Narrow search
Showing 1 - 10 of 4,452
Cover Image
Seigniorage and Fixed Exchange Rates : An Optimal Inflation Tax Analysis
Fischer, Stanley - 2021
determination of the revenue received from seigniorage. If the country goes further and uses a foreign money, it loses all … seigniorage. This paper uses an optimal inflation tax approach to analyze the consequences for optimal rates of income taxation … and welfare of the alternative exchange rate and monetary arrangements. From the viewpoint of seigniorage, a system in …
Persistent link: https://www.econbiz.de/10013215367
Cover Image
Can the Central Bank Alleviate Fiscal Burdens?
Reis, Ricardo - 2017
Central banks affect the resources available to fiscal authorities through the impact of their policies on the public debt, as well as through their income, their mix of assets, their liabilities, and their own solvency. This paper inspects the ability of the central bank to alleviate the fiscal...
Persistent link: https://www.econbiz.de/10012966585
Cover Image
Mismatch and Assimilation
Wang, Ping - 2018
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...
Persistent link: https://www.econbiz.de/10012911691
Cover Image
Explaining Inequality the World Round : Cohort Size, Kuznets Curves, Andopenness
Higgins, Matthew; Williamson, Jeffrey G. - 2021
Klaus Deininger and Lyn Squire have recently produced an inequality data base for a panel of countries from the 1960s to the 1990s. We use these data to decompose the sources of inequality into three central parts: the demographic or cohort size effect; the so-called Kuznets Curve or demand...
Persistent link: https://www.econbiz.de/10013236686
Cover Image
The World Distribution of Income (Estimated from Individual Country Distributions)
Sala-i-Martin, Xavier - 2021
We estimate the world distribution of income by integrating individual income distributions for 125 countries between … hosted 11% of the world's poor in 1960. It hosted 66% of them in 1998. We estimate nine indexes of income inequality implied … by our world distribution of income. All of them show substantial reductions in global income inequality during the 1980s …
Persistent link: https://www.econbiz.de/10013313226
Cover Image
Inequality and Growth : What Can the Data Say?
Banerjee, Abhijit V.; Duflo, Esther - 2022
in control variables and estimation methods. This inverted U-curve is consistent with a simple political economy model …
Persistent link: https://www.econbiz.de/10013323994
Cover Image
Inequality and Growth
Bénabou, Roland - 2021
Using two unifying models and an empirical exercise, this paper present and extends the main theories linking income distribution and growth, as well as the relevant empirical evidence. The first model integrates the political economy and imperfect capital markets theories. It allows for...
Persistent link: https://www.econbiz.de/10013223063
Cover Image
Intergenerational Earnings Mobility, Inequality, and Growth
Owen, Ann L.; Weil, David N. - 2021
We examine a model in which per capita income, inequality, intergenerational mobility, and returns to education are all determined endogenously. Individuals earn wages depending on their ability, which is a random variable. They purchase an education with transfers received from their parents,...
Persistent link: https://www.econbiz.de/10013249148
Cover Image
Indebted Demand
Mian, Atif R.; Straub, Ludwig; Sufi, Amir - 2022
We propose a theory of indebted demand, capturing the idea that large debt burdens by households and governments lower aggregate demand, and thus natural interest rates. At the core of the theory is the simple yet under-appreciated observation that borrowers and savers differ in their marginal...
Persistent link: https://www.econbiz.de/10013310571
Cover Image
A Model of Secular Stagnation : Theory and Quantitative Evaluation
Eggertsson, Gauti B. - 2017
This paper formalizes and quantifies the secular stagnation hypothesis, defined as a persistently low or negative natural rate of interest leading to a chronically binding zero lower bound (ZLB). Output-inflation dynamics and policy prescriptions are fundamentally different from those in the...
Persistent link: https://www.econbiz.de/10012964406