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conventional wisdom, rather than calling for more redistribution, the presence of this scale dependence provides a rationale for …. At an aggregate level, a rise in redistribution induces a compression effect on the distribution of pre-tax returns. In … the financial market, I identify general equilibrium trickle-up externalities that provide a force for more redistribution …
Persistent link: https://www.econbiz.de/10013233147
opportunities and outcomes. We elicit redistribution decisions from a U.S.-representative sample who observe worker outcomes and … lucky opportunities. Our findings have implications for models that seek to understand and predict redistribution attitudes …, and help to explain the gap between lab evidence on support for redistribution and U.S. inequality trends …
Persistent link: https://www.econbiz.de/10014357631
find that Germans systematically underestimate their true place in the world’s income distribution, but that correcting …
Persistent link: https://www.econbiz.de/10013231987
growth across the globe. In a large sample of countries, equality in the distribution of income as measured by the World Bank … and by The Standardized World Income Inequality Database are seen to be correlated with economic diversification, the rule … 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/10012892099
The social cost of carbon is the central economic measure for aggregate climate change damages and functions as a metric for optimal carbon prices. Previous literature shows that inequality significantly influences the level of the social cost of carbon, but mostly neglects a major source of...
Persistent link: https://www.econbiz.de/10012870643
This paper proposes three theoretical mechanisms through which polygyny may be related to social unrest. The mechanisms are related to different dimensions of grievance-inducing and, partly, greed-related inequality, which may occur in polygynous societies. These dimensions include (i) economic,...
Persistent link: https://www.econbiz.de/10012836203
We introduce distributive justice into a simple model of growth and distribution. Two groups (‘classes’) of otherwise identical, capital-rich and capital-poor individuals (‘capitalists’) and (‘workers’) are in conflict over factor (labour-capital) shares. Capitalists’ (workers’)...
Persistent link: https://www.econbiz.de/10012871763
of utility, and lower preferred levels of income redistribution. In societies with a low level of actual social mobility … social mobility increases. Using data on happiness and a broad set of fairness measures from the World Values Survey, we find …
Persistent link: https://www.econbiz.de/10010274890
a debt trap requires consideration of less standard macroeconomic policies, such as those focused on redistribution or …
Persistent link: https://www.econbiz.de/10012836950
Using new long-run microdata, this paper studies wealth and income trends of college and non-college households in the United States since 1956. We document the emergence of a substantial college wealth premium since the 1980s, which is considerably larger than the college income premium. Over...
Persistent link: https://www.econbiz.de/10012866555