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Belgium has effected a remarkable fiscal adjustment, best illustrated by the decline in its public debt. While benefiting from an appreciable decline in interest rates, most of the underlying consolidation reflected a considerable increase in the tax burden, one of the highest in the...
Persistent link: https://www.econbiz.de/10005768647
Using panel data for 15 industrial countries, active labor market policies (ALMPs) are shown to have raised employment rates in the business sector in the 1990s, after controlling for many institutions, country-specific effects, and economic variables. Among such policies, direct subsidies to...
Persistent link: https://www.econbiz.de/10005604960
households, suggesting that urban inflation up to 2005 in China was “pro-poor,†in the sense that the increase in the cost of …
Persistent link: https://www.econbiz.de/10011142159
This paper investigates the empirical characteristics of income inequality in China and a panel of BRIC+ countries over …€”an inverted Ushaped relationship between income inequality and economic development—in China and the panel of BRIC+ countries …. In the case of China, the empirical results indicate that government spending and taxation have opposing effects on …
Persistent link: https://www.econbiz.de/10011242236
This paper assesses how pro-poor and inclusive Asia’s recent growth has been, and what factors have been driving these outcomes. It finds that while poverty has fallen across the region over the last two decades, inequality has increased, dampening the impact of growth on poverty reduction. As...
Persistent link: https://www.econbiz.de/10011242249
This paper uses the Shapley Value decomposition technique to assess the factors behind the rise of inequality in China …. It finds that, in many ways, inequality may have been an inevitable by-product of China’s investment and export …. Across China’s provinces, divergences in per capita incomes are driven by the relative level of capital-intensity, public …
Persistent link: https://www.econbiz.de/10010790266
Consumption in China is unusually low and has continued to decline as a share of GDP over the past decade. A key policy …
Persistent link: https://www.econbiz.de/10008561091
We develop a micro-founded general equilibrium model with heterogeneous agents to identify pertinent constraints to financial inclusion. We evaluate quantitatively the policy impacts of relaxing each of these constraints separately, and in combination, on GDP and inequality. We focus on three...
Persistent link: https://www.econbiz.de/10011163128
From its early post-war catch-up phase, Germany’s formidable export engine has been its consistent driver of growth. But Germany has almost equally consistently run current account surpluses. Exports have powered the dynamic phases and helped emerge from stagnation. Volatile external...
Persistent link: https://www.econbiz.de/10011142028
Economic performance in many emerging market and developing economies (EMDEs) improved substantially over the past twenty years. The past decade was particularly good—for the first time EMDEs spent more time in expansion and had smaller downturns thanadvanced economies. In this paper we...
Persistent link: https://www.econbiz.de/10011142060