The rise in inflation since mid-2021 to multi-decade highs presents a worrying trend for households’ financial health, particularly if nominal incomes, or non-inflation adjusted income, of financially vulnerable families lag behind prices. Policymakers have noted that lower income households...

Lucas and Stokey (1983) motivated future governments to confirm an optimal tax plan by rescheduling government debt appropriately. Debortoli et al. (2021) showed that sometimes that does not work. We show how a Ramsey plan can always be implemented by adding instantaneous debt to Lucas and...

Fiat money requires no backing to be accepted at a uniquely determined positive value. I show this using an equilibrium model with realistic frictions and rational households allowed to freely interact in a competitive environment. The model portrays a modern 'cashless' economy relying on...

How much do consumption patterns matter for the impact of international trade on inequality? In neoclassical trade models, the effects of trade shocks on consumers' purchasing power are governed by the shares of imports in consumer expenditures, under no parametric assumptions on preferences and...

Chapter 1. Introduction -- Chapter 2. Propaganda Versus Economics: Constructing a Myth -- Chapter 3. Buying Power Not Protest: The Myth Prevents Unrest -- Chapter 4.The Myth’s “BIG THREE” Modern Purveyors: Reviewing Selig, Nielsen, McKinsey & Co -- Chapter 5. The Myth at. Play: A Most...

In this paper, we argue that past computations of the equity risk premium did not properly account for the financial implications of political collapse on property, civil and human rights. Accordingly, we argue past calculations overstated the equity risk premium. In their stead, we argue a...

Die Kaufkraft der Lohnminute hat sich gegenüber 1960 mehr als verdreifacht. Dies bedeutet, dass ein Warenkorb, für den man damals noch eine Stunde arbeiten musste, heute bereits in 19 Minuten verdient ist. Ein wichtiger Treiber dieses Kaufkraftgewinns ist der technische Fortschritt, der...

Nicht alle Regionen sind in Deutschland gleichermaßen von Einkommensarmut betroffen. Um die besonders armutsgefährdeten Gebiete zu identifizieren, ist es wichtig, regionale Preisunterschiede zu berücksichtigen. Mit dem Maßstab der so ermittelten Kaufkraftarmut bewertet, treten die größeren...

This paper looks at reform proposals for the fiscal transfer system in Germany to take account of differences in governmental purchasing powers across states, i.e. differences in governmental costs of public goods and services. Since data on differences in governmental purchasing power is...

Chapter 1. Propaganda v. Economics: Constructing a Myth -- Chapter 2. Buying Power Not Protest: The Myth Presents Unrest -- Chapter 3. The Myth’s Modern Purveyors: Reviewing Selig and Nielsen -- Chapter 4. The Myth at Play: The Oh So Suitable Environment -- Chapter 5. Freedom Was the Call but...

The paper makes an analysis of socio-economic factors that influence food consumption levels in terms of income evolution at regional level and also a comparison with EU average and several regions from Poland; it also presents the dispersion of regional GDP per inhabitant and its influence on...

The value of a dollar, 1860-2019 (table) -- 1860-1899: The age of endeavor -- 1900-1919: The progressive era and World War I -- 1920-1939: Return to "normalcy," the Great Depression, and recovery -- 1940-1959: World War II, recovery, and the Cold War -- 1960-1979: The Vietnam War and the global...

This paper looks at a reform proposal for the fiscal transfer system in Germany to take account of differences in governmental purchasing powers across states. Since data on differences in governmental purchasing power is missing for the states, differences in intergovernmental purchasing power...

Die Teilnehmerländer der europäischen Währungsunion verfügen über höchst unterschiedliche Regime der Lohnfindung. Diese Unterschiedlichkeit leistete einen eigenständigen Beitrag zur Auseinanderentwicklung der mitgliedsstaatlichen Lohn- und Preisniveaus und damit zu den realen...

We show theoretically that the poor can benefit from price changes induced by higher income inequality. As the number of poor in a society increases, or when the income difference between rich and poor increases, the market for products aimed towards the poor grows and such products become more...

This paper presents the results of a comprehensive literature review of the organization of purchasing covering the period from 1967 to 2009. The review provides a structured overview of prior research topics and findings and identifies gaps in the existing literature that may be addressed in...

The ageing process of populations due to demographic change affects the economy in various ways. The study at hand focuses on the reallocation of income and changes in consumption expenses caused by demographic change. Local disparities on NUTS 3 level are of special interest as the demographic...

We show theoretically that the poor can benefit from price changes induced by higher income inequality. As the number of poor in a society increases, or when the income difference between rich and poor increases, the market for products aimed towards the poor grows and such products become more...

The authors propose that power distance belief (PDB) (i.e., accepting and expecting power disparity) influences impulsive buying beyond other related cultural dimensions, such as individualism – collectivism. This research supports an associative account that links PDB and impulsive buying as...