The way the results of the human activity are measured has been and still is a major theoretical and practical concern of the economic world. In this article we are particularly interested in analyzing the circumstances that provide a real image for the economic results at macroeconomic level....

This paper provides an assessment of how households’ income has fared compared with GDP. While the prime focus is on incomes around the median, attention is paid also to the bottom of the income distribution. Thus, one contribution of the paper is to deliver a fresh assessment of the evolution...

This paper investigates the channels through which the middle class may matter for consumption growth and development. Determinants of the size and the growth of the middle class are also examined. Using several different middle class measures and a panel of 72 developing countries spanning the...

The world is searching for a new socioeconomic development paradigm, which is sometimes referred to as the “new reality.” Judging by the previous structural crises (in the 1930s and 1970s), this search takes about a decade characterized by volatile economic trends, political crises, and...