Using weekly earnings data from Current Population Survey for Black and White Americans employed full time, we examine how disparities based on race stand relative to disparities between wage groups. We find that wage disparity between wage groups prevails significantly as compared to race wage...

We propose an extended version of Gini index defined on the set of infinite utility streams, $X=Y^\N$ where $Y\subset \R$.For $Y$ containing at most finitely many elements, the index satisfies the generalized Pigou-Dalton transfer principles in addition to the anonymity axiom

Given the complexity of interaction between inflation and inequality, we examine whether the impact of inflation on inequality differs among distinct levels of income inequality across the US states. Results reveal that there is a negative contemporaneous effect of inflation on the inequality...

This paper aims to clarify the relationship between monetary policy shocks and wage inequality. We emphasize the relevance of within and between wage group inequalities in explaining total wage inequality in the United States. Relying on the quarterly data for the period 2000-2020, our analysis...

We hypothesize that the role of education in driving wage inequality is not the same across three racial groups in the United States. Using the Current Population Survey (CPS) data for the period 2000-2021, we show that education weighs at most 33% in explaining the wage inequality. Further, we...

We consider a standard one-agent decision-making problem under risk and we address the following question: under what conditions is utility maximization equivalent to 'risk' minimization, where the measure of risk used by the decision-maker is a conservative coherent risk measure?

We propose generalized versions of strong equity and Pigou-Dalton transfer principle. We study the existence and the real valued representation of social welfare relations satisfying these two generalized equity principles. Our results characterize the restrictions on one period utility domains...

This paper studies the nature of social welfare orders on infinite utility streams, satisfying the efficiency principle known as Monotonicity and the consequentialist equity principle known as Strong Equity. It provides a complete characterization of domain sets for which there exists such a...

This paper studies the nature of social welfare orders on infinite utility streams, satisfying the consequentialist equity principles known as Hammond Equity and Pigou-Dalton transfer principle. The first result shows that every social welfare order satisfying Hammond Equity and the Strong...