 2023 (xsd:gyear)
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  • 2023 (xsd:gyear)
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  • 1 (xsd:string)
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  • english (xsd:string)
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  • 28365615 ()
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  • 3 (xsd:string)
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  • Class Inequalities in the wake of the Great Recession: A study of 23 European countries (xsd:string)
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  • Bibsonomy (xsd:string)
  • In Journal of Current Research and Review (JCRR), 14(3), 1-20, 2023 (xsd:string)
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  • European Union Statistics on Income and Living Conditions (EU-SILC) (xsd:string)
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  • 14 (xsd:string)