Author : Lance Taylor
Publisher : Cambridge University Press
Page : 145 pages
File Size : 22,11 MB
Release : 2020-08-20
Category : Business & Economics
ISBN : 1108494633
An innovative approach to measuring inequality providing the first full integration of distributional and macro level data for the US.
Author : Ms.Era Dabla-Norris
Publisher : International Monetary Fund
Page : 39 pages
File Size : 34,11 MB
Release : 2015-06-15
Category : Business & Economics
ISBN : 1513547437
This paper analyzes the extent of income inequality from a global perspective, its drivers, and what to do about it. The drivers of inequality vary widely amongst countries, with some common drivers being the skill premium associated with technical change and globalization, weakening protection for labor, and lack of financial inclusion in developing countries. We find that increasing the income share of the poor and the middle class actually increases growth while a rising income share of the top 20 percent results in lower growth—that is, when the rich get richer, benefits do not trickle down. This suggests that policies need to be country specific but should focus on raising the income share of the poor, and ensuring there is no hollowing out of the middle class. To tackle inequality, financial inclusion is imperative in emerging and developing countries while in advanced economies, policies should focus on raising human capital and skills and making tax systems more progressive.
Author : Mr.Ayhan Kose
Publisher : International Monetary Fund
Page : 51 pages
File Size : 33,9 MB
Release : 2008-06-01
Category : Business & Economics
ISBN : 1451870019
This paper analyzes the evolution of the degree of global cyclical interdependence over the period 1960-2005. We categorize the 106 countries in our sample into three groups-industrial countries, emerging markets, and other developing economies. Using a dynamic factor model, we then decompose macroeconomic fluctuations in key macroeconomic aggregates-output, consumption, and investment-into different factors. These are: (i) a global factor, which picks up fluctuations that are common across all variables and countries; (ii) three group-specific factors, which capture fluctuations that are common to all variables and all countries within each group of countries; (iii) country factors, which are common across all aggregates in a given country; and (iv) idiosyncratic factors specific to each time series. Our main result is that, during the period of globalization (1985-2005), there has been some convergence of business cycle fluctuations among the group of industrial economies and among the group of emerging market economies. Surprisingly, there has been a concomitant decline in the relative importance of the global factor. In other words, there is evidence of business cycle convergence within each of these two groups of countries but divergence (or decoupling) between them.
Author : Ms.Valerie Cerra
Publisher : International Monetary Fund
Page : 50 pages
File Size : 41,62 MB
Release : 2020-05-29
Category : Business & Economics
ISBN : 1513536990
Traditionally, economic growth and business cycles have been treated independently. However, the dependence of GDP levels on its history of shocks, what economists refer to as “hysteresis,” argues for unifying the analysis of growth and cycles. In this paper, we review the recent empirical and theoretical literature that motivate this paradigm shift. The renewed interest in hysteresis has been sparked by the persistence of the Global Financial Crisis and fears of a slow recovery from the Covid-19 crisis. The findings of the recent literature have far-reaching conceptual and policy implications. In recessions, monetary and fiscal policies need to be more active to avoid the permanent scars of a downturn. And in good times, running a high-pressure economy could have permanent positive effects.
Author : Ms. Valerie Cerra
Publisher : International Monetary Fund
Page : 54 pages
File Size : 29,24 MB
Release : 2021-03-12
Category : Business & Economics
ISBN : 1513572660
Is there a tradeoff between raising growth and reducing inequality and poverty? This paper reviews the theoretical and empirical literature on the complex links between growth, inequality, and poverty, with causation going in both directions. The evidence suggests that growth can be effective in reducing poverty, but its impact on inequality is ambiguous and depends on the underlying sources of growth. The impact of poverty and inequality on growth is likewise ambiguous, as several channels mediate the relationship. But most plausible mechanisms suggest that poverty and inequality reduce growth, at least in the long run. Policies play a role in shaping these relationships and those designed to improve equality of opportunity can simultaneously improve inclusiveness and growth.
Author : Daniele Besomi
Publisher : Routledge
Page : 705 pages
File Size : 43,88 MB
Release : 2013-03-01
Category : Business & Economics
ISBN : 1136722904
This book aims at investigating from the perspective of the major economic dictionaries the notions of economic crisis and cycle. The project consists in giving an extensive summary of a number of significant entries on this subject, with an introductory essay to each entry placing them (and the dictionary to which they belong) in their context, giving some details on the author of the dictionary entry, and assessing the entry’s (and its author’s) contribution. The broad picture (including the history of these encyclopedic tools) will be examined in the introductory essays.
Author : Richard Hemming
Publisher : International Monetary Fund
Page : 62 pages
File Size : 11,20 MB
Release : 2002-12
Category : Business & Economics
ISBN :
This paper reviews the theoretical and empirical literature on the effectiveness of fiscal policy. The focus is on the size of fiscal multipliers, and on the possibility that multipliers can turn negative (i.e., that fiscal contractions can be expansionary). The paper concludes that fiscal multipliers are overwhelmingly positive but small. However, there is some evidence of negative fiscal multipliers.
Author : Arkadiusz Sieroń
Publisher : Routledge
Page : 185 pages
File Size : 36,58 MB
Release : 2019-02-04
Category : Business & Economics
ISBN : 0429657285
Who would disagree that money matters? Economists have yet to sufficiently explore issues related to monetary inflation in relation to the Cantillon effect, i.e. distribution and price effects resulting from uneven changes in the money supply and their impact on the economy. This book fills this important gap in the existing literature. The author classifies the various channels through which new money can be injected into the economy and demonstrates that it is not only the increase in money supply that is important, but also the way in which it occurs. Since the increase in money supply does not affect the cash balance of all economic entities in the same proportion and at the same time – new money is introduced into the economy through specific channels – a distribution of income and changes in the structure of relative prices and production occur. The study of money supply growth, carried out in the spirit of Richard Cantillon, offers an important analytical framework that facilitates the development of a number of sub-disciplines within economics and provides a better understanding of many economic processes. It significantly explores the theory of money and inflation, the business cycle and price bubbles, but also the theory of banking and central banking, income distribution, income and wealth inequalities, and the theory of public choice. This book is therefore an important voice in the fundamental debate on the role of monetary factors in the economy, as well as on the effects and legitimacy of a loose monetary policy. In 2017, the doctoral dissertation on which the book is based was awarded the Polish Prime Minister’s prize. In these times of non-standard monetary policy and rising income inequalities in OECD countries, the focus on the distribution effect of monetary inflation makes this a must read for researchers and policy-makers and for anyone working in monetary economics. This title was translated from Polish by Martin Turnau.
Author : National Academies of Sciences, Engineering, and Medicine
Publisher : National Academies Press
Page : 583 pages
File Size : 10,3 MB
Release : 2017-04-27
Category : Medical
ISBN : 0309452961
In the United States, some populations suffer from far greater disparities in health than others. Those disparities are caused not only by fundamental differences in health status across segments of the population, but also because of inequities in factors that impact health status, so-called determinants of health. Only part of an individual's health status depends on his or her behavior and choice; community-wide problems like poverty, unemployment, poor education, inadequate housing, poor public transportation, interpersonal violence, and decaying neighborhoods also contribute to health inequities, as well as the historic and ongoing interplay of structures, policies, and norms that shape lives. When these factors are not optimal in a community, it does not mean they are intractable: such inequities can be mitigated by social policies that can shape health in powerful ways. Communities in Action: Pathways to Health Equity seeks to delineate the causes of and the solutions to health inequities in the United States. This report focuses on what communities can do to promote health equity, what actions are needed by the many and varied stakeholders that are part of communities or support them, as well as the root causes and structural barriers that need to be overcome.
Author : M. Stelzner
Publisher : Springer
Page : 176 pages
File Size : 14,56 MB
Release : 2015-01-23
Category : Political Science
ISBN : 1137388110
The income share of the top one percent of the population in the United States has increased from a little over nine percent of national income in the 1970s to 22.46 percent in 2012 a 144 percent increase. What is driving this astronomic growth in incomes for some? Is it possibly the result of non-meritorious forces? If so, how has this incredibly unequal development coexisted, and indeed worsened, in a political system based on equality? In Economic Inequality and Policy Control in the United States, Stelzner tackles each of these questions, and, in order to further develop understanding, Stelzner looks to the past and analyzes our experience with income inequality and the orientation of laws and institutions from the Gilded Age through the New and Fair Deal. He concludes that we have the tools to tackle inequality at present the same policies we used during the New and Fair Deal. However, in order to make change durable, we have to eliminate the undemocratic elements of our political system.
