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Jones, Charles I. - 2021

Ideas are different from nearly all other economic goods in that they are nonrivalrous. This nonrivalry implies that production possibilities are likely to be characterized by increasing returns to scale, an insight that has profound implications for economic growth. The purpose of this chapter...

Persistent link: https://www.econbiz.de/10013225156

The World Income Distribution

Acemoglu, Daron; Ventura, Jaume - 2021

We show that even in the absence of diminishing returns in production and techno-logical spillovers, international trade leads to a stable world income distribution. This is because specialization and trade introduce de facto diminishing returns: countries that accumulate capital faster than...

Persistent link: https://www.econbiz.de/10013249141

Minimum Wages and the Distribution of Family Incomes

Dube, Arindrajit - 2018

There is robust evidence that higher minimum wages increase family incomes at the bottom of the distribution. The long run (3 or more years) minimum wage elasticity of the non-elderly poverty rate with respect to the minimum wage ranges between -0.220 and -0.459 across alternative...

Persistent link: https://www.econbiz.de/10012908164

The Effects of Minimum Wages Throughout the Wage Distribution

Neumark, David; Schweitzer, Mark E.; Wascher, William L. - 2021

This paper provides evidence on a wide set of margins along which labor markets can adjust in response to increases in the minimum wage, including wages, hours, employment, and ultimately labor income, representing the central margins of adjustment that impact the economic well-being of workers...

Persistent link: https://www.econbiz.de/10013219178

The Effect of Minimum Wage Legislation on Income Equality : A Theoreticalanalysis

Mcculloch, J. Huston - 2021

Minimum wage legislation is frequently advocated in the belief that itcreates a more nearly equal distribution of income. A one-sector model of general equilibrium is used to analyze a universally applicable minimum wage, and a two-sector model is used to analyze a minimum wage that is only...

Persistent link: https://www.econbiz.de/10013222939

The Effects of Minimum Wages on the Distribution of Family Incomes : A Non-Parametric Analysis

Neumark, David; Schweitzer, Mark E.; Wascher, William L. - 2021

The primary goal of a national minimum wage floor is to raise the incomes of poor or near-poor families with members in the work force. However, estimates of employment effects of minimum wages tell us relatively little about whether minimum wages are likely to achieve this goal; even if the...

Persistent link: https://www.econbiz.de/10013228618

The Contribution of the Minimum Wage to U.S. Wage Inequality Over Three Decades : A Reassessment

Autor, David H. - 2011

We reassess the effect of state and federal minimum wages on U.S. earnings inequality using two additional decades of data and far greater variation in minimum wages than was available to earlier studies. We argue that prior literature suffers from two sources of bias and propose an IV strategy...

Persistent link: https://www.econbiz.de/10013132486

Do Minimum Wages Fight Poverty?

Neumark, David; Wascher, William L. - 2021

The primary goal of a national minimum wage floor is to raise the incomes of poor or near-poor families with members in the work force. However, estimates of employment effects of minimum wages tell us little about whether minimum wages are can achieve this goal; even if the disemployment...

Persistent link: https://www.econbiz.de/10013210667

The Creation of Effective Property Rights

Grossman, Herschel I. - 2021

with analysing the allocation of resources among productive uses and the distribution of the resulting product. But, this … effective property rights that inform allocation and distribution are themselves an alternative use of scarce resources ….This paper develops two canonical general-equilibrium models of resource allocation and income distribution that allow for the …

Persistent link: https://www.econbiz.de/10013249352

Matching and Inequality in the World Economy

Costinot, Arnaud - 2010

factor allocation and factor prices in economies with a large number of goods and factors. The main results of our paper …

Persistent link: https://www.econbiz.de/10012757956