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The demographic transition is introduced into the otherwise standard Ramsey model to generate multiple equilibria, poverty traps, and demography-driven cycles. The model is calibrated for global data to explore the demographic conditions under which multiplicity is realized. Three cases arise,...
Persistent link: https://www.econbiz.de/10010274561
The demographic transition is introduced into the otherwise standard Ramsey model to generate multiple equilibria, poverty traps, and demography-driven cycles. The model is calibrated for global data to explore the demographic conditions under which multiplicity is realized. Three cases arise,...
Persistent link: https://www.econbiz.de/10008836671
complementarity in the practice. The model is estimated on panel data for workers and firms in Russia, facilitating identification …
Persistent link: https://www.econbiz.de/10005763706
This paper addresses the design of the machinery of collective bargaining from the perspective of the needs of microeconomic and macroeconomic flexibility. In the former context, greater attention is given over to enterprise flexibility than external adjustment. In the latter context, close...
Persistent link: https://www.econbiz.de/10011420762
for global inequality. We develop and parameterize a two-sector, two-class, world economy model that endogenizes education … and mobility decisions, population growth, and income disparities across and within countries. First, our static … experiments reveal that the geography of skills matters for global inequality. Low access to education and sectoral misallocation …
Persistent link: https://www.econbiz.de/10011931769
inequality is permanent, the increase in growth appears to be permanent. However, our estimates imply that it would take 13 years …Pooling data for 1905 to 2000, we find no systematic relationship between top income shares and economic growth in a … top decile's income share is associated with a statistically significant 0.12 point rise in GDP growth during the …
Persistent link: https://www.econbiz.de/10010269773
We analyze the association between inequality and growth across 72 labor market regions in Sweden 1990-2006. Highly … accurate measures of growth and inequality (gini, Q3, p9075, p5010) are derived from population register data. The regional set … inequality enhances growth by stimulating commuting incentives. …
Persistent link: https://www.econbiz.de/10010278526
end of a period serves as her endowment in the following period. In this setting growth and inequality arise endogenously …. Inequality and group income are positively correlated for poor groups, but negatively correlated for rich groups. There is very … strong path dependence: inequality in early periods is strongly negatively correlated with group income in later periods …
Persistent link: https://www.econbiz.de/10010421189
The most basic economic theory suggests that rising incomes in developing countries will deter emigration from those countries, an idea that captivates policymakers in international aid and trade diplomacy. A lengthy literature and recent data suggest something quite different: that over the...
Persistent link: https://www.econbiz.de/10010468120
We examine the (potentially nonlinear) relationship between inequality and growth using a method which does not require … used (nonlinear) parametric approaches - the economy first expands rapidly with a large decline in inequality, plateaus … when inequality remains relatively stable, and then decreases rapidly with a large increase in inequality. This novel …
Persistent link: https://www.econbiz.de/10010481670