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Education, Income Distribution, and Growth: The Local Connection
Bénabou, Roland - C.E.P.R. Discussion Papers - 1994
stratification. Imperfect capital markets are not necessary, but will compound these other sources. Second, stratification makes … to reduce stratification, it may improve educational achievement in poor communities much less than it lowers it in … policy to improve both equity and efficiency. Fifth, because of the cumulative nature of the stratification process, it is …
Persistent link: https://www.econbiz.de/10005661649
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Learning to Take Risks? The Effect of Education on Risk-Taking in Financial Markets
Black, Sandra; Devereux, Paul J.; Lundborg, Petter; … - C.E.P.R. Discussion Papers - 2015
We investigate whether acquiring more education when young has long-term effects on risk-taking behavior in financial markets and whether the effects spill over to spouses and children. There is substantial evidence that more educated people are more likely to invest in the stock market....
Persistent link: https://www.econbiz.de/10011249373
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Dynastic Inequality, Mobility and Equality of Opportunity
Kanbur, Ravi; Stiglitz, Joseph E - C.E.P.R. Discussion Papers - 2015
One often heard counter to the concern on rising income and wealth inequality is that it is wrong to focus on inequality of outcomes in a “snapshot.” Intergenerational mobility and “equality of opportunity”, so the argument goes, is what matters for normative evaluation. In response to...
Persistent link: https://www.econbiz.de/10011252615
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A Model of the Consumption Response to Fiscal Stimulus Payments
Kaplan, Greg; Violante, Giovanni L - C.E.P.R. Discussion Papers - 2011
A wide body of empirical evidence, based on randomized experiments, finds that 20-40 percent of fiscal stimulus payments (e.g. tax rebates) are spent on non-durable household consumption in the quarter that they are received. We develop a structural economic model to interpret this evidence. Our...
Persistent link: https://www.econbiz.de/10009293985
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Income inequality, decentralisation and regional development in Western Europe
Pike, Andy J; Rodriguez-Pose, Andres; Tomaney, John; … - C.E.P.R. Discussion Papers - 2011
This paper deals with the relationship between decentralisation, regional economic development, and income inequality within regions. Using multiplicative interaction models and regionally aggregated microeconomic data for more than 100,000 individuals in the European Union (EU), it addresses...
Persistent link: https://www.econbiz.de/10009322504
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The wrong shape of insurance? What cross-sectional distributions tell us about models of consumption-smoothing
Broer, Tobias - C.E.P.R. Discussion Papers - 2011
This paper shows how two standard models of consumption risk-sharing - self-insurance through borrowing and saving and limited commitment to insurance contracts - replicate similarly well the standard, second-moment measures of insurance observed in US micro-data. A non-parametric analysis,...
Persistent link: https://www.econbiz.de/10009385760
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Baby Booming Inequality? Demographic Change and Earnings Inequality in Norway, 1967-2000
Almas, Ingvild; Havnes, Tarjei; Mogstad, Magne - C.E.P.R. Discussion Papers - 2011
In this paper, we demonstrate how age-adjusted inequality measures can be used to evaluate whether changes in inequality over time are due to changes in the age-structure. To this end, we use administrative data on earnings for every male Norwegian over the period 1967-2000. We find that the...
Persistent link: https://www.econbiz.de/10009493554
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Income Distribution and Housing Prices: An Assignment Model Approach
Määttänen, Niku; Terviö, Marko - C.E.P.R. Discussion Papers - 2010
We present a framework for studying the relation between the distribution of income and the distribution of housing prices that is based on an assignment model of households with heterogeneous incomes and houses of heterogeneous quality. The equilibrium distribution of prices depends on both...
Persistent link: https://www.econbiz.de/10008466339
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Two Views of Inequality Over the Life-Cycle
Heathcote, Jonathan; Storesletten, Kjetil; Violante, … - C.E.P.R. Discussion Papers - 2004
Data on the life-cycle profiles of inequality in wages, earnings, hours worked and consumption contains precious information for answering questions about the ability of households to insure labor market risk and about the sources of this risk. This Paper demonstrates that the choice of whether...
Persistent link: https://www.econbiz.de/10005662083
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Flat Tax Reforms in the US: A Boon for the Income Poor
Díaz-Giménez, Javier; Pijoan-Mas, Josep - C.E.P.R. Discussion Papers - 2006
In this article we quantify the aggregate, distributional and welfare consequences of two revenue neutral flat-tax reforms using a model economy that replicates the U.S. distributions of earnings, income and wealth in very much detail. We find that the less progressive reform brings about a 2.4%...
Persistent link: https://www.econbiz.de/10005662104