Economic Progress

Household income growth is lagging behind GDP per capita. This is why

New homes sit next to undeveloped lots in a subdivision in San Marcos, California February 29, 2012. As the greatest real estate fire sale in the history of the United States rages on, the bulk buy is the hottest of the hot deals. In some of the most foreclosure-ravaged parts of the country, it's almost as if the housing market has become the new big box store and investors are wiping out the whole shelf.

We find that while GDP per capita has outpaced the median in most OECD countries, the US is a clear outlier in the extent of that divergence. Image: REUTERS/Mike Blake

Brian Nolan
Professor of Social Policy and Director of Employment, Equity, and Growth Programme, Institute for New Economic Thinking
Max Roser
Programme Director, Oxford Martin School, University of Oxford
Stefan Thewissen
Postdoctoral research fellow, University of Oxford
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Economic Progress

  Comparing the evolution in GDP per capita to median household income
Image: VoxEU
  Decomposing the divergence between median household income and GDP per capita for the US
Image: VoxEU
  Decomposing the divergence between GDP per capita and median household income across 27 countries
Image: VoxEU
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Economic ProgressFinancial and Monetary Systems
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