In this paper, I estimate the global effects of hypothetical 1% changes in US sectoral productivity. To do that, I formulate a multi-sector Armington trade model with import tariffs, trade in intermediate goods, sectoral heterogeneity, and input-output linkages. Because a closed form for changes...

Income inequality in many countries has risen recently. Using aggregate data of 22 countries, this paper provides a new evidence about the factor which might contribute to the rise in income inequality. The main finding is that the lack of competition, which is measured as the rise in markup,...

Using data for 20 countries during 1975–2011, this study provides new evidence on the association between the lack of competition, measured by an increase in markups, and income inequality. We find that an increase in markups is positively associated with rising income inequality. More...

We propose the following policy recommendations. First, all our results support the important role played by domestic demand. Both rising inequality and aging population affect Korea's GDP primarily through the private domestic demand channel. In the beginning of the implementation of Chin's...

The main contributions of this monograph are to quantitatively analyze the effects of aging population, rising income inequality, China's 13th Five-Year Plan, and Brexit. To do that, we use the Oxford Economics Global Model Workstation and the model developed by Eaton, Kortum, Neiman, and...