This paper surveys the literature on the relationship between international trade and inclusive growth. It examines claims that the rise in inequality in many countries can be attributed to the concurrent rise in trade competition, especially from EMEs like China, spurring trade tensions and...

International migration is an important channel of material improvement for individuals and their offspring. The movement of people across country borders, especially from less developed to richer countries, has a substantial impact in several dimensions. First, it affects the migrants...

The paper studies how high leverage and crises can arise as a result of changes in the income distribution. Empirically, the periods 1920-1929 and 1983-2008 both exhibited a large increase in the income share of the rich, a large increase in leverage for the remainder, and an eventual financial...

Während in Deutschland seit Beginn der vergangenen Dekade der Lohnanstieg deutlich hinter dem Anstieg der Wirtschaftsleistung zurückgeblieben ist, konnten die Vermögenseinkommen und die Selbständigeneinkünfte zulegen - mit der Folge einer wachsenden Ungleichverteilung der Einkommen. Das...

In Deutschland sind die Einkommen vor Steuern und Transfers ungleichmäßiger verteilt als in der OECD im Durchschnitt. Erst durch die staatliche Umverteilung stellt sich die Verteilungssituation besser dar. Marcel Fratzscher hält dies für ein Armutszeugnis für die soziale Marktwirtschaft,...

We study the effects and historical contribution of monetary policy shocks to consumption and income inequality in the United States since 1980. Contractionary monetary policy actions systematically increase inequality in labor earnings, total income, consumption and total expenditures....

This paper provides evidence on the link between financial development and income distribution. Several dimensions of financial development are considered: financial access, efficiency, stability, and liberalization. Each aspect is represented by two indicators: one related to financial...