While there is growing evidence of persistent or even permanent output losses from financial crises, the causes remain unclear. One candidate is intangible capital - a rising driver of economic growth that, being non-pledgeable as collateral, is vulnerable to financial frictions. By sheltering...

We posit that the relationship between income inequality and economic growth ismediated by the level of equality of opportunity, which we identify with intergenerationalmobility. In economies characterized by intergenerational rigidities, an increase in incomeinequality has persistent...

We examine the impact of gender equality on electoral violence in Africa using micro-level data from the sixth round of Afrobarometer surveys. The sample covers 30 countries. We find that gender equality is associated with lower electoral violence. Quantitatively, our estimates show that an...

This study analyzes Cabo Verde's demographic transition from the perspective of gender equality. As the pace of the demographic transition slows, promoting gender equality and increasing women's labor force participation will be progressively more important in enhancing otherwise slow-growth...

We show that gender inequality decreases the variety of goods countries produce and export, in particular in low-income and developing countries. We argue that this happens through at least two channels: first, gender gaps in opportunity, such as lower educational enrollment rates for girls than...

This paper considers various dimensions and sources of gender inequality and presents policies and best practices to address these. With women accounting for fifty percent of the global population, inclusive growth can only be achieved if it promotes gender equality. Despite recent progress,...

This paper argues that sex discrimination is an inefficient practice. We model sex discrimination as the complete exclusion of females from the labor market or as the exclusion of females from managerial positions. The former implies a reduction in GDP per capita; the latter distorts the...

Wages have been rising faster than productivity in many European countries for the past few years, yet signs of underlying consumer price pressures remain limited. To shed light on this puzzle, this paper examines the historical link between wage growth and inflation in Europe and factors that...

The services sector is increasingly important for the euro area economy, but productivity growth in the sector has stalled over the past two decades. Remaining barriers to cross-border trade in services within the EU Single Market contribute to this weak performance. Our empirical analysis...

The extent of tax compliance has important implications for revenue yield, efficiency and the fairness of any tax system. Tax evasion undermines revenue collection, distorts competition, and undermines a country's development prospects. In this paper, we investigate whether higher productivity...