The HDI has spawned an extensive academic literature which has considered its properties, provided critiques and suggested potential improvements. With the occasion of the twentieth anniversary of the report, the authors of the Report undertook a comprehensive revision of these critiques and...

We study episodes where economic growth decelerates to negative rates. While the majority of these episodes are of short duration, a substantial fraction last for a longer period of time than can be explained as the result of business-cycle dynamics. The duration, depth and associated output...

This paper presents a non-median voter model of redistribution in which greater inequality leads to lower redistribution. Bargaining between interest groups and politicians over exemptions implies that individuals with sufficiently high income will not pay taxes in equilibrium. Therefore, voters...