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Growth and Ideas
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
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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
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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
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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
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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
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Labor Market Institutions and the Distribution of Wages, 1973-1992 : A Semiparametric Approach
DiNardo, John E.; Fortin, Nicole M.; Lemieux, Thomas - 2021
This paper presents a semiparametric procedure to analyze the effects of institutional and labor market factors on recent changes in the U.S. distribution of wages. The effects of these factors are estimated by applying kernel density methods to appropriately 'reweighted' samples. The procedure...
Persistent link: https://www.econbiz.de/10013225404
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The Effects of Minimum Wages on the Distribution of Family Incomes : A Non-Parametric Analysis
Neumark, David; Schweitzer, Mark; Wascher, William - 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
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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
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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
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Evidence on Growth, Increasing Returns and the Extent of the Market
Beaulieu, Joseph - 2011
We examine two sets of economies, (19th century U.S. states and 20th century less developed countries) where growth rates are positively correlated with initial levels of development to document how these dynamic increasing returns operate. We find that open economies do not display a positive...
Persistent link: https://www.econbiz.de/10013124835