Narrow search
Showing 1 - 10 of 15,621
Cover Image
Income shares, secular stagnation, and the long-run distribution of wealth
Petach, Luke; Tavani, Daniele - 2018
Pasinetti (1962) approach to differential saving propensities among classes with the theory of induced technical change (ITC) by …
Persistent link: https://www.econbiz.de/10011926938
Cover Image
Growth and Welfare Implications of Mortality Differentials in Unfunded Social Security Systems
Kelly, Mark - 2021
Several recent studies have examined the steady-state welfare implications of mortality differentials within unfunded Social Security systems, concluding that these differentials undermine the progressivity of the system and make society worse-off relative to alternative public pension schemes....
Persistent link: https://www.econbiz.de/10013217547
Cover Image
Inflation risk and the finance-growth nexus
Corhay, Alexandre; Tong, Jincheng - 2021
This paper shows that the effect of inflation on asset prices and real aggregates depends on the financial … inflation lead to a wealth transfer across sectors. Higher inflation decreases firms' real liabilities and default risk, which … theoretically that the ultimate effect of inflation depends on the tightness of financing constraints in the intermediation sector …
Persistent link: https://www.econbiz.de/10012595351
Cover Image
Adult learning, economic growth and the distribution of income
Stauvermann, Peter; Kumar, Ronald Ravinesh - In: Economies : open access journal 6 (2018) 1, pp. 1-12
Technological change causes three consequences: it guarantees economic growth, it requires employees to acquire more skills and human capital, and it increases inequality if employees are not capable adapting to new technologies. The second consequence makes it almost necessary for employees to...
Persistent link: https://www.econbiz.de/10011849808
Cover Image
Demography, growth, and inequality
Mierau, Jochen O.; Turnovsky, Stephen J. - In: Economic theory : official journal of the Society for … 55 (2014) 1, pp. 29-68
Persistent link: https://www.econbiz.de/10010235922
Cover Image
On the macroeconomic and distributional effects of federal estate tax reforms in the United States
Van Rymenant, Pieter; Heylen, Freddy; Van de Gaer, Dirk - 2022
Persistent link: https://www.econbiz.de/10013410996
Cover Image
Government Financing in an Endogenous Growth Model with Financial Market Restrictions
Espinosa-Vega, Marco A.; Yip, Chong Kee - 2014
intermediaries to examine the effects of alternative government financing schemes on growth, inflation, and welfare. We find that in … tax base by means of an increase in the reserve requirement retards growth and has an ambiguous effect on inflation. An … increase in income tax?financed government spending also suppresses growth and raises inflation although not to the extent that …
Persistent link: https://www.econbiz.de/10014048929
Cover Image
Bubbles in a Secular Stagnation Economy
Lu, Jason - 2017
The global fall in interest rates in recent decades has raised the possibility of a negative natural rate of interest. The secular stagnation hypothesis argues that a negative natural rate of interest is the underlying cause of the Great Recession. In this paper I demonstrate the role of bubbles...
Persistent link: https://www.econbiz.de/10012960801
Cover Image
Financial Intermediaries, Markets and Growth
Fecht, Falko - 2016
We build a model in which financial intermediaries provide insurance to households against a liquidity shock. Households can also invest directly on a financial market if they pay a cost. In equilibrium, the ability of intermediaries to share risk is constrained by the market. This can be...
Persistent link: https://www.econbiz.de/10012991332
Cover Image
Financial Intermediaries, Markets, and Growth
Fecht, Falko; Huang, Kevin X. D.; Martin, Antoine - 2019
In many models of financial intermediation, markets reduce welfare because they limit the amount of risk-sharing intermediaries can offer. In this paper we study a model in which markets also promote investment in a productive technology. A trade-off between risk sharing and growth arises...
Persistent link: https://www.econbiz.de/10014070836