Reinterpreting within-country inequality -- High and low inequality as historical equilibria -- High inequality, low inequality and creative destruction -- The distribution of income between nations as a high inequality equilibrium (HIE) -- Global stratification and the three paths of social...

In this paper, we consider the dynamic features of house price in metropolises that are characterised by a high degree of internationalisation. Using a generalised smooth transition (GSTAR) model we show that the dynamic symmetry in house price cycles is strongly rejected for the housing markets...