Africa has come a long way since the economic turmoil of the 1980s, the decade of "structural adjustment". Growth has been strong, yet poverty remains high. Underlying the shortage of good livelihoods and high social inequality is the lack of diversification in Africa's economies-in contrast to...

This paper explores the use of an intertemporal job-search model in the investigation of within-cohort and between-cohort income inequality, the latter being generated by the heterogeneity of time preferences among cohorts of homogenous workers and the former by the cross-sectional turnover in...

I construct a unified macroeconomic framework by incorporating frictional markets in a neoclassical environment. This framework is analytically tractable despite search frictions, income risks and endogenous money distributions. I use this framework to formalize a theory that the variety and the...

This paper examines the relationship between inequality and growth in the neo-Kaleckian and Cambridge growth models. The paper explores the channels whereby functional and personal income distribution impact growth. The growth - inequality relationship can be negative or positive, depending on...

We study competitive search in goods markets in a heterogeneous-agent monetary model. The model accounts for three stylized facts connecting inflation to consumption inequality, to price dispersion, and to the speed of monetary payments. With competitive search, individuals’ endogenous...

This paper develops a foundation for a consumer's preference for data privacy by linking it to the desire to hide behavioral vulnerabilities. Data sharing with digital platforms enhances the matching efficiency for standard consumption goods, but also exposes individuals with self-control issues...

I study a model where Information Technology, while typically increasing overall inequality, is likely to harm some people at intermediate and high levels of the distribution of income but to benefit people at the bottom. Within a given occupation it may harm some workers while benefitting...

I study a model where Information Technology, while typically increasing overall inequality, is likely to harm some people at intermediate and high levels of the distribution of income but to benefit people at the bottom. Within a given occupation it may harm some workers while benefitting...

Thailand’s economic development has been quite successful in terms of achieving high growth rate and reasonable per capita income. The country’s economic performance in terms of the transformation of production and exports are tending toward the normal pattern of increasing share of...

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...