In contemporary non-mainstream economic debate, it is widely thought that the functioning of a market economy needs a set of rules (i.e. institutions) which bind agents in their behaviour, allowing efficient outcomes. This idea is contrary to the General Equilibrium Model (GEM) where markets are...

This paper develops a matching framework of offshoring in which offshoring is defined as cross-country matching between workers and managers with complementary production technology. We study the distributional effects of offshoring by embedding the matching framework in a two-country, two-task...

Tension is growing between the interests of part of the middle classes that are in decline in the mature economies and the rising ones in emerging markets. The aim of the public policies proposed in this paper is to impede such a clash by avoiding protectionism and de-globalisation, fostering...

Tension is growing between the interests of the middle classes that are in decline in the mature economies and the rising ones in emerging markets. The aim of the public policies proposed in this paper is to impede such a clash by not threatening de-globalisation, avoiding protectionism,...

Income households’ share of national income has grown dramatically since 1970 while the bottom 80 percent has seen their share decline. This paper examines economic, social, and demographic changes that almost assure that the income would be increasingly concentrated at the top. Occupations...

This Article presents an original empirical analysis demonstrating that low-income families experience far greater income fluctuations than higher-income families and, as a result, taxation of annual income disproportionately burdens low-income families. The author proposes two simple income...