When income inequality increases when average income levels increase, rises in average income levels might result in inequality costs. This paper develops marginal social welfare measures that account for the possibility that income inequality changes when average income levels change....

We propose a twin family model linking twins with their spouses and children to quantify the relative importance of genetic and environmental factors in explaining the variance of socio-economic outcomes. Using data from the Danish Twins Registry and population registers, we test and relax the...

Every three years, the Federal Reserve System conducts the Survey of Consumer Finances (SCF)-one of the most detailed examinations of household wealth in the U.S. The two most recent surveys were conducted in 2019 and 2022, thus providing a valuable resource to researchers exploring wealth...

The Covid-19 pandemic has accelerated trends in automation as many employers seek to save on labor costs amid widespread illness, increased worker leverage, and market pressures to onshore supply chains. While existing research has explored how automation may displace nonspecialized jobs, there...

This paper examines the impact of education and labour market challenges on the income inequality in European Union (27 Member States) within the period 2012-2022, this being calculated using the Panel EGLS method. Even if the effects are clearly visible from a theoretical point of view, in the...

In diesem Beitrag wird der Zusammenhang zwischen Einkommensungleichheit und Beschäftigungswachstum untersucht. Dabei zeigt sich, dass in Ländern, die über längere Zeit hinweg eine größere Einkommensungleichheit zuließen, auch eine Ausweitung von Beschäftigungsmöglichkeiten generiert...

In this lecture I first give an explanation for invidious preferences based on the (evolutionary) competition for resources. Then I show that these preferences have wide ranging and empirically relevant effects on labor markets, such as: workplace skill segregation, gradual promotions, wage...

Over the past decade and a half the ability of the employer-of-last-resort (ELR) proposal to deliver full employment and price stability has been discussed at length in the literature. A different issue has received relatively little attention - namely, the concern that even when the ELR...

This paper reviews the pattern of poverty rates and income inequality in El Salvador since the 1990s. It discusses some of the likely factors that explain the reduction in income inequality that has taken place in the country in the last decade, which paradoxically has coincided with the long...

The literature on public employment policies such as the job guarantee (JG) and the employer of last resort (ELR) often emphasizes their macroeconomic stabilization effects. But carefully designed and implemented policies like these can also have profound social transformative effects. In...