Perpetual property rights to land, structures, corporations and money allows investors to be overpaid to create inefficiencies and inequities in a way not measured by accountants and little noticed by economists. All intellectual property rights have limited life. Most assets depreciate over...

In recent decades, most developed countries have experienced a simultaneous increase in income inequality and management compensation. In this paper, we study the relation between management compensation and firm-level income dynamics in a general equilibrium model. Empirical estimation, of the...

This paper evaluates the impact of education on measured inequality across the wage distribution using pooled records from the 2005 and 2010 Cameroon labour force surveys, wage equations and standard inequality measures. Returns to education increased monotonically. Yet incremental returns were...