Following a methodology proposed by Jantzen and Volpert (2012), we use IRS Adjusted Gross Income (AGI) data for the United States (1921-2012) to estimate two Gini-like indices representing inequality at the bottom and the top of the income distribution. We also calculate the overall Gini index...

In our paper, "A Tale of Two Ginis" (Schneider and Tavani, 2016), we presented estimates for two indices of inequality for inequality at the top and the bottom of income distribution based on Jantzen and Volpert (2012). The estimates of the Gini for the bottom of the distribution were based on a...

We study a series of growth models in which households' preferences display `jealousy' or `external habits': a negative dependence on average consumption. We argue that accounting for consumption externalities in growth models requires consideration of both their static and dynamic effects. In a...

This paper surveys current debates on the distributive cycle. The literature builds on R.M. Goodwin's seminal 1967 chapter titled "A growth cycle." We review theoretical motivations for the distributive cycle, which, despite significant differences, all imply that macroeconomic activity leads...

This paper consider both secular and medium run trends to argue that the US economy was vulnerable to shocks already before the COVID-19 crisis. Long-run trends have shown a pattern of secular stagnation and increasing inequality since the 1980s, while the economy has displayed hysteresis during...

This paper surveys current debates on the distributive cycle. The literature builds on R.M. Goodwin's seminal 1967 chapter titled "A growth cycle." We review theoretical motivations for the distributive cycle, which, despite significant differences, all imply that macroeconomic activity leads...