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The authors construct, estimate, and simulate a macroeconomic model for Chile. This model allows aggregate supply and demand factors to interact in determining such key economic variables as inflation, the real wage, the real exchange rate, real output and employment, and the current account...
Persistent link: https://www.econbiz.de/10005080095
After relatively stable income distribution in the 1960s, and a redistribution toward low income groups under Allende, income shares declined for the 40 percent of the population (low and lower middle income groups) under Pinochet. The top 20 percent benefited most from the income shift away...
Persistent link: https://www.econbiz.de/10005128618
liberalization alone have not brought stable, equitable development. Inequality of income and wealth, far from declining, seems to …. The author argues that income distribution and the reduction of social inequality are valid policy targets on their own … that social inequality engenders social conflict, invites taxation of physical investments, and induces economic populism …
Persistent link: https://www.econbiz.de/10005106902
The author identifies fundamental economic changes in the last 20 years that have influenced the emergence of a new paradigm on economic reform. The new orthodoxy on economic reform emphasizes smaller government, trade liberalization, business deregulation and privatization, macroeconomic...
Persistent link: https://www.econbiz.de/10005030365