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The role of climate change on economic performance and output has been studied extensively in the empirical literature, however, its distributional effects have received little attention. This paper attempts to fill this gap by investigating whether climate shocks affect income inequality in a...
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We develop a classical macroeconomic model to examine the growth and distributional consequences of education. Contrary to the received wisdom, we show that human capital accumulation is not necessarily growth-inducing and inequality-reducing. Expansive education policies may foster growth and...
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This article challenges recent findings that democracy has sizable effects on economic growth. As extensive political … paper focuses on this endogeneity concern. Using a worldwide survey of 165 country-specific democracy experts conducted for … these more exogenous democratizations strongly indicates that democracy does not cause growth. Consequently, the common …
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