States in terms of unemployment, productivity growth and wage inequality. To show this, we construct two fictitious economies …. In the laissez-faire economy (United States), unemployment remains constant, but wage inequality increases more and …

of reform brings about sizable output gains and a non-trivial increase in after-tax income inequality. But we also find …

rise in income inequality. Poverty has increased sharply with an estimated 18.5% of the population on incomes below the …

, which provides an integrated framework for analysing the local determinants of inequality and growth. Five main conclusions … inequality in education and income more persistent across generations. Whether the same is true of inequality in total wealth … policy to improve both equity and efficiency. Fifth, because of the cumulative nature of the stratification process, it is …

efficient allocation of resources. Besides these effects on allocative efficiency, migrant flows affect relative wages and also …

can have a positive effect on output, growth, or more generally ex-ante welfare. Aggregate efficiency gains, in turn … redistributions decreases with the degree of inequality, at least over some range. Moreover, capital market imperfections make future … high inequality and low redistribution, or vice versa. Temporary shocks to the distribution of income or the political …

This paper surveys major empirical regularities concerning changes in earnings inequality in Europe and the US over the … possible rationale for recent inequality developments. …