Previous work has established that an appreciation of the real exchange rate (REER) contributes to premature deindustrialization, less productive investment and dependence on commodity booms and busts in emerging markets economies (EME). From the previous literature, it is less clear however...

This paper is the first to decompose absolute global income inequality into its within-country class and between country-location components. The estimates show that until 1970 locational income differences were the main driver of absolute global inequality, whereas its recent growth can be...

Rising income inequality has recently moved into the centre of political and economic debates in line with increasing claims that a global rise in income inequality might have been a root cause of the subprime crisis. This paper provides an extensive overview of world scale developments in...

This paper compares changes in relative and absolute wealth concentrations to establish if both processes have followed similar trajectories. The findings indicate that while the level of relative wealth concentration has increased recently, it is not extraordinarily high in an historical...