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The U.K.'s decision to leave the EU and the voting in of the protectionist Donald Trump to the US presidency has drawn both the UK and the USA into the Nash Trap.U.S. mathematician John Nash (the movie ‘A Beautiful Mind') postulated that Adam Smith's declaration that ‘In competition,...
Persistent link: https://www.econbiz.de/10012959184
presence of higher levels of income inequality after the crisis. …
Persistent link: https://www.econbiz.de/10012144893
In the present paper it is pointed out that government debt is an obstacle to economic growth. To my belief, the remedy …
Persistent link: https://www.econbiz.de/10013152967
This paper improves a standard Structural Panel Bayesian Vector Autoregression model in order to jointly deal with issues of endogeneity, because of omitted factors and unobserved heterogeneity, and volatility, because of policy regime shifts and structural changes. Bayesian methods are used to...
Persistent link: https://www.econbiz.de/10012547425
, and the long-run motive is to influence income growth of the countries. The empirical findings so far are skeptical on the …-run dynamics among R&D spending, number of patents and per capita income growth in the panel of countries and groups for the period … income growth have no long-run equilibrium relations but in the short-run, income growth and number of patents make a cause …
Persistent link: https://www.econbiz.de/10012294665
This paper investigates the relationship between competition law and income inequality using ‎panel data techniques for … ‎levels of income and wage inequality. A country's level of development, its membership of ‎geographic competition law network … and the metric used to capture inequality (e.g., income or ‎wages) appear to affect the nature and strength of the …
Persistent link: https://www.econbiz.de/10012848956
, according to the consumption-led-growth theory, economic growth will be hindered. The panel data sample covers for the period …
Persistent link: https://www.econbiz.de/10013149598
The relationship between income inequality and polarization is an empirical fact: a change in equality might occur … together with a change in polarization. At the same time, polarization might emerge while inequality remains constant. The …
Persistent link: https://www.econbiz.de/10010471715
. We put forward two meso-level interpretations of these stylized facts, based on heterodox growth theory: The log …-normality of the individual clusters hints at a stochastically multiplicative process, where growth is strongly path … two separate growth mechanisms. We show that the high-variance log-normal distribution governs the dy- namics at both …
Persistent link: https://www.econbiz.de/10013256531
societal income inequality, poverty, polarization and societal segmentation are examined. What emerges for the Eurozone as an … entity is a four-class, increasingly unequal polarizing structure with income growth in all four classes. With regard to … behaviour. However, in the face of increasing overall Eurozone inequality, constituent nations were becoming increasingly …
Persistent link: https://www.econbiz.de/10011823306