Since globalisation accelerated in the early 1990s, income inequality has increased in most developed countries and in some middle-income countries, including China and India. Also, inequality has declined in most countries of Latin America and the Caribbean and in many Sub-Saharan African and...

Classical residential location choice models were constructed as uncertainty-free. Using the expected utility theorem, urban researchers have dealt with different types of uncertainties, such as uncertain income, uncertain housing price, uncertain transportation cost, etc. This paper, however,...

This paper studies the hypothesis of an inverted-U-shaped relationship between spatial inequality and economic development. The theory of Kuznets (1955) and Williamson (1965) suggests that (spatial) inequality first increases in the process of development, then peaks, and then decreases. To test...

We study the effect of spatial inequality on economic activity. Given that the relationship is highly simultaneous in nature, we use exogenous variation in geographic features to construct an instrument for spatial inequality, which is independent from any man-made factors. Inequality measures...

Demographic change brings complex challenges to the economic, social, and environmental systems of cities, with its asymmetric, overlapping, and compounded impacts across people and places. This paper analyses the main demographic trends and challenges in cities across OECD countries, with a...

What accounts for the growth of US top income inequality? This paper proposes a hierarchical redistribution hypothesis. The idea is that US firms have systematically redistributed income to the top of the corporate hierarchy. I test this hypothesis using a large scale hierarchy model of the US...

Wealth is distributed more unevenly than income, and one contributing factor might be that richer households earn higher portfolio returns. I uncover one channel that causes portfolio returns to be increasing in wealth: Poorer households consistently buy risky assets in booms-when expected...

The contribution of this paper is to explain how to achieve a universally prosperous environmentally sustainable global society. This objective is incompatible with traditional economic policies dependent on environmentally exploitive growth in the population and/or full employment to generate...

We derive sufficient conditions for non-emptyness of the efficient set for Stochastic Dominance Relations, commonly applied in Economics and Finance, over sets of distributions on the real line. We do so via the use of the concept of stochastic spanning and its characterization via a saddle type...