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Monetary Policy and Redistribution in Open Economies
Guo, Xing - 2020
We study how monetary policy affects the asymmetric effects of globalization. To this end, we build an open-economy heterogeneous-agent New Keynesian model (HANK), in which households differ in their income, wealth, and real and financial integration with international markets. We use the model...
Persistent link: https://www.econbiz.de/10012482432
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Political Economy of Sovereign Debt : A Theory of Cycles of Populism and Austerity
Dovis, Alessandro - 2016
We study optimal fiscal and redistributive policies in an open economy without commitment. Due to its redistributive motives, the government's incentive to default on its external debt is affected by inequality. We show that in equilibrium the economy endogenously fluctuates between two regimes....
Persistent link: https://www.econbiz.de/10012456725
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Redistribution through Education and Other Transfer Mechanisms
Hanushek, Eric - 2001
attendance, labor supply, wage determination, and aggregate production, which is used to compare alternative redistribution …
Persistent link: https://www.econbiz.de/10012470128
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Trade, Income Inequality, and Government Policies : Redistribution of Income or Education Subsidies?
Janeba, Eckhard - 2000
skills or not. The government influences individual decision-making by redistribution of income or by subsidizing investment …
Persistent link: https://www.econbiz.de/10012471291
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Is Inequality Harmful for Growth? Theory and Evidence
Persson, Torsten - 1991
Is inequality harmful for growth? We suggest that it is. To summarize our main argument: in a society where distributional conflict is more important, political decisions are more likely to produce economic policies that allow private individuals to appropriate less of the returns to growth...
Persistent link: https://www.econbiz.de/10012475421
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Optimal Income Redistribution When Individual Welfare Depends Upon Relative Income
Boskin, Michael J. - 1976
The purpose of the present note is to explore the structure of optimal income taxation/redistribution in an economy …, of course, an additional incentive for income redistribution from wealthy to poor citizens is created and the logical …
Persistent link: https://www.econbiz.de/10012478985
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Inequality, Technology, and the Social Contract
Benabou, Roland - 2004
The distribution of human capital and income lies at the center of a nexus of forces that shape a country's economic, institutional and technological structure. I develop here a unified model to analyze these interactions and their growth consequences. Five main issues are addressed. First, I...
Persistent link: https://www.econbiz.de/10012468322
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Categorical Redistribution in Winner-Take-All Markets
Fryer, Roland G. - 2003
This paper constructs a simple model of pair-wise tournament competition to investigate categorical redistribution in … winner-take-all markets. We consider two forms of redistribution: category-sighted, where employers are allowed to use … equilibrium category-sighted redistribution scheme involves a constant handicap given to agents in the disadvantaged category …
Persistent link: https://www.econbiz.de/10012468590
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Inequality and Trade
Mitra, Devashish - 2003
inequality. Our theory formalizes as well as modifies Linder's conjecture about the relationship between intraindustry trade and …
Persistent link: https://www.econbiz.de/10012468607
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Public Goods and the Distribution of Income
Kaplow, Louis - 2003
should be provided, determining how the provision of public goods affects the desirability of income redistribution, and …
Persistent link: https://www.econbiz.de/10012468856