Using $2$20 (purchasing power parity) per capita daily income as the definition of middle class, majority of households in the Peoples Republic of China (PRC) have become middle class by 2007, which is especially impressive given that around 40% of households were still considered poor in 1991....

Recent years have witnessed increased interest in issues of inequality and mobility in the labor market. Using data from the Panel Study of Income Dynamics and the German Socio-Economic Panel, we compare the labor earnings mobility of prime age men and women in the United States and Germany...