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Do Labor Market Policies And Growth Fundamentals Matter For Income Inequality In Oecd Countries
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Book Synopsis Do Labor Market Policies and Growth Fundamentals Matter for Income Inequality in Oecd Countries? Some Empirical Evidence by : Mr.Patrick Van Houdt
Download or read book Do Labor Market Policies and Growth Fundamentals Matter for Income Inequality in Oecd Countries? Some Empirical Evidence written by Mr.Patrick Van Houdt and published by International Monetary Fund. This book was released on 1997-01-01 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: Income distribution may be related to fundamentals affecting economic growth and to labor market policies. Noting that inequality is affected by unemployment. This paper presents a model in which labor market policies affect unemployment which in turn affects inequality. The model also includes the effects of changes in per capita income on inequality through the accumulation of physical capital and technological know–how. When a resulting reduced–form relationship is estimated, its explanatory power is surprisingly high: on average, it explains about three quarters of the variation in inequality measures for the OECD countries, and Granger Causality tests confirm the model’s predictions.
Book Synopsis Do Labor Market Policies and Growth Fundamentals Matter for Income Inequality in OECD Countries? Some Empirical Evidence by : Patrick Vanhoudt
Download or read book Do Labor Market Policies and Growth Fundamentals Matter for Income Inequality in OECD Countries? Some Empirical Evidence written by Patrick Vanhoudt and published by . This book was released on 2014 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: Income distribution may be related to fundamentals affecting economic growth and to labor market policies. Noting that inequality is affected by unemployment. This paper presents a model in which labor market policies affect unemployment which in turn affects inequality. The model also includes the effects of changes in per capita income on inequality through the accumulation of physical capital and technological know-how. When a resulting reduced-form relationship is estimated, its explanatory power is surprisingly high: on average, it explains about three quarters of the variation in inequality measures for the OECD countries, and Granger Causality tests confirm the model`s predictions.
Book Synopsis Income Inequality in OECD Countries by : Peter Hoeller
Download or read book Income Inequality in OECD Countries written by Peter Hoeller and published by World Scientific. This book was released on 2014 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a comprehensive review of income inequality issues in the OECD in a cross-country setting. It presents a wealth of data and analysis on the formation of inequality and identifies groups of countries that share similar inequality patterns. It also reviews developments at the extremes of the income distribution, namely poverty, top incomes as well as the distribution of wealth. An important contribution of the book is the careful examination of the determinants of the income distribution, such as globalisation and technical progress as well as the effect of a wide range of economic policies that shape the distribution of income. These include in particular labour market regulations, household taxes and transfers as well as in-kind public services. It also sheds light on an under-researched issue: do policies aimed at boosting economic growth raise or reduce income inequality
Book Synopsis Inequality, Labor Market Policies and Economic Growth by : Patrick Vanhoudt
Download or read book Inequality, Labor Market Policies and Economic Growth written by Patrick Vanhoudt and published by . This book was released on 1999 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper tries to analyze whether pursuing economic growth and setting up labor market policies affect inequality. Therefore a simple testable model along the lines of the Kuznets and Neoclassical literature is fit to the data. The explanatory power of the regressions is high. On average the model explains about three quarters of the variation in inequality measures for the OECD countries. The theoretical ignorance about the sources of inequality translates into sharp disagreements in evaluating policy options. The results here indicate that inequality is negatively affected by factors related to the engines of economic growth: the accumulation of physical capital and technological know-how. As for aggregate investment in physical capital and inequality in the OECD countries, the results in this paper reconcile with earlier findings on this topic. However the relation between R&D and inequality had not been tested yet.The gains for the upper part of the distribution from investments in capital outweigh the losses at the bottom quintile significantly. Moreover, the impact of accumulating either kind of capital differs: investment in physical capital has a larger negative impact on the bottom part than investment in knowledge, and the income gains of accumulating technological know-how are smaller for the richest quintile compared to the gains of investment in physical capital. Investment in R&D thus seems the least harmful for inequality: accumulating technological know-how widens the gap between rich and poor less serious than accumulating physical capital. Changes in the tax-wedge turn out to be a significant instrument for lowering inequality: it increases the income share at the bottom part of the distribution at the cost of a lower income share higher up the distribution. The effect of changes in the labor force growth could not be estimated precisely, but higher labor force growth seems to widen the gap between the top and bottom quintile, via a decrease in the income at the lower and an increase at the top part of the distribution. The impact of active labor market policies is significant and effective to reduce inequality. The reduction in the income share at the top part of the distribution due to this type of policy (presumably financed by redistributive taxes) can be ignored compared to the gains at the bottom part of the distribution. As opposed to the active labor market policies, passive labor market policies, however, have only a small impact which could not be estimated precisely. As for the Gini-coefficient this kind of labor market policy moreover is rather a source of increases in inequality. However, the sum of the labor market policy and the tax wedge effects seems not offset the effects of investment in physical capital and knowledge. The causality tests confirm the causal relation in this model as well as the causal direction implied in the political economy literature, but rejects the causality suggested in the consumption theory.
Book Synopsis Growing Income Inequalities by : J. Hellier
Download or read book Growing Income Inequalities written by J. Hellier and published by Springer. This book was released on 2012-11-13 with total page 347 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explores the widening gap between the wage packets of skilled and unskilled workers that has become a pressing issue for all states in the globalized world economy. Comparing the experiences of more and less developed economies, chapters analyse the underlying causes and key social changes that accompany income inequality.
Book Synopsis Inequality and Labor Market Institutions by : Ms.Florence Jaumotte
Download or read book Inequality and Labor Market Institutions written by Ms.Florence Jaumotte and published by International Monetary Fund. This book was released on 2015-07-01 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: The SDN examines the role of labor market institutions in the rise of income inequality in advanced economies, alongside other determinants. The evidence strongly indicates that de-unionization is associated with rising top earners’ income shares and less redistribution, while eroding minimum wages are related to increases in overall income inequality. The results, however, also suggest that a lack of representativeness of unions may be associated with higher inequality. These findings do not necessarily constitute a blanket recommendation for higher unionization and minimum wages, as country-specific circumstances and potential trade-offs with other policy objectives need to be considered. Addressing inequality also requires a multipronged approach, which should include taxation reform and curbing excesses associated with financial deregulation.
Book Synopsis The Economics of Rising Inequalities by : Daniel Cohen
Download or read book The Economics of Rising Inequalities written by Daniel Cohen and published by OUP Oxford. This book was released on 2002-10-24 with total page 372 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is an in-depth discussion of rising inequalities in the western world. It explores the extent to which rising inequalities are the mechanical consequence of changes in economic fundamentals (such as changes in technological or demographic parameters), and to what extent they are the contingent consequences of country-specific and time-specific changes in institutions. Both the 'fundamentalist' view and the 'institutionalist' view have some relevance. For instance, the decline of traditional manufacturing employment since the 1970s has been associated in every developed country with a rise of labor-market inequality (the inequality of labor earnings within the working-age population has gone up in all countries), which lends support to the fundamentalist view. But, on the other hand, everybody agrees that institutional differences (minimum wage, collective bargaining, tax and transfer policy, etc.) between Continental European countries and Anglo-Saxon countries explain why disposable income inequality trajectories have been so different in those two groups of countries during the 1980s-90s, which lends support to the institutionalist view. The chapters in this volume show the strength of both views. Through empirical evidence and new theoretical insights the contributors argue that institutions always play a crucial role in shaping inequalities, and sometimes preventing them, but that inequalities across age, sex, and skills often recur. From Sweden to Spain and Portugal, from Italy to Japan and the USA, the volume explores the diversity of the interplay between market forces and institutions.
Book Synopsis Income Inequality in OECD Countries by : Peter Hoeller
Download or read book Income Inequality in OECD Countries written by Peter Hoeller and published by Imperial College Press. This book was released on 2014 with total page 227 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a comprehensive review of income inequality issues in the OECD in a cross-country setting. It presents a wealth of data and analysis on the formation of inequality and identifies groups of countries that share similar inequality patterns. It also reviews developments at the extremes of the income distribution, namely poverty, top incomes as well as the distribution of wealth. An important contribution of the book is the careful examination of the determinants of the income distribution, such as globalisation and technical progress as well as the effect of a wide range of economic policies that shape the distribution of income. These include in particular labour market regulations, household taxes and transfers as well as in-kind public services. It also sheds light on an under-researched issue: do policies aimed at boosting economic growth raise or reduce income inequality?
Book Synopsis In it Together by : Organisation for Economic Co-operation and Development
Download or read book In it Together written by Organisation for Economic Co-operation and Development and published by OCDE. This book was released on 2015 with total page 342 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book highlights the key areas where inequalities are created and where new policies are required. It examines the consequences of current consolidation policies, structural labor market changes with rising non-standard work and job polarization, persisting gender gaps, the challenge of high-wealth concentration, and the role for redistribution policies.
Book Synopsis Labour Market Performance, Income Inequality and Poverty in OECD Countries by : Jean-Marc Burniaux
Download or read book Labour Market Performance, Income Inequality and Poverty in OECD Countries written by Jean-Marc Burniaux and published by . This book was released on 2006 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Unemployment and Wage Inequality in OECD Countries by : Richard Jackman
Download or read book Unemployment and Wage Inequality in OECD Countries written by Richard Jackman and published by . This book was released on 1995 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Explaining Income Inequalities by : Ramesh Bhardwaj
Download or read book Explaining Income Inequalities written by Ramesh Bhardwaj and published by . This book was released on 2018 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Rising income inequality has become a global trend. It is already well established that pronounced income inequalities not only constrain future growth potential but are also accompanied by unequal opportunities that have inimical social consequences. Income inequalities exhibit considerable variations across OECD countries, and growth performance records clearly demonstrate that there does not have to be a trade-off between growth and equality. Understanding the drivers behind growing income inequalities is essential to determining an appropriate inclusive development strategy. In this study, the “Partial Least Square” method is used to predict the Gini-coefficient of income inequality, using cross-sectional data from 30 OECD countries. Factors identified as explaining cross-country variations in inequalities include the 'Palma' ratio, working poor, NEET youth, child poverty, and public expenditure on active employment programs. The evidence suggests that social and labor market policies can be effective in tackling poverty and inequality.
Book Synopsis Labour Market Performance, Income Inequality and Poverty in OECD Countries. OECD Economics Department Working Papers by : Jean-Marc Burniaux
Download or read book Labour Market Performance, Income Inequality and Poverty in OECD Countries. OECD Economics Department Working Papers written by Jean-Marc Burniaux and published by . This book was released on 2006 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: There have been concerns that employment-enhancing reforms along the lines of the 1994 OECD Jobs Strategy could inadvertently lead to increased income inequality and poverty. This paper focuses on the impact of institutions and redistributive policies on inequality and poverty with the view of assessing whether a trade-off between better labour market performance and equity has taken place in OECD countries, notably in the 1990s. During this period, reductions of unemployment have been associated with rising wage dispersion for workers in most OECD countries. Nevertheless, no clear general trend appears for total disposable income inequality and relative poverty among the total population. These developments suggest that gains from higher employment have in general offset the impact of rising wage dispersion. A preliminary econometric analysis for the period 1978-2000 fails to detect any robust relationship between labour market institutions/policies and inequality as measured by the Gini coefficient. (A bibliography is included. Contains 39 footnotes, 5 figures, 1 box and 20 tables.).
Book Synopsis Less Income Inequality and More Growth - Are They Compatible? Part 8. The Drivers of Labour Income Inequality - A Literature Review by : Rafal Kierzenkowski
Download or read book Less Income Inequality and More Growth - Are They Compatible? Part 8. The Drivers of Labour Income Inequality - A Literature Review written by Rafal Kierzenkowski and published by . This book was released on 2012 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: Despite a general trend of increasing labour income inequality, there have been differences in the timing, intensity and even direction of these changes across OECD countries. These stylized facts have led to numerous studies about the main determinants of labour income inequality and, as a result, a significant revision of the previous consensus about the key drivers. The most researched channels include skill-biased technological change, international trade, immigration, education as well as the role of labour market policies and institutions.
Book Synopsis Inequality and Growth by : Theo S. Eicher
Download or read book Inequality and Growth written by Theo S. Eicher and published by MIT Press. This book was released on 2007-01-26 with total page 343 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Causes and Consequences of Income Inequality by : Ms.Era Dabla-Norris
Download or read book Causes and Consequences of Income Inequality written by Ms.Era Dabla-Norris and published by International Monetary Fund. This book was released on 2015-06-15 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Inequality of Opportunity, Inequality of Income and Economic Growth by : Mr.Shekhar Aiyar
Download or read book Inequality of Opportunity, Inequality of Income and Economic Growth written by Mr.Shekhar Aiyar and published by International Monetary Fund. This book was released on 2019-02-15 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt: We posit that the relationship between income inequality and economic growth is mediated by the level of equality of opportunity, which we identify with intergenerational mobility. In economies characterized by intergenerational rigidities, an increase in income inequality has persistent effects—for example by hindering human capital accumulation— thereby retarding future growth disproportionately. We use several recently developed internationally comparable measures of intergenerational mobility to confirm that the negative impact of income inequality on growth is higher the lower is intergenerational mobility. Our results suggest that omitting intergenerational mobility leads to misspecification, shedding light on why the empirical literature on income inequality and growth has been so inconclusive.
