, 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 … resulting from individual residential decisions can be quite inefficient, both from the point of view of aggregate growth and in …

inequality is permanent, the increase in growth appears to be permanent. However, our estimates imply that it would take 13 years …Pooling data for 1905 to 2000, we find no systematic relationship between top income shares and economic growth in a … top decile’s income share is associated with a statistically significant 0.12 point rise in GDP growth during the …

distribution and growth, as well as the relevant empirical evidence. The first model integrates the political-economy and imperfect … capital markets theories. It allows for departures from perfect democracy and embodies the trade-off between the growth costs … savings incentives and ameliorate the wealth constraints that impede investment by the poor. The second model is a growth …

growth. The analysis demonstrates that the interplay between technological progress and two components that determine … growth. In periods of major technological inventions the ability effect is the dominating factor. The decline in the relative … importance of initial parental conditions (i.e. the driving force behind the persistence of inequality) enhances mobility and …

for missing credit and insurance markets. The resulting tradeoffs for growth and efficiency are explored, both … to higher income growth than taxes and transfers, but at the cost of lower insurance. Overall efficiency is assessed …

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

This paper studies the impact of income inequality on fiscal conservatism when an increase in inequality affects the …, inequality will then be associated with less, rather than more, redistributive taxation. Furthermore, if the poor are liquidity … constrained then the positive association between inequality and fiscal conservatism will increase the persistence in the dynamics …

This paper reviews key recent literature on the effects of trade liberalisation on poverty in developing countries and … income and thus reduces poverty has not changed; some suggest that this is not true for very poor countries, but this is not … inequality is increased by trade, but this does not generally indicate that the poor actually lose. A fairly common finding is …

Technology,’ and yet its contribution to growth is far from transparent. This Paper examines the role that a particular … innovative design in steam power, the Corliss engine, played in the intertwined processes of industrialization and urbanization … that characterized the growth of the US economy in the late 19th century. Waterpower offered abundant and cheap energy, but …

to enhance institutional quality thereby promoting growth. The politically powerful coalition contemplates relinquishing …, and slow growth; and a more equal distribution of political and economic resources, high-quality institutions, and faster … growth. …