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This paper investigates the global macroeconomic consequences of falling oil prices due to the oil revolution in the United States, using a Global VAR model estimated for 38 countries/regions over the period 1979Q2 to 2011Q2. Set-identification of the U.S. oil supply shock is achieved through...
Persistent link: https://www.econbiz.de/10012998782
strategies, world oil prices would be higher but more stable …
Persistent link: https://www.econbiz.de/10013086007
Major output collapses are costly and frequent in the developing world. Using cross-country data, we classify five …
Persistent link: https://www.econbiz.de/10014260077
We present a simple model of petroleum exploration and development that can be applied to study the performance of …
Persistent link: https://www.econbiz.de/10013089305
Based on stylized evidence showing variation of the Gini coefficient of income inequality across skill cohorts and on … the rapid rise in trade in technology-intensive goods, the ripple effects of technology transmission and income inequality … income inequality to decline. The conjoined parameters retard growth's inequality-enhancing effect and thus facilitate long …
Persistent link: https://www.econbiz.de/10012777769
The combination of stagnant growth and high levels of income inequality renewed the debate about whether a more even … distribution of income can spur economic activity. This paper tests for cross-country convergence in income inequality and … empirical challenges plaguing the literature. We find that income inequality is converging across countries, and that its impact …
Persistent link: https://www.econbiz.de/10012962147
We review the debate on the association of financial globalization with inequality. We show that the within …
Persistent link: https://www.econbiz.de/10013243076
resource: female labor. By allocating female labor to its more productive use, we hypothesize that reducing gender inequality … women grow relatively faster in countries with ex-ante lower gender inequality. The test allows us to identify the causal … effect of gender inequality on industry growth in value-added and labor productivity. Our findings show that gender …
Persistent link: https://www.econbiz.de/10012827585
This paper examines the empirical relationship between inequality and growth, and analyzes the impacts of growth …, inequality, and government spending on poverty reduction. A new panel dataset has been assembled on inequality and poverty that … challenge the belief that income inequality has a negative effect on growth and confirm the validity of the Kuznets curve …
Persistent link: https://www.econbiz.de/10013318088
between the operation of the financial system and economic growth and inequality. While subject to ample qualifications, the …
Persistent link: https://www.econbiz.de/10013306793