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Essays On Inequality Redistribution And Wealth Based Politics
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Book Synopsis Essays on Inequality, Redistribution and Wealth-based Politics by : Najy Benhassine
Download or read book Essays on Inequality, Redistribution and Wealth-based Politics written by Najy Benhassine and published by . This book was released on 2001 with total page 250 pages. Available in PDF, EPUB and Kindle. Book excerpt: (Cont.) We use specific historical examples to support the implications of the model. The second chapter extends the model presented in chapter one to a two-period framework. The idea is to model how the prospect of future distributional conflicts affect present choices of redistribution and political reform when wealth gives political power. The aim of the model is to shed some light on the incentives of the politically powerful to pursue distributional policies that can be growth enhancing, when these policies adversely affect their future political weight. We illustrate this dynamic distributional conflict using two simple models of political power, where political weight depend on wealth or on rank in the income distribution. We show that the more wealth-biased the political system, the lower will be the redistribution rate in period 1, as the future political cost of redistributing is higher. We also provide some insights on how these dynamics behave when considering a more general form of political system. Finally, we introduce political change into the framework and present a model of franchise extension and redistribution that entails a risk of revolution. We find that when political weight is based on wealth, then an elite which chooses not to extend the franchise early, will choose a higher rate of redistribution, the higher the probability of a revolution occurring in period 2. The idea being that in a wealth-based political system, the expected future political cost of redistributing income in the first period is lower, the higher the probability that a revolution abolishes this wealth-based system ...
Book Synopsis Essays on the Political Economy of Inequality, Redistribution and Growth by : Francisco Rafael Rodriguez Caballero
Download or read book Essays on the Political Economy of Inequality, Redistribution and Growth written by Francisco Rafael Rodriguez Caballero and published by . This book was released on 1998 with total page 268 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Essays on Income Inequality, Political Inequality and Income Redistribution in the U.S. by : Pavel Brendler
Download or read book Essays on Income Inequality, Political Inequality and Income Redistribution in the U.S. written by Pavel Brendler and published by . This book was released on 2016 with total page 92 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first chapter, entitled "Life-time earnings inequality and income redistribution through social security in the U.S.", is devoted to social security, which is the public pension system in the U.S. In 2015, the Social Security Advisory Board proposed to the Congress to change the parameters of the pension benefit formula, which have been constant since 1977. This change implies a fall in statutory replacement rates for individuals with high lifetime earnings. I construct a model, which accounts for a significant portion of the proposed change. Counterfactual experiments suggest that increased uncertainty in the labor productivity process and the upward shift in the college premium explain most of the change in the parameters of the pension benefit formula. The second chapter, "Income inequality and political inequality in the U.S.", is devoted to the median voter theorem, which is one of the most celebrated results in the public choice theory. Existing structural models predict too high income redistribution for the U.S. economy if the tax rate is chosen by the median voter. One potential explanation is that the political process in the U.S. is biased towards richer agents. In this case, the decisive agent is richer than the standard median voter and therefore prefers lower redistribution consistent with the data. I introduce wealth-weighted majoritarian voting over progressive income taxation into a heterogeneous agent model with idiosyncratic risk. I show that the model can significantly better explain the dynamics of income redistribution in the U.S. since 1980s than a model with a standard median voter. In the third chapter of my dissertation, entitled "Voter mobilization and electoral competition", which is a joint work with Ilya Archakov, we analyze the impact of voter abstention on electoral competition in the U.S. We present a novel game theoretic approach to study the competition between two candidates for a seat in a legislature, when candidates can spend money both on advertising to gain a larger share of potential supporters and on voter mobilization to bring the supporters to the voting poll. We show that the results of our model are consistent with the campaign expenditure data by the Federal Election Commission for the 2010 and 2012 House of Representative election cycles.
Book Synopsis Inequality and Economic Policy by : Tom Church
Download or read book Inequality and Economic Policy written by Tom Church and published by Hoover Press. This book was released on 2015-12-01 with total page 238 pages. Available in PDF, EPUB and Kindle. Book excerpt: Drawing from a 2014 Hoover Institution Conference on Inequality in honor of Gary Becker, a group of distinguished contributors explore various measures of inequality in America and address the issue of whether or not it is increasing. In looking at this question and examining policy implications, the authors draw on research on human capital and intergenerational mobility. The authors suggest that the emphasis on inequality and redistribution, while not wrong, is nevertheless misplaced, for it may lead us to adopt policies that will disrupt the progress we have made while doing nothing to promote the kind of growth that is essential to national progress.
Download or read book The Great Gap written by Merike Blofield and published by Penn State Press. This book was released on 2011 with total page 418 pages. Available in PDF, EPUB and Kindle. Book excerpt: "A collection of essays addressing the relationship between inequality and politics in Latin America. Examines the socioeconomic context and inequality of opportunities; elite culture, public opinion, and media framing; capital mobility, campaign financing, representation and gender equality policies; and taxation and social policies"--Provided by publisher.
Book Synopsis Redistribution, Inequality, and Growth by : Mr.Jonathan David Ostry
Download or read book Redistribution, Inequality, and Growth written by Mr.Jonathan David Ostry and published by International Monetary Fund. This book was released on 2014-02-17 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Unequal Democracies written by Noam Lupu and published by Cambridge University Press. This book was released on 2023-12-31 with total page 387 pages. Available in PDF, EPUB and Kindle. Book excerpt: Introduces the latest research on political inequality and its relationship to economic inequalities in North America and Western Europe.
Book Synopsis Essays on the Political Economy of Inequality and Redistribution by : Filipe Robin Campante
Download or read book Essays on the Political Economy of Inequality and Redistribution written by Filipe Robin Campante and published by . This book was released on 2007 with total page 252 pages. Available in PDF, EPUB and Kindle. Book excerpt: Finally, the third chapter focuses on corruption---more specifically, on the effect of political stability on incumbent officials' incentives to engage in corrupt behavior. The essay shows that high levels of instability can have different effects on different types of corruption, and that this interaction leads to a non-monotonic relationship approximating a U-shape between stability and corruption. It then provides support for this prediction using cross-country data.
Book Synopsis The Undeserving Rich by : Leslie McCall
Download or read book The Undeserving Rich written by Leslie McCall and published by Cambridge University Press. This book was released on 2013-03-29 with total page 319 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Chapter One Introduction: Thinking about Income Inequality In the past decade, we have witnessed one sensational event after another connected in some way to rising income inequality. As I write, it is the Occupy Wall Street movement, which is not only demanding greater economic and social equality for the bottom ninety-nine against the top one "percenters" but coining a new set of class categories in the process. Almost a decade ago, when I began research on American beliefs about rising inequality, it was the scandals surrounding Enron that were making front page news, with the pension funds of workers and retirees evaporating into thin air as the coffers of executives mysteriously survived. In between Enron and Occupy Wall Street, there is no shortage of occasions to reflect on the state of income inequality in the U.S. -the Bush tax cuts of 2001 and 2003, the outsourcing of middle class jobs to Ireland and India, Hurricane Katrina, the financial crisis and the Great Recession. At each turn in the road, reporters and commentators concerned about rising income inequality but dismayed by the lack of political attention given to the issue declared that finally it would be taken seriously. And this says nothing of the events prior to the 2000s, several of which pointed the finger at rising inequality just as vehemently, as I show in my analysis of media coverage of income inequality in chapter 3. Yet nothing has changed. Income inequality continues its rise to heights unfathomable just a few generations ago. The late public intellectual and eminent Harvard sociologist Daniel Bell wrote in 1973 that earnings inequality "will be one of the most vexing questions in a post-industrial society." Heconomies of the past"--
Book Synopsis Deprivation, Inequality and Polarization by : Indraneel Dasgupta
Download or read book Deprivation, Inequality and Polarization written by Indraneel Dasgupta and published by Springer. This book was released on 2019-05-22 with total page 220 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book offers a collection of original, state-of-the-art essays addressing various aspects of the economic analysis of inequality, deprivation, poverty measurement and social polarization, at both the theoretical and empirical level. Written by leading authorities in the fields of distributional analysis and normative economics, the respective chapters present detailed overviews of cutting-edge literature, as well as stand-alone research. Compiled as a tribute to Satya Ranjan Chakravarty’s lifetime contributions in the fields of normative economics and distributional analysis, it represents an indispensable resource for researchers, policymakers and doctoral students working on issues pertaining to income/wealth distribution, social inclusion and poverty reduction.
Book Synopsis The Political Geography of Inequality by : Pablo Beramendi
Download or read book The Political Geography of Inequality written by Pablo Beramendi and published by Cambridge University Press. This book was released on 2012-03-26 with total page 317 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is a book about redistribution and inequality in political unions, a form of democracy that involves several levels of government and that encompasses about one third of the population living under democracy around the world. The analysis concerns how different unions solve the tension between the protection of autonomy for specific territories and the redistribution of wealth among them and among their citizens.
Book Synopsis Essays on Social Policy and Preferences for Redistribution by : Max Ngoc Vu
Download or read book Essays on Social Policy and Preferences for Redistribution written by Max Ngoc Vu and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation is composed of two essays. The first chapter "The Impact of Government Programs on Individual Preferences for Redistribution: Evidence from SCHIP/Medicaid expansion" investigates the effects of government's transfer programs on individual's preferences for redistribution. Using the restricted file of the General Social Survey from 1996 to 2014, I study the impact of a large public insurance program targeting children on their parents' support for government's redistribution. To account for the endogeneity of program eligibility, I adopt an instrumental variable approach that exploits state-level variation in children's age groups and income thresholds for program eligibility to simulate individual household's exposure to the policy. I find strong evidence suggesting that having a child eligible for the program has a positive and significant impact on parents' support for redistribution, by around 25% of the variable's standard deviation. It is possibly mediated through the channel of increasing individual's trust in the government. The result is robust to alternate specifications and different measures of support for redistribution. The second chapter "The Effects of Relative Income on Preferences for Redistribution" investigates whether individuals' position on the income distribution, i.e their relative income, affects their preferences for redistribution. Specifically, using cross-state variations from the US General Social Survey (GSS), augmented with cross-country variations from the World Values Survey (WVS), I examine whether the individuals' preferences for redistribution change once they become relatively rich compared to their peers. Controlling for the level of income, I look at the effects of peer group's relative income, using the practice of measuring individual preferences for redistribution from the literature. Consistent with previous studies, I find relative income to have an effect on individual's happiness. I also find evidence that relative income affect individual's attitudes towards income inequality and support for redistribution. An increase in individuals' relative income results in less support for redistributive policies: those with higher income compared to their peer group are less favorable of government reducing income differences, less in support of government aid and less in favor of other redistributive policies. The results are consistent using both data from the US and other countries, and robust to different fuctional forms, and measures of relative income.
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 Acceptable Inequalities by : Ian Bowen
Download or read book Acceptable Inequalities written by Ian Bowen and published by . This book was released on 1970 with total page 158 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Income Redistribution, Inequality and Democracy by : Joo Seo Hwan
Download or read book Income Redistribution, Inequality and Democracy written by Joo Seo Hwan and published by . This book was released on 2024 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This book answers why democracy has failed to deliver effective solutions to income inequality problems over the last four decades, and if democracy can offer solutions to various increases in inequality in the future. It also addresses what elements are necessary for democracy to serve as an effective alternative for addressing inequality issues. Historical experiences over the past 40 years, including the global financial crisis, not only underscore the need for fresh perspectives on income inequality in economics but also question the ability of democracy to continue providing alternatives for addressing the escalating forms of inequality. Seo and Kang's response to these inquiries diverge from conventional research in several significant ways. Primarily, what sets this research apart from existing studies is its intensified focus on income inequality as a product of the complex interplay between the political and economic domains, rather than a standalone examination of income inequality in isolation. Through a political economy perspective, this book argues that income inequality and income redistribution are shaped by the institutions, policies, and laws generated by the political system, with their formation and nature being determined by the power distribution among socio-political groups. A useful resource not only to researchers who study political phenomena in the field of economics, but also to scholars who study economic phenomena in the field of politics. Furthermore, it will be particularly intriguing for policymakers concerned with issues of inequality and income redistribution"--
Book Synopsis Essays on Income Inequality and Public Policy by : Christopher Fowler
Download or read book Essays on Income Inequality and Public Policy written by Christopher Fowler and published by . This book was released on 2020 with total page 134 pages. Available in PDF, EPUB and Kindle. Book excerpt: Chapter one determines the properties of the optimal tax function when there is rent-seeking in the labor market. Rent-seeking in the labor market refers to unproductive effort expended in order to increase compensation. With rent-seeking effort expended by high skill workers, low skill workers face reduced wages because firms, in a competitive market, face a zero profits condition. Firms are able to respond to rent-seeking by increasing the number of high skill workers hired, reducing their productivity and wages. The government's optimal tax function increases marginal and average taxes on high skill workers. While low skill workers face lower marginal and average tax rates. The government, therefore, wishes to redistribute income primarily through post-tax income rather than through manipulating the distribution of pre-tax income. Chapter two looks at the effect of both intensive and extensive margin labor supply on the optimal tax function. The model combines a static search labor market model with a classical labor supply model. By combining these two models, the optimal tax function will balance incentives for working more hours and incentives for searching for work. The tax function provides insight into how the government should balance redistribution and efficiency when workers can potentially be unemployed for long periods of time. The resulting tax function increases the marginal tax rate over the model. This increase is due to the government's ability to decrease the wages of workers which increases the general equilibrium probability of employment for workers. Chapter three investigates the effect of uneven internal migration by skill on the income inequality in local labor markets. Migrant moving within the US are more educated than workers who stay in their local labor market. We would expect to see income inequality to decrease in locations that experience more migration. However, we don't see this effect. Chapter one investigates this phenomenon using data from the American Community Survey (ACS). The ACS records information on income, education, and migration patterns and is a yearly representative sample of the US population. To causally estimate the effect of differing rates of migration by skill, a shift-share instrument is constructed. This instrument creates a predicted amount of migration based on historical migration patterns. The instrument seems to work well and does not appear to correlated with labor demand shocks. The main results are that income inequality increases when there are more college educated workers moving than non-college educated workers.
Book Synopsis Essays on Macroeconomic Policies and Redistribution by : Karen Davtyan
Download or read book Essays on Macroeconomic Policies and Redistribution written by Karen Davtyan and published by . This book was released on 2016 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The general objective of the doctoral thesis is to evaluate the distributive effects of macroeconomic policies. In particular, the thesis assesses the distributional impact of fiscal policy, conventional and unconventional monetary policies. The distributive effect of fiscal policy is examined by analyzing the interrelations among economic growth, income inequality, and fiscal performance based on the evidence from the Anglo-Saxon countries. These interrelations are analyzed jointly in a system by examining also transmission channels among them. All the variables are regarded as endogenous within the framework of the structural vector autoregression methodology. This allows exploring dynamic interactions among the variables and feedback effects on each other through impulse response functions. In addition, the thesis provides new evidence on interrelations among economic growth, income inequality, and fiscal performance by employing the longest possible consistently measured data on income inequality on a country basis. The obtained results show that there are differences in the obtained results for the countries. Particularly, income inequality has negative effect on economic growth in the case of the UK while its effect is positive in the cases of the USA and Canada. The increase in inequality worsens fiscal performance for all the countries. Government spending reduces income inequality in the UK but it raises inequality in the USA and Canada. In addition, the results also indicate that tax revenues generally raise income inequality in all the considered countries. Thus, the measures of the fiscal policy channel are important tools to consider in the design of the policies to decrease inequality. The academic literature generally views fiscal policy as a measure to address growing income inequality, which is a widespread concern nowadays. Although the income distribution could also be affected by monetary policy, the distributive effects of monetary policy have not broadly been discussed in the literature. Taking this into account, the thesis contributes to the discussion in this research area by evaluating the effect of monetary policy on income inequality. The distributional effect of monetary policy is estimated in the case of the USA, where the dynamics in income inequality has mainly been driven by the variation in the upper end of distribution since early 1980's. Consequently, the thesis uses an inequality measure that represents the whole distribution of income. To identify a monetary policy shock, the thesis employs contemporaneous identification with ex-ante identified monetary policy shocks as well as log run identification. In particular, a cointegration relation has been determined among the considered variables and the vector error correction methodology has been applied for the identification of the monetary policy shock. The obtained results indicate that contractionary monetary policy decreases the overall income inequality in the country. These results could have important implications for the design of policies to reduce income inequality by giving more weight to monetary policy. In the wake of the global financial crisis, central banks have generally begun to implement unconventional monetary policy together with conventional policy measures. There are already numerous studies on the impact of unconventional monetary policy measures on financial market as well as on their macroeconomic effect. However, the distributive effect of unconventional monetary policy has not essentially been examined yet. The thesis fills this gap by evaluating the distributive impact of unconventional monetary policy in comparison with the distributional effect of conventional monetary policy. The distributional effects of conventional and unconventional monetary policies are evaluated for the USA. The distributive impact of conventional monetary policy is explored through contractionary policy shocks. At the same time, the distributional effect of unconventional monetary policy is studied via expansionary policy shocks. The obtained results indicate that conventional monetary policy reduces income inequality while unconventional monetary policy raises it. In particular, the distributive impact of conventional monetary policy is stronger. The results also show that the both conventional and unconventional monetary policies significantly affect the upper part of income distribution. While conventional monetary policy does not significantly affect the lower part of income distribution, unconventional monetary policy has still a significant impact on it. In addition, the implemented variance decomposition analysis assesses the relative importance of conventional and unconventional monetary policy shocks in the variation of Gini index of income inequality. The obtained results indicate that the unconventional monetary policy shock explains the higher share of the variation in Gini index than the conventional monetary policy shock."--TDX.
