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Present-biased envy, inequality, and growth

Borissov, Kirill; Pakhnin, Mikhail; Wendner, Ronald - 2024

We take into account that envy (relative consumption concerns) is more pronounced in the present than in the future. We … exogenous parameters. Agents' preferences exhibit present-biased envy: agents are naive and care about how their consumption … levels compare to that of others in the current period. Our results suggest that present-biased envy affects both the level …

Persistent link: https://www.econbiz.de/10014528209

To what extent are public pensions Pareto-improving? : on the interaction of means tested basic income and public pensions

Fenge, Robert; Weizsäcker, Jakob von - 1999

If there is a means tested basic income for old age, households will tend to reduce precautionary savings to an inefficiently low level. This might serve as a justification for a public pension system. In a representative agent framework, indeed, the introduction of a compulsory pension s ystem...

Persistent link: https://www.econbiz.de/10009781692

Managerial versus production wages : offshoring, country size and endowments

Benz, Sebastian; Kohler, Wilhelm - 2010

In this paper, we explore the role of trade in differentiated final goods as well offshoring of tasks for inequality both within and between countries. We emphasize the distinction between managerial and production labor. Production labor is assumed to be a variable input composed of tradable...

Persistent link: https://www.econbiz.de/10009156628

Distribution and growth in an economy with limited needs

Saint-Paul, Gilles - 2001

This paper studies a model of the distribution of income under bounded needs. Utility derived from any given good reaches a bliss point at a finite consumption level of that good. On the other hand, introducing new varieties always increases utility. It is assumed that each variety is owned by a...

Persistent link: https://www.econbiz.de/10011398011

Pro-poor price trends and inequality : the case of India

Almås, Ingvild; Kjelsrud, Anders - 2016

It is well known that people’s consumption patterns change with income. Relative price changes therefore affect rich and poor consumers differently. Yet, the standard price indices are not income-specific and hence, the use of these mask these differences in cost-of-living. In this paper, we...

Persistent link: https://www.econbiz.de/10011421580

Wage inequality dynamics and trade exposure in South Korea

Karacaovali, Baybars; Tabakis, Chrysostomos - 2016

Persistent link: https://www.econbiz.de/10011541505

Globalization, wage polarization, and the unstable great ratio

Cozzi, Guido; Impullitti, Giammario - 2014

The US labour market has experienced a remarkable polarization in the 1980s and 1990s. Moreover, recent empirical work has documented a sharp increase in the wealth to income ratio in that period. Contemporary to these inequality trends, the US faced a fast technological catch-up as European...

Persistent link: https://www.econbiz.de/10010417976

Do cognitive test scores explain higher U.S. wage inequality?

Blau, Francine D.; Kahn, Lawrence M. - 2004

Using microdata from the 1994-8 International Adult Literacy Survey (IALS) for nine countries, we examine the role of cognitive skills in explaining higher wage inequality in the United States. We find that while the greater dispersion of cognitive test scores in the United States plays a part...

Persistent link: https://www.econbiz.de/10011402626

Education, growth and income inequality

Teulings, Coen N.; Rens, Thijs van - 2002

When types of workers are imperfect substitutes, the Mincerian rate of return to human capital is negatively related to the supply of human capital. We work out a simple model for the joint evolution of output and wage dispersion. We estimate this model using cross-country panel data on GDP and...

Persistent link: https://www.econbiz.de/10011408972

Technical change and unemployment : policy responses and distributional considerations

Moutos, Thomas; Scarth, William M. - 2002

We analyze some macroeconomic implications that follow from the fact that people tend to consume higher-quality goods as their incomes rise. The model involves two sectors: one producing a homogeneous good and the other producing a product with variable levels of quality. Both sectors use...

Persistent link: https://www.econbiz.de/10011409777