Showing 1 - 10 of 15
This Paper studies how the HP-Filter should be adjusted, when changing the frequency of observations. It complements the results of Baxter and King (1999) with an analytical analysis, demonstrating that the filter parameter should be adjusted by multiplying it with the fourth power of the...
Persistent link: https://www.econbiz.de/10005067569
Political risk is widely present in developing but also in developed countries, and stems from a variety of sources. The objective of this paper is twofold. First, we develop a theoretical model to investigate the impact of political risk on irreversible investment. Second, we apply our model to...
Persistent link: https://www.econbiz.de/10005114366
, related phenomenon: the dramatic reversal in distributional trends – from a steep secular fall to a steep secular rise in wage …
Persistent link: https://www.econbiz.de/10005123980
This paper analyses how political institutions, wealth distribution and economic activities affect each other during … played by the initial distribution of wealth in determining the long-run pattern of political participation and economic …
Persistent link: https://www.econbiz.de/10005124016
size distributions of cities and countries are similar. But theories that explain the size-distribution of cities do not … obviously apply in explaining the size-distribution of countries. The similarity of city- and country-size distributions is an …
Persistent link: https://www.econbiz.de/10005497861
Wealthy individuals often voluntarily provide public goods that the poor also consume. Such philanthropy is perceived as legitimizing one’s wealth. Governments routinely exempt the rich from taxation on grounds of their charitable expenditure. We examine the normative logic of this exemption....
Persistent link: https://www.econbiz.de/10005504401
Efficient measures are often not implemented because of their potentially damaging effects on distribution, yet these … when we can separate the effect on efficiency from the effect on distribution, that is when Gorman aggregation applies, the … well-known result that aggregate effects can be computed independently of the distribution can be accompanied by a similar …
Persistent link: https://www.econbiz.de/10005504425
There have been important studies of overall income inequality and of poverty in South Africa. In this paper, we approach the subject from a different direction: the extent and evolution of top incomes. We present estimates of the shares in total income of groups such as the top 1 per cent and...
Persistent link: https://www.econbiz.de/10008784719
the dramatic reversal in distributional trends – from a steep secular fall in wage-land rent ratios before 1800 to a steep …
Persistent link: https://www.econbiz.de/10005114196
-of-tax rate of return on wealth and g is the economy's growth rate. This suggests that current trends toward rising wealth …
Persistent link: https://www.econbiz.de/10011083954