This paper evaluates the proposal that government authorities ought to target nominal income. It begins by viewing the … large country. There is then a general discussion of various issues posed by nominal income targeting. Finally, the paper … favor of nominal income targeting. When more realistic assumptions are made or econometric simulations are undertaken the …

We revisit Lipset‘s law, which posits a positive and significant relationship between income and democracy. Using … dynamic and heterogeneous panel data estimation techniques, we find a significant and negative relationship between income and … democracy: higher/lower incomes per capita hinder/trigger democratization. Decomposing overall income per capita into its …

€˜buffer stock’ model of optimal consumption in the presence of labor income uncertainty and credit constraints. Saving in the model …

productivity growth would allow Bulgaria to close the income gap with the EU average more quickly and to alleviate the structural … percentage point a year. This would be enough to close the income gap with the EU average by 2040, compared to the status quo …

simple metric that quantifies the associated income windfall. We also document saving patterns during these episodes and … propose a measure of how much of the income windfall was saved. We find that Latin America‘s terms-of-trade shocks of the last … post-boom income, the composition of such savings matters. Specifically, in past episodes, savings allocated to foreign …

This paper develops a framework for the quantitative analysis of individual income dynamics, mobility and welfare …. Individual income is assumed to follow a stochastic process with two (unobserved) components, an i.i.d. component representing … measurement error or transitory income shocks and an AR(1) component representing persistent changes in income. We use a tractable …

income. We use household-level data to explain the postponing of consumption despite rapid income growth. Tracing cohorts … expenditures on housing, education, and health care. …

This paper focuses on the sluggish growth of world trade relative to income growth in recent years. The analysis uses … cyclical. An estimate of the relationship between trade and income in the past four decades reveals that the long-term trade …

This paper examines the dynamic relationship between trade and income. While most economists agree that increased trade … leads to an increase in average income, economic theory is ambiguous about the possible effects on the long-run growth rate … of the economy. Using a dynamic panel data model, the hypotheses of no long-run effects of trade on income and on income …