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This paper is about “Capital in the Twenty-first Century” by Thomas Piketty. It identifies his central macroeconomic claims and examines them, arguing that the contentions are theoretically and empirically unwarranted.
Persistent link: https://www.econbiz.de/10010349913
While standard political economy theories suggest a moderating effect of democratization on income inequality … income groups, hence democratization may have only a negligible effect on inequality. On the other hand, in societies where …
Persistent link: https://www.econbiz.de/10011397917
in GNP per head. At the same time, a micro literature has typically found positive correlations between individual income … presence of relative income terms in the utility function. Income may be evaluated relative to others (social comparison) or to … oneself in the past (habituation). We review the evidence on relative income from the subjective well-being literature. We …
Persistent link: https://www.econbiz.de/10013316988
household surveys by combining information on income shares from household surveys and top income shares from tax data. The … methodology relies on a flexible parametric functional form that models the income distribution for each country-year point under … and 42 per cent, depending on the period of analysis, and the assumed level of truncation of the income distribution. …
Persistent link: https://www.econbiz.de/10011525394
household surveys by combining information on income shares from household surveys and top income shares from tax data. The … methodology relies on a flexible parametric functional form that models the income distribution for each country-year point under … per cent, depending on the period of analysis, and the assumed level of truncation of the income distribution …
Persistent link: https://www.econbiz.de/10012942875
The deterioration of income inequality is frequently to be found among the suggested negative side-effects of … the changes at the various dimensions of income inequality. It is those two fields that form the basis of the research … positive and negative effects on income inequality …
Persistent link: https://www.econbiz.de/10012853398
We examine the relationship between income and health with the purpose of establishing the extent to which the … distribution of health in a population contributes to income inequality and is itself a product of that inequality. The evidence … supports a significant and substantial impact of ill-health on income mainly operating through employment, although it is …
Persistent link: https://www.econbiz.de/10010224791
Since globalisation accelerated in the early 1990s, income inequality has increased in most developed countries and in … some middle-income countries, including China and India. Also, inequality has declined in most countries of Latin America … neoclassical models of convergence that predict that, in the long-run, income distribution will tend to converge across countries …
Persistent link: https://www.econbiz.de/10013462042
rights simultaneously raises growth rates and reduces income inequality. We interpret these findings as evidence that …
Persistent link: https://www.econbiz.de/10014215776
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 … classes explains 70% of absolute global market inequality. Additional findings are that absolute income convergence between …
Persistent link: https://www.econbiz.de/10013025513