Using the Kuznets inverted-U-shaped association as a structural constraint, we model the social tradeoff between changing inequality and changing income. If observed outcomes for recent decades are taken as constrained political-economic optima, this model identifies the parameters of a social...

This study uses a production function approach to identify the impact of student, parent, teacher, and school policy variables on student performance as measured by test scores. Our statistical analysis is conducted in a comparative institutional context that includes government, private, and...

Carlin and Soskice (2005) advocate a 3-equation model of stabilization policy, the IS-PC-MR model. Their third equation is the monetary reaction rule MR derived by assuming that governments have performance objectives, but are constrained by an augmented Phillips curve PC. Central banks achieve...

Carlin and Soskice (2005) advocate a 3-equation model of stabilization policy. One equation is a monetary reaction rule MR derived by assuming that governments have performance objectives, but are constrained by a Phillips curve PC. Central banks attempt to implement these objectives by setting...

A standard model of activist macroeconomic policy derives a monetary reaction rule by assuming that governments have performance objectives, but are constrained by an augmented Phillips curve. In addition to monetary policy governments apply a variety of instruments to influence inflation and...

We explore four decades of cyclical and long-run dynamics in income distribution and economic activity for a panel of thirteen OECD countries. Based on predator-prey dynamics, we find that the business cycle is weakly profit-led , and that the long-run equilibrium has been shifting towards a...

We explore four decades of cyclical and long-run dynamics in income distribution and economic activity for a panel of thirteen OECD countries, as measured by the wage share and the output gap. When modeled as a Goodwin model, our results suggest that economic activity is weakly profit-led and...