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We introduce permanently-shifting income shares into a standard growth model with two types of agents. Capital owners represent the top quintile of U.S. households while workers represent the remainder. Our tractable model allows us to exactly replicate the observed U.S. time paths of the top...
Persistent link: https://www.econbiz.de/10011343080
generates small welfare gains. As the price of robots falls, inequality rises but the robot tax and its welfare impact become …
Persistent link: https://www.econbiz.de/10011926330
are analogous to the widely-used decompositions of inequality indices by population subgroup, except that they summarize … are not dependent on the choice of a specific summary index. Nonetheless, since inequality and poverty indices can be …
Persistent link: https://www.econbiz.de/10010276944
Preserving environmental quality and addressing economic inequality both feature prominently in public discourse … consider interactions with the other. We synthesize theoretical mechanisms that underpin inequality-environment interlinkages … distribution of environmental amenities and dis-amenities is associated with income and wealth, second, how economic inequality …
Persistent link: https://www.econbiz.de/10012694139
This paper investigates a new approach to understanding personal and functional income distribution. I propose that hierarchical power - the command of subordinates in a hierarchy - is what distinguishes the rich from the poor and capitalists from workers. Specifically, I hypothesize that...
Persistent link: https://www.econbiz.de/10012127049
What accounts for the growth of US top income inequality? This paper proposes a hierarchical redistribution hypothesis …
Persistent link: https://www.econbiz.de/10011880804
This paper offers a new approach to the study of capitalist income. Building on the "capital as power" framework, I propose that capitalists earn their income not from any productive asset, but from the legal right to command a corporate hierarchy. In short, I hypothesize that capitalist income...
Persistent link: https://www.econbiz.de/10011888765
What makes the rich different? Are they more productive, as mainstream economists claim? I offer another explanation. What makes the rich different, I propose, is hierarchical power. The rich command hierarchies. The poor do not. It is this greater control over subordinates, I hypothesize, that...
Persistent link: https://www.econbiz.de/10011994821
Persistent link: https://www.econbiz.de/10012655244
We apply the Kakwani approach to decomposing redistributive effect into average rate, progressivity, and reranking components using yearly UK data covering 1977-2018. We examine cash and in-kind benefits, and direct and indirect taxes. In addition, we highlight an empirical implementation issue...
Persistent link: https://www.econbiz.de/10012697297