New estimates for inequality of opportunity in Europe using elastic net algorithms

This paper provides new estimates for inequality of opportunity (IOp) in Europe between 2005 and 2019, using data from EU-SILC and elastic net algorithms. We document three different trends: some countries showed significant improvement over time; others saw a notable increase in IOp; and yet others reversed the rise in inequality post-Great Recession. Importantly, our new machine-learning estimates show consistency with more established approaches.