Keynes's "Grandchildren" essay famously predicted both a rapid increase in productivity and a sharp shrinkage of the workweek - to fifteen hours - over the century from 1930. Keynes was right (so far) about output per capita, but wrong about the workweek. The key reason is that he failed to...

Economic growth leads, according to Kuznets, at first to glaring income disparities and only when a certain state of development has been reached to a levelling of incomes. Translating this thesis to the developing countries, one would have to assume that there exists a constant conflict of...

This paper studies future poverty, inequality, and shared prosperity outcomes using a panel data set with 150 countries over 1980-2014. The findings suggest that global extreme poverty will decrease in absolute and relative terms in the period 2015-2030. However, absolute poverty is likely to...

This paper uses cross-section data for 107 countries to explore the relationship between gender inequality and economic growth. The paper departs from the literature by using a broad measure of gender inequality that goes well beyond gender inequality in education, which has been the focus of...

This paper re-examines the roles of changes in income and inequality in poverty reduction. The study provides estimates of the relative effects of inequality reduction versus growth promotion in reducing poverty for countries with different levels of initial poverty. The analysis uses country...

Although there has been research looking at the relationship between the structure of the financial system and economic growth, much less work has dealt with the importance of bank-based versus market-based financial systems for poverty and income distribution. Empirical evidence has indicated...

The author analyzes the stability of the empirical relationship between growth and changes in inequality over time. He concludes that while during the 1970s and 1980s the growth process was not accompanied by increases in inequality, during the 1990s a positive and significant correlation...

Income disparity across countries has been large and widening over time. We develop a tractable model where factor requirements in production technology do not necessarily match a country's factor input profile. Appropriate assimilation of frontier technologies balances such multi-dimensional...