The emphasis on growth has led to an under-emphasis of the micro-impacts of macro-economic policies. Whether growth reduces income-poverty is crucially dependent on its impact on employment. This paper addresses the question: what kind of productive employment can an economy generate that...

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This paper develops a methodology to measure the impact of price changes on poverty measured by an entire class of additive separable poverty measures. This impact is captured by means of price elasticity of poverty. The total effect of changes in price on poverty is explained in terms of two...

The U.S. economy is monopolizing global net savings, i.e., about two-thirds of the total. Other rich countries, such as Japan and Germany, oil exporters, such as Saudi Arabia, middleincome countries, such as China, and even some low-income countries, such as India and Indonesia, export capital...

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