Global merchandise trade expanded rapidly over the last 6 1/2 decades and its relationship with global income has seen … exports and income. The paper estimates trade and income elasticities using ADL models taking account of structural breaks … and income are in a 'new normal' or only 'back to (an old) normal' after the GTC and GFC …

and inequality. Our cross-country estimates for trade's impact on real income areconsistently positive and significant … over time. At the same time, we do not find anystatistical evidence that more trade increases aggregate measures of income …

We revisit Lipset's law, which posits a positive and significant relationship between income and democracy. Using … dynamic and heterogeneous panel data estimation techniques, we find a significant and negative relationship between income and … democracy: higher/lower incomes per capita hinder/trigger democratization. Decomposing overall income per capita into its …

uncomfortably high in many, particularly non-oil producing countries and middle income oil producers. Non-oil countries adjust …, though procyclical, fiscal policies. Middle-income (but not high-income) oil producing countries would need to adjust … somewhat to bring their policies in line with the permanent oil income benchmark …

analyze the distribution of the subsidies using household survey data and find that the bulk of the subsidies benefit higher-income … protecting the real incomes of lower-income households from the effects of energy price increases …

realistic model, populated by sixty-two generations of people. We calibrate our model to an income profile from U.S. data and we …