Sourcing foreign inputs to improve firm performance

Maria Bas, Vanessa Strauss-Kahn, 14 July 2014

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Should trade policy fight or promote imports of intermediate inputs? While several studies have shown the recent increase in imports of intermediate goods, their role in shaping domestic economies is not yet completely understood. Following the work of Feenstra and Hanson (1996), a large literature focuses on the impact of imported intermediate inputs on employment and inequality.

Topics: International trade
Tags: employment, exports, global value chains, imports, Inequality, Intermediate inputs, outsourcing, productivity, trade, wages

Institutions, trade shocks, and regional differences in long-run educational and development trajectories

André Carlos Martínez, Aldo Musacchio, Martina Viarengo , 9 July 2014

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Understanding the determinants of long-run socio-economic development is a major concern for academics and policymakers in many countries around the world.

Topics: Development, Economic history, Education
Tags: Brazil, colonialism, development, education, extractive institutions, growth, Inequality, institutions, trade shocks

Globalisation, job security, and wages

Kerem Cosar, Nezih Guner, James R Tybout, 7 July 2014

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How does increased openness to international trade affect workers’ wages and job security? This question is central to the public debate concerning the effects of globalisation, but convincing quantitative answers have been difficult to come by. One fundamental reason is that major trade liberalisation episodes have often coincided with labour reforms (Heckman and Pages 2004).

Topics: International trade, Labour markets
Tags: Colombia, exports, globalisation, Inequality, job security, labour market reforms, productivity, trade liberalisation, unemployment, wages

Capital is not back: A comment on Thomas Piketty’s ‘Capital in the 21st Century’

Odran Bonnet, Pierre-Henri Bono, Guillaume Camille Chapelle, Étienne Wasmer, 30 June 2014

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The impressive success of Thomas Piketty’s book (Piketty 2014) shows that inequality is a great concern in most countries. His claim that “capital is back”, because the ratio of capital over income is returning to the levels of the end of the 19th century, is probably one of the most striking conclusions of his 700 pages.

Topics: Global economy
Tags: capital, house prices, housing, housing bubble, Inequality, rents, wealth inequality

Is Piketty’s ‘Second Law of Capitalism’ fundamental?

Per Krusell, Tony Smith, 1 June 2014

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Over the last several weeks, we have thought quite a bit about the main message in Thomas Piketty’s now world-famous book, Capital in the Twenty-First Century (Piketty 2014). We have also discussed it at great length with colleagues.

Topics: Poverty and income inequality
Tags: growth, Inequality, saving, savings, wealth

Global income distribution: From the fall of the Berlin Wall to the Great Recession

Christoph Lakner , Branko Milanovic, 27 May 2014

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The period between the fall of the Berlin Wall and the Great Recession saw probably the most profound reshuffle of individual incomes on the global scale since the Industrial Revolution.

Topics: Global economy, Politics and economics, Poverty and income inequality
Tags: democracy, globalisation, income inequality, Inequality

How unequal is the European Parliament’s representation?

Anish Tailor, Nicolas Véron, 21 May 2014

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This week’s European Parliament election (22–25 May) has several unprecedented features. Most importantly, the main pan-European parties are fielding lead candidates for European Commission President.

Topics: EU institutions, Politics and economics
Tags: democracy, elections, EU, European parliament, Inequality, treaty change, voting

Falling real wages in the UK

David Blanchflower, Stephen Machin, 12 May 2014

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There have been unprecedented falls in real wages in the UK since the start of the recession triggered by the financial crisis of 2008. This did not happen in previous economic downturns – median real wage growth slowed down or stalled, but it did not fall.

Topics: Labour markets, Poverty and income inequality
Tags: Great Recession, Inequality, real wages, UK, unemployment, US, wages

How to address inequality

Jeffrey Frankel, 29 April 2014

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Inequality has received a lot of attention lately, particularly in two arenas where it had not previously received as much: American public debate and the International Monetary Fund.

Topics: Politics and economics, Poverty and income inequality
Tags: Inequality, Political Economy, redistribution, US, voting

Human capital and income inequality: Some facts and some puzzles

Amparo Castelló-Climent, Rafael Doménech, 23 April 2014

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The rise of income inequality in many countries from 1985 onwards, and particularly during the recent crisis, has prompted a current debate on the causes and consequences of higher inequality and its effects on future growth (see, for example, OECD 2011, IMF 2014, or Ostry et al. 2014).

Topics: Development, Education, Poverty and income inequality
Tags: education, globalisation, human capital, Inequality, skill-biased technological change

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