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Misperceptions About the Magnitude and Timing of Changes in American Income Inequality

Gordon, Robert J. - 2009

Recent contributions in the inequality literature have raised questions about previous research on skill-biased technical change and the managerial power of CEOs. Directly supporting our theme of prior exaggeration of the rise of inequality is new research showing that price indexes for the poor...

Persistent link: https://www.econbiz.de/10012463299

The Industry Anatomy of the Transatlantic Productivity Growth Slowdown

Gordon, Robert J. - 2019

By merging KLEMS data sets and aggregating over the ten largest Western European nations (EU-10), we are able to compare and contrast productivity growth up through 2015 starting from 1950 in the U.S. and from 1972 in the EU-10. Data are provided at the aggregate level, as well as for 16...

Persistent link: https://www.econbiz.de/10012479654

A Long Term Perspective on the Euro

Bordo, Michael D. - 2008

This study grounds the establishment of EMU and the euro in the context of the history of international monetary cooperation and of monetary unions, above all in the U.S., Germany and Italy. The purpose of national monetary unions was to reduce transactions costs of multiple currencies and...

Persistent link: https://www.econbiz.de/10012464832

The European Crisis in the Context of the History of Previous Financial Crises

Bordo, Michael D. - 2013

There are some striking similarities between the pre 1914 gold standard and EMU today. Both arrangements are based on fixed exchange rates, monetary and fiscal orthodoxy. Each regime gave easy access by financially underdeveloped peripheral countries to capital from the core countries. But the...

Persistent link: https://www.econbiz.de/10012459549

The Aftermath of the 1992 ERM Breakup : Was There a Macroeconomic Free Lunch?

Gordon, Robert J. - 1999

This paper examines the macroeconomic aftermath of the 1992 breakdown of the European Exchange Rate Mechanism (ERM). The economic performance of six leaver' nations is compared with five stayer' nations that maintained a roughly fixed parity with the Deutsche Mark. Recent writing about...

Persistent link: https://www.econbiz.de/10012471843

Two Centuries of Economic Growth : Europe Chasing the American Frontier

Gordon, Robert J. - 2004

, Europe fell behind steadily to a level of barely half in 1950, and then began a rapid catch-up. While Europe's level of … productivity has almost converged, its income per person has leveled off at about three-quarters of America's. How could Europe be … so productive yet so poor? The simple answer is that hours per person in Europe have fallen drastically in the past 40 …

Persistent link: https://www.econbiz.de/10012468028

Why was Europe Left at the Station When America's Productivity Locomotive Departed?

Gordon, Robert J. - 2004

After fifty years of catching up to the United States level of productivity, since 1995 Europe has been falling behind …. The growth rate in output per hour over 1995-2003 in Europe was just half that in the United States, and this annual … the period since 1995. Disaggregated studies of industrial sectors suggest that the main difference between Europe and the …

Persistent link: https://www.econbiz.de/10012468029

Monetary Policy Regimes and Economic Performance : The Historical Record

Bordo, Michael D. - 1997

Monetary policy regimes encompass the constraints or limits imposed by custom, institutions and nature on the ability of the monetary authorities to influence the evolution of macroeconomic aggregates. This paper surveys the historical experience of both international and domestic (national)...

Persistent link: https://www.econbiz.de/10012472613

Unskilled Migration : A Burden or a Boon for the Welfare State

Razin, Assaf - 1999

In a static setup, migration of unskilled labor may be resisted by the entire native-born population because, being relatively low earners, migrants are net beneficiaries of the fiscal system. However, the paper shows that with a pay-as-you-go pension, an important pillar of the welfare state,...

Persistent link: https://www.econbiz.de/10012471787

Welfare State, Inequality, and Globalization : Role of International-capital-flow Direction

Razin, Assaf - 2019

Globalization, in the form of financial flows, which is always advantageous on an aggregative level, typically creates winners and losers, if left exclusively to market forces. The effects of financial globalization on income inequality depends on whether the country exports its capital to the...

Persistent link: https://www.econbiz.de/10012479722