Following the Great Recession, many European countries implemented fiscal consolidation policies aimed at reducing government debt. Using three independent data sources and three different empirical approaches, we document a strong positive relationship between higher income inequality and...

"Much as I hate to spoil my story by announcing its plot in advance, this paper is too long and involved to be clear otherwise. It deals with growth of investment and of capital stock subject to depreciation and periodic replacement. " E. Domar The above citation is taken from a piece,...