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We study how monetary policy affects the asymmetric effects of globalization. To this end, we build an open-economy heterogeneous-agent New Keynesian model (HANK), in which households differ in their income, wealth, and real and financial integration with international markets. We use the model...
Persistent link: https://www.econbiz.de/10012482432
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The distribution of human capital and income lies at the center of a nexus of forces that shape a country's economic, institutional and technological structure. I develop here a unified model to analyze these interactions and their growth consequences. Five main issues are addressed. First, I...
Persistent link: https://www.econbiz.de/10012468322
This paper constructs a simple model of pair-wise tournament competition to investigate categorical redistribution in … winner-take-all markets. We consider two forms of redistribution: category-sighted, where employers are allowed to use … equilibrium category-sighted redistribution scheme involves a constant handicap given to agents in the disadvantaged category …
Persistent link: https://www.econbiz.de/10012468590
inequality. Our theory formalizes as well as modifies Linder's conjecture about the relationship between intraindustry trade and …
Persistent link: https://www.econbiz.de/10012468607
should be provided, determining how the provision of public goods affects the desirability of income redistribution, and …
Persistent link: https://www.econbiz.de/10012468856
attendance, labor supply, wage determination, and aggregate production, which is used to compare alternative redistribution …
Persistent link: https://www.econbiz.de/10012470128
Persistent link: https://www.econbiz.de/10012404568
the second carries out a comprehensive assessment of income redistribution through taxes and transfers across OECD …
Persistent link: https://www.econbiz.de/10012415373
Persistent link: https://www.econbiz.de/10012415652