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Debt-Constraints or Incomplete Markets? A Decomposition of the Wealth and Consumption Inequality in the U.S.
Cordoba, Juan-Carlos - EconWPA - 2004
The large wealth and consumption inequality in the U.S. is usually attributed to two market frictions: debt constraints and incomplete markets. Recent literature has argued that debt constraints are the critical friction while market incompleteness plays only a secondary role. We evaluate the...
Persistent link: https://www.econbiz.de/10005412632
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Inequality over the Business Cycle: Estimating Income Risk using Micro-Data on Consumption
Primiceri, Giorgio; Rens, Thijs van - EconWPA - 2002
We use CEX repeated cross-section data on consumption and income, to evaluate the nature of increased income inequality in the 1980s and 90s. We decompose unexpected changes in family income into transitory and permanent, and idiosyncratic and aggregate components, and estimate the contribution...
Persistent link: https://www.econbiz.de/10005126150
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Whose Inflation? A Characterization of the CPI Plutocratic Gap
Ley, Eduardo - EconWPA - 2001
Prais (1958) showed that the standard CPI computed by most statistical agencies can be interpreted as a weighted average of household price indexes, where the weight of each household is determined by its total expenditures. In this paper, we analytically decompose the difference between the...
Persistent link: https://www.econbiz.de/10005125974
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The Impact of Inflation on Income Tax and Social Insurance Contributions in Europe
Immervoll, Herwig - EconWPA - 2003
Inflation can alter the characteristics of tax- and contribution systems in numerous ways. This paper demonstrates how … inflation alters the distributive properties of nominally defined tax systems and looks at the impact of the tax revenues and … comparisons of the distributive consequences of the inflation induced erosion of tax- band limits, thresholds, deductions, tax …
Persistent link: https://www.econbiz.de/10005560980
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The evolution of income inequality in the European Union
Alvarez-Garcia, Santiago; Prieto-Rodriguez, Juan; … - EconWPA - 2003
The objective of this work is to analyse the income inequality in the 15 EU countries during the convergence process to the Monetary Union. Using the information contained in the European Community Household Panel, corresponding to the four first waves. Using the inverse second order stochastic...
Persistent link: https://www.econbiz.de/10005076592
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The median voter hypothesis, income inequality and income
Milanovic, Branko - EconWPA - 2003
The median voter hypothesis has been central to an extensive literature on consequences of income distribution. For example, it has been proposed that greater inequality is associated with lower growth, because of the greater redistribution that is sought by the median voter when income...
Persistent link: https://www.econbiz.de/10005076939
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Is Islam really a development blockade? 12 predictors of development, including membership in the Organization of Islamic Conference, and their influence on 14 indicators of develo...
TAUSCH, Arno - EconWPA - 2005
With all the talk in Europe about “Islam” and “Muslim culture” it is surprising how little hard-core empirical evidence exists on the compatibility of “Muslim culture” with positive patterns of political, social, and ecological development in the world system in the 1980s, 1990s, and...
Persistent link: https://www.econbiz.de/10005125619
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Mâori Incomes:Investigating Differences Between Iwi
Sin, Isabelle; Maré, David C - EconWPA - 2005
This paper investigates several factors that may be important for improving Mâori outcomes, and the extent to which their importance varies by iwi. Specifically, it examines the extent to which controlling for differences in characteristics of the European population and the populations of...
Persistent link: https://www.econbiz.de/10005125712
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Transitional Dynamics and the Distribution of Assets
Obiols-Homs, Francesc; Urrutia, Carlos - EconWPA - 2004
We study the evolution of the distribution of assets in a discrete time, de-terministic growth model with log-utility, a minimum consumption require-ment, Cobb-Douglas technology, and agents differing in initial assets. We prove that the coefficient of variation in assets across agents decreases...
Persistent link: https://www.econbiz.de/10005126365
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Changing Pattern of Poverty 1997-2004
Angeriz, Alvaro; Chakravarty, Shanti - EconWPA - 2005
It has been noted that failure to meet the target set by government for reducing the head count ratio of child poverty in Britain is partly due to the success of government policy in generating economic growth. Apart from missing the argument that absolute poverty is not a meaningful idea, this...
Persistent link: https://www.econbiz.de/10005134612