How much does inequality in life depend on conditions established at age 18? What role does post-18 higher education play? I use an education choice model with exogenous conditions from family wealth, established human capital at age 18 and shocks to human capital to examine these questions....

The Keynesian approach claims that a reduction in average taxes and/or an increase in autonomous government expenditures will stimulate growth in the economy through multiplier effects. The supply side economics, however, considers mainly the necessary cut in effective economy-wide marginal tax...

Recent Post-Keynesian proposals for an economic policy to overcome stagnation and mass unemployment also stress the necessity of incomes policy without precisely specifying the role of such a policy. Starting from the theories of distribution by Kalecki and Kaldor this paper therefore tries to...

This paper considers the problem why minimal and average earnings differ dramatically in rich and new EU countries, as well as in Ukraine. Such phenomenon is usually explained by the difference among levels of labour productivity but the modern globalization processes have been doing the...

This study investigates how the income redistribution policy affects economic growth, employment, income distribution, income inequality, and asset inequality. The income redistribution policy is defined as one that imposes capital taxation on capitalists and redistributes it to workers....

This note surveys the recent literature on wage inequality between and across enterprises. Implications for policies such as the minimum wage, collective bargaining, and other wage setting institutions are discussed.

An original panel dataset of exogenous fiscal shocks for some Mediterranean countries is used along with the so-called "narrative" approach introduced by Romer and Romer (2010) to estimate the tax multiplier. Exogenous shocks comprise only tax changes motivated by the willingness to improve long...

In an economy which could not accommodate full employment of its labor force, it employs some but does not employ others. The bipartition of the labor force is random, and we characterize it by a probability distribution with equal employment opportunity. We value each employed individual by his...