The corporate sector has turned from a net borrowing position to a net lending position in many advanced countries over the past decades. This phenomenon is rather unusual as the corporate sector had historically borrowed funds from other sectors in the economy. In this paper, we analyze how...

This paper investigates cross-sectoral productivity differentials in South African industry and their distributional consequences. The analysis shows that typically, traded sectors have experienced low productivity growth over the past decade, while skill intensive service sectors have had...

Since globalisation accelerated in the early 1990s, income inequality has increased in most developed countries and in some middle-income countries, including China and India. Also, inequality has declined in most countries of Latin America and the Caribbean and in many Sub-Saharan African and...

This paper describes the patterns of worker turnover in selected Latin American countries and their implications for wage inequality. It documents a higher positive annual wage growth rate for job to job changers compared to stayers, due to turnover capturing the immediate gains from search...

The objective of the present article is to analyse the elements proposed by Celso Furtado regarding the process of overcoming underdevelopment - before and after "industrial civilization" - and to determine whether such attributes can characterize him as a neo(post)-Kaleckian. To accomplish this...

This paper expands Baranzini's (1991) approach by introducing the assumption of an open economy to a model of capital accumulation in an intergenerational framework. Our results show the importance of government activity and foreign trade interrelations in determining the path of the income...

This paper is part of a dialogue with Blair Fix on how inflation redistributes income between creditors and workers and the way in which monetary policy affects this process. In his 2023 paper, 'Inflation! The Battle Between Creditors and Workers', Fix shows, first, that the impact of U.S....