The chartbook of economic inequality

Tony Atkinson, Salvatore Morelli 26 March 2014

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Inequality – long ignored – is now centre stage in debate about economic policy around the globe. The 2007-2008 collapse of the global financial system and the subsequent economic downturn/debt crises have acted as a catalyst for growing anxiety around the increasing dispersion of incomes within most advanced economies. We are not “all in it together”.

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Topics:  Poverty and income inequality

Tags:  wealth, income, inequalities

Recasting international income differences: The next-generation Penn World Table

Robert C Feenstra, Robert Inklaar, Marcel Timmer 02 September 2013

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The Penn World Table has long been a standard data source for those interested in comparing living standards across countries and explaining differences in cross-country growth. The article describing version 5.6 (Summers and Heston 1991), is among the most widely cited papers in economics with well over 1000 citations.

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Topics:  Development Frontiers of economic research

Tags:  income, Penn World Table

Distributional consequences of natural-resource booms: Lessons from Australia

Sambit Bhattacharyya, Jeffrey G. Williamson 10 August 2013

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Commodity-price shocks have powerful but unequal effects on labour, capital and land. A large literature, often referred to as the ‘Dutch Disease’ literature, documents the effects of commodity booms on factors of production (Corden and Neary 1982). An increase in global commodity demand and a subsequent rise in commodity prices trigger a sharp rise in commodity exports. Typically, this causes an appreciation in the exporter’s real exchange rate which in turn harms competitiveness of other tradeable sectors, like agriculture and manufacturing.

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Topics:  Development International trade

Tags:  Inequality, wealth, income, Australia

Technology and income dynamics: 1800-2000

Diego Comin, Martí Mestieri 28 May 2013

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Two-hundred years ago, cross-country differences in income were relatively small. European countries and Western offshoots, what Maddison (2004) called Western countries, were on average 90% richer than the rest.1 By 2000, this income gap had grown to 750%. Most economic studies of long-run development have tried to relate current income differences to pre-determined factors, such as genetic endowments, cultural differences, climate and institutions (e.g., Spolaore and Wacziarg 2009; Ashraf and Galor 2013; Acemoglu et al.

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Topics:  Economic history

Tags:  income, technology

Income and schooling

Markus Brückner, Mark Gradstein 04 April 2013

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Countries’ average income per capita is strongly correlated with more schooling. This can be seen both by looking at the relationship between them across countries (Figure 1), and by considering their evolution over time in particular countries. For example, the percentage of the population in the US with at least a college degree rose from around 10% in the early 1960s to almost 30% in the early 2000s, while annual real GDP per capita in the same period grew from under $20,000 to over $40,0001.

Figure 1. Income and schooling

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Topics:  Education

Tags:  human capital, income

Avoiding middle-income growth traps

Pierre-Richard Agénor, Otaviano Canuto, Michael Jelenic 21 December 2012

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In the postwar era, many countries have managed to quickly reach middle-income status, but few have gone on to become high-income economies1. Rather, after an initial period of rapid ascent, many countries have experienced a sharp slowdown in growth and productivity, falling into what has been called a ‘middle-income trap’:

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Topics:  Development International trade Labour markets Productivity and Innovation

Tags:  income, innovation, labour market reform, investment, middle income

The consumption response to income changes

Tullio Jappelli, Luigi Pistaferri 02 April 2010

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With the recovery underway, the consumption-income link is back in the spotlight. While there is a long tradition of studying the connection, many questions lack definitive answers:

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Topics:  Macroeconomic policy

Tags:  income, fiscal policy, taxes, consumption

The effect of lottery prizes on physical and mental health

Andrew E. Clark interviewed by Romesh Vaitilingam,

Date Published

Fri, 04/02/2010

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Topics

Health economics
Tags
income, health, happiness

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Hedonic adaptation: Does happiness last?
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Parental education and parental time with children

Jonathan Guryan, Erik Hurst, Melissa S. Kearney 05 July 2008

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In an April 2008 column, New York Times columnist David Brooks asserted:

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Topics:  Education Poverty and income inequality

Tags:  income, parental education, child care

Rising income per capita does not necessarily increase chances of a move to democracy

Daron Acemoglu, Simon Johnson, James A Robinson, Pierre Yared,

Date Published

Mon, 08/20/2007

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At the heart of comparative politics is an attempt to understand why different societies are organised in different ways. Why are some democratic, others not? Why do some societies develop modern effective nation states, while others do not? Why do some societies experience revolutions, while others undertake more gradual change? And finally, why are some societies relatively prosperous, while others are not?

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