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A controversial new financing phenomenon has recently emerged. New “income share agreements” (“ISAs”) enable an individual to raise funds by pledging a percentage of her future earnings to investors for a certain number of years. These contracts, which have been offered by entities such...
Persistent link: https://www.econbiz.de/10013033194
This paper examines the relationship between trade (exports), growth, and inequality, using a panel of 100 countries … of trade (exports) on growth. The findings are that in general trade openness advances growth while inequality reduces … growth. However, when we identify an inequality threshold, we find that inequality is positively associated with growth if …
Persistent link: https://www.econbiz.de/10010465444
The central objective of our paper is to empirically examine the relationship between financial development and income inequality. Theoretically, there are grounds for both a positive and negative relationship between the two variables. Our main finding is that financial development contributes...
Persistent link: https://www.econbiz.de/10011305273
The effects of inequality on economic growth depend on several factors. On one hand, they depend on the time horizon … considered, on the initial level of income and on its initial distribution. But, on the other hand, as growth and inequality are … rates, this work analyzes how increasing inequality and increasing agglomeration influence economic growth depending on the …
Persistent link: https://www.econbiz.de/10011515023
theory involving capital and labour without neo-classical assumptions. Interestingly the growth story of the model seems to … be observationally equivalent to the Solow (1956) model of steady state growth. It can easily and effectively reflect on … across the globe independent of trade patterns. It is likely to increase growth rate but that rate declines over time …
Persistent link: https://www.econbiz.de/10012312232
Combining consensus forecasts of growth of population and real incomes during 2014-35 with household income surveys for … 2013, and we project that it will decline further to 61 in 2035, largely owing to rapid economic growth in the emerging … projected GDP growth. …
Persistent link: https://www.econbiz.de/10010514442
How unequal is the world today? Is global income inequality falling, as many economists claim, or is it rising, as one often hears? This paper reviews the arguments and evidence. A number of concerns about the underlying data are identified, with biases going in both directions. Conceptual...
Persistent link: https://www.econbiz.de/10011938091
Estimates of the effect of education on GDP (the social return) have been hard to reconcile with micro evidence on the private return to schooling. We present a simple explanation combining two ideas: imperfect substitution and endogenous skill-biased technological progress and use cross-country...
Persistent link: https://www.econbiz.de/10011325967
and mobility decisions, population growth, and income disparities across and within countries. First, our static …
Persistent link: https://www.econbiz.de/10011910583
We examine how trade openness influences income inequality within countries. The sample includes 139 countries over the period 1970-2014. We employ predicted openness as instrument to deal with the endogeneity of trade openness. The effect of trade openness on income inequality differs across...
Persistent link: https://www.econbiz.de/10013218286