lucas vs lucas on inequality and growth

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Lucas Vs Lucas On Inequality And Growth

Author : Juan Carlos Cordoba
Genre : Business cycles
File Size : 42. 46 MB
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Lucas (2004) asserts that "Of the tendencies that are harmful to sound economics, the most seductive, and in my opinion the most poisonous, is to focus on questions of distribution... The potential for improving the lives of poor people by finding different ways of distributing current production is nothing compared to the apparently limitless potential of increasing production." In this paper we evaluate this claim using an extended version of Lucas' (1987) welfare-evaluation framework. Surprisingly, we find that the welfare costs of inequality outweigh the benefits of growth in most cases. These calculations support the case for a research agenda that treats not only growth but also inequality as a priority.

Lectures On Economic Growth

Author : Robert E. Lucas
ISBN : 0674016017
Genre : Business & Economics
File Size : 70. 93 MB
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In this book, Robert Lucas brings together several of his seminal papers on the subject, together with the Kuznets Lectures that he gave at Yale University, to present a coherent view of economic growth."--BOOK JACKET.

Breadline Britain

Author : Stewart Lansley
ISBN : 9781780745459
Genre : Political Science
File Size : 38. 7 MB
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Poverty in Britain is at post-war highs and - even with economic growth - is set to increase yet further. Food bank queues are growing, levels of severe deprivation have been rising, and increasing numbers of children are left with their most basic needs unmet. Based on exclusive access to the largest ever survey of poverty in the UK, and its predecessor surveys in the 1980s and 1990s, Stewart Lansley and Joanna Mack track changes in deprivation and paint a devastating picture of the reality of poverty today and its causes. Shattering the myth that poverty is the fault of the poor and a generous benefit system, they show that the blame lies with the massive social and economic upheaval that has shifted power from the workforce to corporations and swelled the ranks of the working poor, a group increasingly at the mercy of low-pay, zero-hour contracts and downward social mobility. The high levels of poverty in the UK are not ordained but can be traced directly to the political choices taken by successive governments. Lansley and Mack outline an alternative economic and social strategy that is both perfectly feasible and urgently necessary if we are to reverse the course of the last three decades.

Advances In Economics And Econometrics Volume 1

Author : Econometric Society. World Congress
ISBN : 9780521871525
Genre : Business & Economics
File Size : 80. 14 MB
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This volume contains ten essays on seminal topics in economic theory by internationally renowned scholars.

Endogenous Growth Theory

Author : Philippe Aghion
ISBN : 0262011662
Genre : Business & Economics
File Size : 61. 88 MB
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"Problems and solutions by Cecilia Garcâia-Peänalosa in collaboration with Jan Boone, Chol-Won Li, and Lucy White." Includes bibliographical references (p. [665]-687) and index.

Insurance And Opportunities

Author : Jonathan Heathcote
ISBN : PSU:000062644938
Genre : Labor market
File Size : 58. 26 MB
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Using a model with constant relative risk-aversion preferences, endogenous labor supply and partial insurance against idiosyncratic wage risk, we provide an analytical characterization of three welfare effects: (a) the welfare effect of a rise in wage dispersion, (b) the welfare gain from completing markets, and (c) the welfare effect from eliminating risk. Our analysis reveals an important trade-off for these welfare calculations. On the one hand, higher wage uncertainty increases the cost associated with missing insurance markets. On the other hand, greater wage dispersion presents opportunities to raise aggregate productivity by concentrating market work among more productive workers. Our welfare effects can be expressed in terms of the underlying parameters defining preferences and wage risk, or alternatively in terms of changes in observable second moments of the joint distribution over individual wages, consumption and hours.

Education And Inequality Across Europe

Author : Peter Dolton
ISBN : 1847205887
Genre : Business & Economics
File Size : 36. 88 MB
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'This volume represents a new chapter in understanding income inequality. the various authors, drawn from across Europe, not only provide rich comparative views about the extent of inequality but also go on to explain some of the causes. the composite picture of the role of education that emerges provides both researchers and policy-makers with new insights into the dynamics of economic well-being. - Eric Hanushek, Stanford University, US

Financial Deepening Inequality And Growth

Author : Robert M. Townsend
ISBN : 9781451905199
Genre : Business & Economics
File Size : 73. 53 MB
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We propose a coherent unified approach to the study of the linkages among economic growth, financial structure, and inequality, bringing together disparate theoretical and empirical literature. That is, we show how to conduct model-based quantitative research on transitional paths. With analytical and numerical methods, we calibrate and make tractable a prototype canonical model and take it to an application, namely, Thailand 1976-1996, an emerging economy in a phase of economic expansion with uneven financial deepening and increasing inequality. We broadly replicate the actual data, test the model formally, and identify anomalies.

Distribution Of Human Capital Income Inequality And The Rate Of Growth

Author : Debasis Bandyopadhyay
ISBN : MINN:31951D010311351
Genre :
File Size : 86. 79 MB
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Inequality And Growth

Author : Theo S. Eicher
ISBN : 0262050692
Genre : Business & Economics
File Size : 30. 35 MB
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Essays exploring the relationship between economic growth and inequality and the implications for policy makers.

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