Technical change in key OECD countries since 1990 is examined in terms of its contributions to total factor productivity and to factor bias. The dependence of real income and inequality on changes in factor abundance, total factor productivity, factor bias, the relative cost of capital goods and...

In this article, we link the realized accuracy of predictive panels to changes in distributions that occur between the training (in-sample) phase and the testing (out-of-sample) phase. We obtain polynomial upper bounds for the loss of accuracy between training and testing. We model covariate...

This paper derives a finite-sample oracle inequality for a class of misspecified multivariate conditional autoregressive quantile forecasts. This inequality is used to establish that the M-estimator of a multivariate version of the conditional autoregressive Value-at-Risk model (CAViaR) achieves...

This paper investigates the dynamic effects of tax changes on the cross-sectional distribution of disposable income in the United States using a narrative identification approach. I distinguish between changes in personal and corporate income taxes and quantify the distributional effects on...

Inclusive growth should ensure "broad-based" economic growth which characterizes the pattern of growth. Beyond simple association identification implied by the Kuznets curve and cross-country panel regression analyses, this study attempts to shed light on the dynamic causality relationship and...

The role of climate change on economic performance and output has been studied extensively in the empirical literature, however, its distributional effects have received little attention. This paper attempts to fill this gap by investigating whether climate shocks affect income inequality in a...

This paper aims at providing new evidence over the effect of conventional monetary policy shocks on wage inequality through the earnings heterogeneity channel under the inflationtargeting regime implemented in South Africa since 2000. The empirical contribution follows previous studies by...

We propose a method to decompose changes in the tax structure into a component measuring the level of taxes and a component orthogonal to the level that measures progressivity. While our focus is on the progessivity results, we find that the level shock is similar to standard tax shocks found in...