We draw on a dynamical two-sector model and on a calibration exercise to study the impact of a skill-biased technological shock on the growth path and income distribution of a developing economy. The model builds on the theoretical framework developed by Silverberg and Verspagen (1995) and on...

We study the relationship between market efficiency and the distribution of private information in experimental financial asset markets. Traders receive imperfect signals over the real value of an asset. Agents can share their information within a relatively small - compared to market size -...

Climate policies, including removing fossil fuel subsidies or imposing carbon prices, can be designed in a way that is both efficient in addressing climate change and results in a fair distribution of the associated costs.

Climate policies, including removing fossil fuel subsidies or imposing carbon prices, can be designed in a way that is both efficient in addressing climate change and results in a fair distribution of the associated costs.

This report, by the co-chairs of the T20 process during Germany's G20 Presidency, presents 20 key policy recommendations for G20 policy-makers and stakeholders. The policy recommendations are formulated concisely to be easily accessible to those seeking a short summary of the main conclusions....

The authors propose a policy compact to achieve more inclusive growth in G20 countries so that economic growth regains the ultimate sense of improving all people's lives. Guiding principles are: 1) prosperity is not just about income but about all relevant outcomes of well-being and capabilities...

We draw on a dynamical two-sector model and on a calibration exercise to study the impact of a skill-biased technological shock on the growth path and income distribution of a developing economy. The model builds on the theoretical framework developed by Silverberg and Verspagen (1995) and on...

Globalization is defined as an individual’s connectivity in global networks. Social identity is conceptualized as attachment and identification with a group. We use questionnaire items to measure individual involvement with global networks along with local, national, and global social...

Two traditional theorems of welfare economics posit a trade-off between a government redistribution targets and efficiency. We propose a third ‘claim’ of welfare economics, stating that in closed economies the actual efficiency costs associated with redistribution are small. We then examine...

Globalization is defined for individuals as their connectivity in global networks. Social identity is conceptualized as attachment and identification with a group. We measure individual involvement with global networks and local, national, and global social identity through a questionnaire....