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When Inequality Matters for Macro and Macro Matters for Inequality
Ahn, SeHyoun - 2017
We develop an efficient and easy-to-use computational method for solving a wide class of general equilibrium heterogeneous agent models with aggregate shocks, together with an open source suite of codes that implement our algorithms in an easy-to-use toolbox. Our method extends standard...
Persistent link: https://www.econbiz.de/10012954454
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Income Dispersion and Counter-Cyclical Markups
Edmond, Chris - 2010
Recent advances in measuring cyclical changes in the income distribution raise new questions: How might these distributional changes affect the business cycle itself? We show how counter-cyclical income dispersion can generate counter-cyclical markups in the goods market, without any preference...
Persistent link: https://www.econbiz.de/10012758231
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Disaggregating the Effect of the Business Cycle on the Distribution of Income
Blank, Rebecca M. - 2010
This paper disaggregates total household income into a complete set of components and studies the comparative cyclicality of these components to economic growth. Comparisons of the relative responsiveness to GNP growth of wages, hours of work, and total labor market income of heads and wives,...
Persistent link: https://www.econbiz.de/10012760256
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Earnings Inequality and the Business Cycle
Barlevy, Gadi; Tsiddon, Daniel - 2021
Economists have long viewed recessions as contributing to increasing inequality. However, this conclusion is largely based on data from a period in which inequality was increasing over time. This paper examines the connection between long-run trends and cyclical variation in earnings inequality....
Persistent link: https://www.econbiz.de/10013248126
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Macroeconomics, Income Distribution, and Poverty
Blank, Rebecca M.; Blinder, Alan S. - 2022
effects at all. In addition, changes in tax policy since 1950 have led to decreasing progressivity in the overall tax …
Persistent link: https://www.econbiz.de/10013324149
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Inequality, Business Cycles, and Monetary-Fiscal Policy
Bhandari, Anmol - 2018
responses of nominal interest rates and labor tax rates to aggregate shocks. Responses differ qualitatively from those in a …
Persistent link: https://www.econbiz.de/10012916616
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Cross Sectional Facts for Macroeconomists
Krueger, Dirk - 2010
This paper provides an introduction to the special issue of the Review of Economic Dynamics on "Cross Sectional Facts for Macroeconomists''. The issue documents, for nine countries, the level and the evolution, over time and over the life cycle, of several dimensions of economic inequality,...
Persistent link: https://www.econbiz.de/10013149990
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Latin American Inequality : Colonial Origins, Commodity Booms, or a Missed 20th Century Leveling?
Williamson, Jeffrey G. - 2015
Most analysts of the modern Latin American economy have held the pessimistic belief in historical persistence -- they believe that Latin America has always had very high levels of inequality, and that it's the Iberian colonists' fault. Thus, modern analysts see today a more unequal Latin America...
Persistent link: https://www.econbiz.de/10013029021
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A "Second Opinion" on the Economic Health of the American Middle Class
Burkhauser, Richard V. - 2011
Researchers considering levels and trends in the resources available to the middle class traditionally measure the pre-tax … cash income of either tax units or households. In this paper, we demonstrate that this choice carries significant … implications for assessing income trends. Focusing on tax units rather than households greatly reduces measured growth in middle …
Persistent link: https://www.econbiz.de/10013123312
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Non-Linear Effects of Taxation on Growth
Jaimovich, Nir - 2012
We propose a model consistent with two observations. First, the tax rates adopted by different countries are generally … their growth performance. In our model, the effects of taxation on growth are highly non-linear. Low or moderate tax rates … have a very small impact on long-run growth rates. But as tax rates rise, their negative impact on growth rises …
Persistent link: https://www.econbiz.de/10013099129