Wage functions provide much useful descriptive information about those characteristics of individuals which are associated with relatively high or low wage rates. In any cross-sectional survey there are many individuals who are not working at the time the survey is carried out. Such people may...

In a model of endogenous choice of location and endogenous aversion against inequality, we demonstrate that large pre-tax difference in income may lead to a residential segregation of rich and poor. Such segregation may reduce the social attachment between the groups in society, and reduce the...

This paper has examined simple versions of life-cycle. Keynesian, and target wealth models of consumption. It has drawn out their implications for the age profile of wealth inequality. The latter is observed to decline over the working lifetime and to uncrease in retirement in a range of...

A panel study reveals that an increase in pretax income equality leads to sudstantially lower retail prices. Prices also fall if the income tax on high income families is raised. One explanation is that equality makes consumer demand more elastic. This would imply that progressive taxation helps...

Policies to redistribute income between high- and low-income groups are well known to distort factor supply decisions and thereby to generate deadweight losses incidental to income redistribution. This paper examines the effects that these same distortions may also have on factor supplies...

В статье рассматриваются теоретические вопросы формирования института оплаты труда в рыночной экономике. Доказано, что функционирование института оплаты...

The variance in the logarithms of per capita GDP in purchasing power-parity prices increased in the world form 1960 to 1968 and decreased since the mid 170s. In the later period the convergence in intercountry incomes more than offset any increase in within country inequality. Approximately...