Income inequality has increased in both developed and developing countries, and this growing inequality is in large part due to a shift in factor shares in favor of capital and to the detriment of labor. Factor shares have varied systematically over the post-World War II period, rising until the...

Volume 1: Econometric General Equilibrium Modeling presents an econometric approach to general equilibrium modeling of the impact of economic policies. Earlier approaches were based on the "calibration" of general equilibrium models to a single data point. The obvious disadvantage of calibration...