, year-to-year change of earnings multiple P/E tends to anticorrelate with profits cycle. It shows sluggishness of market … trend. It is presence of phase of earnings accumulation. Such accumulation is possible only during periods of significant … outstripping of earnings growth over the market growth. Now there is no phase of earnings accumulation, because market returned to …

firm size and earnings. To establish that such a question is of interest we need to show that the firm size-wage effect …

aggregate relations. This paper establishes a bridge between the aggregation and the inequality and growth literature by …, implying that increases in income inequality may be unambiguously associated with temporary increases in a country’s growth …-run effects of income inequality may suffer from aggregation bias if the temporary effects of the MLD changes are not considered …

penetration. Keywords: cross-section models, income distribution, inequality, international economic order, economic welfare …

The effect of initial income inequality on growth is the subject of a large literature. We show, both analytically and … with simulation experiments, that the same level of initial income inequality can be associated with very different income … developments, depending on the source of the inequality. We consider three sources: differences in asset ownership, in productivity …

This article uses data from the 1998 European Union Household Panel to study economic inequality in Spain. It reports … data on the Spanish distributions of income, labor income, and capital income, and on related features of inequality, such … Spanish households. We find that income, earnings, and, very especially, capital income are very unequally in Spain. …