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The Supermodular Stochastic Ordering
Meyer, Margaret A; Strulovici, Bruno - C.E.P.R. Discussion Papers - 2013
In many economic applications involving comparisons of multivariate distributions, supermodularity of an objective function is a natural property for capturing a preference for greater interdependence. One multivariate distribution dominates another according to the `supermodular stochastic...
Persistent link: https://www.econbiz.de/10011083601
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Commodity and Equity Markets: Some Stylized Facts from a Copula Approach
Delatte, Anne-Laure; Lopez, Claude - C.E.P.R. Discussion Papers - 2013
In this paper, we propose to identify the dependence structure existing between the returns of equity and commodity futures and its evolution through the past 20 years. The key point is that we do not do not impose the dependence structure but let the data select it. To do so, we model the...
Persistent link: https://www.econbiz.de/10011084009
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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 … lower inequality not between individuals but between the dynasties to which they belong? And how does this pattern in turn …
Persistent link: https://www.econbiz.de/10011252615
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Forbidden Fruits: The Political Economy of Science, Religion, and Growth
Bénabou, Roland; Ticchi, Davide; Vindigni, Andrea - C.E.P.R. Discussion Papers - 2015
or societal laws benefiting religious citizens. Rising income inequality can, however, lead some of the rich to form a …
Persistent link: https://www.econbiz.de/10011262883
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Race v. Suffrage: The Determinants of Development in Mississippi
Bertocchi, Graziella; Dimico, Arcangelo - C.E.P.R. Discussion Papers - 2011
We investigate the long term determinants of political and economic outcomes over a new data set composed of Mississippi counties. We analyze the effect of disfranchisement on voting registration at the end of the nineteenth century (1896-9), as well as the impact of voting registration on...
Persistent link: https://www.econbiz.de/10009321839
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The Evolution of the Racial Gap in Education and the Legacy of Slavery
Bertocchi, Graziella; Dimico, Arcangelo - C.E.P.R. Discussion Papers - 2011
We study the evolution of racial educational inequality across US states from 1940 to 2000. We show that throughout …
Persistent link: https://www.econbiz.de/10009399722
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On Income Inequality and Green Preferences
Marsiliani, Laura; Renström, Thomas I - C.E.P.R. Discussion Papers - 2003
inequality and environmental protection. We present a class of models (which captures a static model as well as an overlapping …
Persistent link: https://www.econbiz.de/10005662063
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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
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Social Mobility and the Demand for Redistribution: the POUM Hypothesis
Bénabou, Roland; Ok, Efe A - C.E.P.R. Discussion Papers - 1998
Even relatively poor people oppose high rates of redistribution because of the anticipation that they, or their children, may move up the income ladder. This ‘Prospect of Upward Mobility’ (POUM) hypothesis is commonly advanced to explain why democracies do not engage in large-scale...
Persistent link: https://www.econbiz.de/10005662178
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Inequality and the Political Economy of Eurosclerosis
Krugman, Paul - C.E.P.R. Discussion Papers - 1993
because European nations were in effect trying to fight market tendencies towards increased inequality. In the United States …, with its much more limited welfare state, there has been a striking rise in inequality; a stylized model suggests that the …
Persistent link: https://www.econbiz.de/10005662317