Showing 1 - 10 of 16
If people understand that some macroeconomic policies are unsustainable, why would they vote for them in the first place? We develop a political economy theory of the endogenous emergence of fiscal crises, based on the idea that the adjustment mechanism to a crisis favors some social groups,...
Persistent link: https://www.econbiz.de/10011744963
This paper quantitatively investigates the short- and long-run effects of liberalizing global migration on the world distribution of income. We develop and parametrize a dynamic model of the world economy with endogenous migration, fertility and education decisions. We identify bilateral...
Persistent link: https://www.econbiz.de/10010333443
growth across the globe. In a large sample of countries, equality in the distribution of income as measured by the World Bank … in the World Values Survey, and democracy, all of which are good for growth as reflected in the purchasing power of per …
Persistent link: https://www.econbiz.de/10012018177
When measuring income inequality over long periods of time, accounting for population and productivity growth is … income growth than the standard measure. We apply these measures to long-term income data from the United States and find … growth since 1980 than when keeping top groups fixed. For earlier historical periods, our analysis shows that choice of …
Persistent link: https://www.econbiz.de/10011957201
higher growth of the experimental economy in the future. We find that trust is initially high in a treatment starting with …
Persistent link: https://www.econbiz.de/10010264271
theory involving capital and labour without neo-classical assumptions. Interestingly the growth story of the model seems to … be observationally equivalent to the Solow (1956) model of steady state growth. It can easily and effectively reflect on … across the globe independent of trade patterns. It is likely to increase growth rate but that rate declines over time …
Persistent link: https://www.econbiz.de/10012425595
its evolution with economic growth. The social discount rate (SDR) should be adjusted to account for intragenerational and … intergenerational inequality aversion and for risk aversion. If growth increases (reduces) intra-generational inequality, the SDR is … lower (higher) and the SCC higher (lower) than along an inequality-neutral growth path, especially if intra-generational and …
Persistent link: https://www.econbiz.de/10013353389
country size; that income growth will be a U-shaped function of initial income thus creating differentiated convergence; and …
Persistent link: https://www.econbiz.de/10012657999
intermediate good, then embed it in a growth model to address the effects of global production fragmentation, vertical … specialization and trade on growth and inequality for a small developing country. Among other results, we show that a small …
Persistent link: https://www.econbiz.de/10012799706
between economic growth and income inequity. We develop a simple model to establish that economic growth and inequality can … (economic growth). Our findings for the Associations of Southeast Asian Nations (ASEAN), People Republic of China and India (ACI …) economies are two-fold: first, we observed that for low values of economic growth, inequality and growth bear an inverted U …
Persistent link: https://www.econbiz.de/10010531854