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Financial Development and Inequality in the Global Economy

von Ehrlich, Maximilian - 2016

We build a heterogeneous-firms model with firm-specific wages and credit frictions to study the role of financial development for inequality in the global economy. If there are many small firms, better access to external funds reduces wage inequality and unemployment. In contrast, if there are...

Persistent link: https://www.econbiz.de/10012996265

Natural Resource Endowment : A Mixed Blessing?

Gylfason, Thorvaldur - 2011

that arise along the way. Special attention is given to Norway, the world's third largest oil exporter, and the role of …

Persistent link: https://www.econbiz.de/10013129862

Does Pension Privatization Increase Economic Growth? Evidence from Latin America and Eastern Europe

Altiparmakov, Nikola - 2016

Analyses of pension funding effects on economic growth need to differentiate between ‘carve-out' pension privatization … evidence that pension privatization in Latin America and Eastern Europe was associated with higher economic growth. The result … particularly unlikely in countries resorting to debt-financed privatization. Furthermore, we note the lack of positive pension …

Persistent link: https://www.econbiz.de/10012980582

Factor Income Distribution and Endogenous Economic Growth - When Piketty Meets Romer

Irmen, Andreas - 2017

We scrutinize Thomas Piketty's (2014) theory concerning the relationship between an economy's long-run growth rate, its capital-income ratio, and its factor income distribution put forth in his recent book Capital in the Twenty-First Century. We find that a smaller long-run growth rate may be...

Persistent link: https://www.econbiz.de/10012965706

Can there Be a Wave-Like Association between Economic Growth and Inequality? Theory and Lessons for East Asia from the Middle East

Gangopadhyay, Partha - 2012

High income growth in many countries in East Asia and the Middle East has been accompanied by increasing income inequality and widening gaps between rich and poor, and urban and rural. It is therefore it is important to examine the interrelationships between inequality and economic growth. This...

Persistent link: https://www.econbiz.de/10013099565

Structural Reforms, Growth and Inequality : An Overview of Theory, Measurement and Evidence

Campos, Nauro - 2018

This paper provides a critical overview of the state of the art in the economics literature on structural reforms. It takes stock of theoretical developments, measurement efforts and of the econometric evidence. We start with a simple theoretical framework for the relationship between structural...

Persistent link: https://www.econbiz.de/10012927189

Growth of Income and Welfare in the U.S. 1979-2011

Komlos, John - 2016

We estimate growth rates of real incomes in the U.S. by quintiles using the Congressional Budget Office's (CBO) post-tax, post-transfer data as basis for the period 1979-2011. We improve upon them by including only the present value of earnings that will accrue in retirement and excluding items...

Persistent link: https://www.econbiz.de/10012991937

Political Institutions and Income (Re-)Distribution : Evidence from Developed Economies

Feld, Lars P.; Schnellenbach, Jan - 2021

We discuss the effect of formal political institutions (electoral systems, fiscal decentralization, presidential and parliamentary regimes) on the extent and direction of income (re-)distribution. Empirical evidence is presented for a large sample of 70 economies and a panel of 13 OECD countries...

Persistent link: https://www.econbiz.de/10013315720

Discounting, Inequalities and Economic Convergence

Gollier, Christian - 2013

The aim of this paper is to examine the impact of inequalities and economic convergence on the efficient discount rate, in the absence of any risk-sharing scheme. We consider an economy in which the initial consumption level and the distribution of consumption growth are heterogeneous. The...

Persistent link: https://www.econbiz.de/10013094078

Does Public Education Expansion Lead to Trickle-Down Growth?

Böhm, Sebastian - 2014

The paper revisits the debate on trickle-down growth in view of the widely discussed evolution of the earnings and income distribution that followed a massive public expansion of higher education. We propose a dynamic general equilibrium model to dynamically evaluate whether economic growth...

Persistent link: https://www.econbiz.de/10013044596