While this paper emphasizes the analytical ambiguity of the relationship between savings and income inequality, the empirical examination renders weak support for a negative association between them. However, this relationship is not very robust. Subsamples of OECD countries and Asian countries...

This short paper uses a newly compiled cross-country panel data on income distribution to explore the impact of inflation on income distribution and economic growth. We have found that inflation (1) worsens income distribution; (2) increases the income share of the rich; (3) has a negative but...

This study incorporates heterogenous households into the Schumpeterian model with the spirit of capitalism (SOC) to study income inequality. The SOC is modeled as wealth entering the utility function. Our results are as follows. First, a stronger SOC decreases consumption inequality, whereas...