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Author: L. Athanassiou
Publisher: Upfront Publishing
ISBN: 9781844261543
Category : Business & Economics
Languages : en
Pages : 120
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Book Description
Modern economics tends to shy away from issues which do not offer themselves to the kind of treatment considered appropriate, which pertain to the less neatly rational aspects of economic life and which at the same time carry an active load of socio-economic implications. The processes of the distribution and redistribution of income and the ways in which they may affect the working of the economy, the focus of this book, constitute such a topic, as yet not fully worked into the main body of economic doctrine.In many cases a powerful formative influence upon economic realities is the pressures exercised by groups, individuals, associations etc. through means fair and foul, with the purpose of increasing their distributive and redistributive share in output. By sorting such pressures out and weaving them into the fabric of established economic analysis, this book demonstrates, among other things, that rival theories claiming the economic truth (such as Keynesianism, monetarism, etc.) far from being mutually exclusive, constitute complementary building blocks in a more comprehensive scheme.This is a provocative book, argued on the level of the core of economic theory and logic, appealing to common sense, expressed in direct language, stripped of all unnecessary technicality and comprehensible to anybody with a good understanding of general economic principles
Author: L. Athanassiou
Publisher: Upfront Publishing
ISBN: 9781844261543
Category : Business & Economics
Languages : en
Pages : 120
Get Book Here
Book Description
Modern economics tends to shy away from issues which do not offer themselves to the kind of treatment considered appropriate, which pertain to the less neatly rational aspects of economic life and which at the same time carry an active load of socio-economic implications. The processes of the distribution and redistribution of income and the ways in which they may affect the working of the economy, the focus of this book, constitute such a topic, as yet not fully worked into the main body of economic doctrine.In many cases a powerful formative influence upon economic realities is the pressures exercised by groups, individuals, associations etc. through means fair and foul, with the purpose of increasing their distributive and redistributive share in output. By sorting such pressures out and weaving them into the fabric of established economic analysis, this book demonstrates, among other things, that rival theories claiming the economic truth (such as Keynesianism, monetarism, etc.) far from being mutually exclusive, constitute complementary building blocks in a more comprehensive scheme.This is a provocative book, argued on the level of the core of economic theory and logic, appealing to common sense, expressed in direct language, stripped of all unnecessary technicality and comprehensible to anybody with a good understanding of general economic principles
Author: David Pothier
Publisher: International Monetary Fund
ISBN: 1498300987
Category : Business & Economics
Languages : en
Pages : 50
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Book Description
This paper highlights how changes in the composition of demand affect income dispersion in the short run. We first document how the share of aggregate spending dedicated to labour-intensive goods and services shrinks (expands) during downturns (booms), and argue that this contributes to the observed pro-cyclicality of employment and output in labour-intensive industries. Using a two-sector general equilibrium model, we then assess how this demand composition channel influences the cyclical properties of the income distribution. Consistent with empirical evidence, we find income inequality to be countercyclical due to changes in the level of employment and (to a lesser extent) relative factor prices. The model also shows that wealth redistribution policies can potentially involve a trade-off between equality and output, depending on how they affect the composition of aggregate demand.
Author: Mr.Jonathan David Ostry
Publisher: International Monetary Fund
ISBN: 1484397657
Category : Business & Economics
Languages : en
Pages : 30
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Book Description
The Fund has recognized in recent years that one cannot separate issues of economic growth and stability on one hand and equality on the other. Indeed, there is a strong case for considering inequality and an inability to sustain economic growth as two sides of the same coin. Central to the Fund’s mandate is providing advice that will enable members’ economies to grow on a sustained basis. But the Fund has rightly been cautious about recommending the use of redistributive policies given that such policies may themselves undercut economic efficiency and the prospects for sustained growth (the so-called “leaky bucket” hypothesis written about by the famous Yale economist Arthur Okun in the 1970s). This SDN follows up the previous SDN on inequality and growth by focusing on the role of redistribution. It finds that, from the perspective of the best available macroeconomic data, there is not a lot of evidence that redistribution has in fact undercut economic growth (except in extreme cases). One should be careful not to assume therefore—as Okun and others have—that there is a big tradeoff between redistribution and growth. The best available macroeconomic data do not support such a conclusion.
Author: Hollis Burnley Chenery
Publisher:
ISBN:
Category : Social Science
Languages : en
Pages : 338
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Book Description
Author: Giuseppe Bertola
Publisher: Princeton University Press
ISBN: 1400865093
Category : Business & Economics
Languages : en
Pages : 440
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Book Description
This book looks at the distribution of income and wealth and the effects that this has on the macroeconomy, and vice versa. Is a more equal distribution of income beneficial or harmful for macroeconomic growth, and how does the distribution of wealth evolve in a market economy? Taking stock of results and methods developed in the context of the 1990s revival of growth theory, the authors focus on capital accumulation and long-run growth. They show how rigorous, optimization-based technical tools can be applied, beyond the representative-agent framework of analysis, to account for realistic market imperfections and for political-economic interactions. The treatment is thorough, yet accessible to students and nonspecialist economists, and it offers specialist readers a wide-ranging and innovative treatment of an increasingly important research field. The book follows a single analytical thread through a series of different growth models, allowing readers to appreciate their structure and crucial assumptions. This is particularly useful at a time when the literature on income distribution and growth has developed quickly and in several different directions, becoming difficult to overview.
Author: John Maynard Keynes
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
Author: Ms.Era Dabla-Norris
Publisher: International Monetary Fund
ISBN: 1513547437
Category : Business & Economics
Languages : en
Pages : 39
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Book Description
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: Theo S. Eicher
Publisher: MIT Press
ISBN: 0262550644
Category : Business & Economics
Languages : en
Pages : 343
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Book Description
Even minute increases in a country's growth rate can result in dramatic changes in living standards over just one generation. The benefits of growth, however, may not be shared equally. Some may gain less than others, and a fraction of the population may actually be disadvantaged. Recent economic research has found both positive and negative relationships between growth and inequality across nations. The questions raised by these results include: What is the impact on inequality of policies designed to foster growth? Does inequality by itself facilitate or detract from economic growth, and does it amplify or diminish policy effectiveness? This book provides a forum for economists to examine the theoretical, empirical, and policy issues involved in the relationship between growth and inequality. The aim is to develop a framework for determining the role of public policy in enhancing both growth and equality. The diverse range of topics, examined in both developed and developing countries, includes natural resources, taxation, fertility, redistribution, technological change, transition, labor markets, and education. A theme common to all the essays is the importance of education in reducing inequality and increasing growth.
Author: National Council on Economic Education
Publisher: Council for Economic Educat
ISBN: 9781561834334
Category : Business & Economics
Languages : en
Pages : 122
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Book Description
This essential guide for curriculum developers, administrators, teachers, and education and economics professors, the standards were developed to provide a framework and benchmarks for the teaching of economics to our nation's children.
Author: Engelbert Stockhammer
Publisher: Springer
ISBN: 1137357932
Category : Business & Economics
Languages : en
Pages : 329
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Book Description
This volume seeks to go beyond the microeconomic view of wages as a cost having negative consequences on a given firm, to consider the positive macroeconomic dynamics associated with wages as a major component of aggregate demand.
