In modern societies, employment has not only economic functions, such as income creation, but also social functions, such as alleviating inequality or enhancing social stability (high unemployment threatens social stability). Since utilities stemming from the social functions of employment...

Recently, some influential empirical studies found evidence in favour of a negative relationship between income inequality and economic growth, implying the conclusion that inequality reducing policies will foster economic growth. The studies have in common that they all rely on the System GMM...

Inequality in metropolitan areas is part of a paradoxical triangle of competing motives overresources allocation. Chief among inequality/equity rivals is the penchant for urban economicdevelopment, but in recent decades, ecological sustainability has also become increasinglyimportant in this...

Income inequality has increased dramatically in the United States since the 1970s. However, we argue in this paper that many common perceptions about causes and consequences of rising inequality are misleading or even false. Using first-hand empirical analyses and meta-analyses of previously...

This paper provides a tool to build climate change scenarios to forecast Gross Domestic Product (GDP), modelling both GDP damage due to climate change and the GDP impact of mitigating measures. It adopts a supply-side, long-term view, with 2060 and 2100 horizons. It is a global projection tool...

This paper suggests that the weak empirical effect of human capital on growth in existing cross-country studies is partly the result of an inappropriate specification that does not account for the different channels through which human capital affects growth. A systematic replication of earlier...

Using a growth accounting framework, we find that developing Asia grew rapidly over the past 3 decades mainly due to robust growth in capital accumulation. The contributions of education and total factor productivity in the region's past economic growth remain relatively limited. Our baseline...

This paper suggests that the weak empirical effect of human capital on growth in existing cross-country studies is partly the result of an inappropriate specification that does not account for the different channels through which human capital affects growth. A systematic replication of earlier...

The economics literature identifies three effects of schooling on national income; the direct effect on the earnings of the workers who receive the schooling and the external effects on workers' earnings and on physical capital due to schooling's spillover effect on the productivity of these...

This paper investigates the effects of skill bias technical change at the frontier on the evolution of output and human capital in the adopting countries. The framework introduces a novel feature by connecting the direction of technology adoption to a sequential process of skill accumulation,...