Essays On Capital Accumulation Economic Growth Income Inequality And Unemployment
DOWNLOAD
Download Essays On Capital Accumulation Economic Growth Income Inequality And Unemployment PDF/ePub or read online books in Mobi eBooks. Click Download or Read Online button to get Essays On Capital Accumulation Economic Growth Income Inequality And Unemployment book now. This website allows unlimited access to, at the time of writing, more than 1.5 million titles, including hundreds of thousands of titles in various foreign languages. If the content not found or just blank you must refresh this page
Essays On Capital Accumulation Economic Growth Income Inequality And Unemployment
DOWNLOAD
Author : Iqtiaruddin Md Mamun
language : en
Publisher:
Release Date : 2014
Essays On Capital Accumulation Economic Growth Income Inequality And Unemployment written by Iqtiaruddin Md Mamun and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with categories.
The central theme of this thesis is capital accumulation. The thesis reports that increase in economic growth rate and reduction in income inequality boosts capital accumulation that in turn reduces unemployment. Three essays constitute the thesis. The first essay investigates whether saving has been driven by growth or gowth has been driven by saving using data of Asian Miracle Economies (AME) - India, Indonesia, Singapore, South Korea, and Taiwan - over the period 1870-2011.The second essay explores the effect of income inequality on capital accumulation using the data of 20 OECD countries - Canada, USA, Japan, Australia, New Zealand, Austria, Belgium, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Netherland, Norway, Portugal, Spain, Sweden, and UK - over the period 1870-2011. The effect of capital accumulation on unemployment in 21 OECD countries - Canada, USA, Japan, Australia, New Zealand, Austria, Belgium, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Netherland, Norway, Portugal, Spain, Sweden, Switzerland and UK - has been explored in the third essay. Following the neoclassical revival some economists attribute the amazing productivity growth rate in Asian Miracle Economies (AME) to capital accumulation while assign the backseat to the technological progress - the so called Krugman-Young hypothesis in which saving and schooling are independent of growth. However such assumption is questionable as from the perspective of growth accounting using Cobb-Douglas production function, theories of saving and the scenario that in AMEs prior to WWII living standard was close to subsistence level thus leaving less opportunity of saving and only after WWII with the increase in living standard financial saving and education increase it may be shown that saving and education are not exogenous and independent of growth. The first essay addresses this endogeneity and applying a two-way identification strategy and unique data covering the period 1870-2011 for the AMEs finds that financial saving as well as education comes from productivity growth, financial saving has no significant effect on growth but growth is positively related to the change in educational attainment. These results are robust to choice of instrument set, productivity measurement, the choice of growth model, measurement of saving, inclusion of covariates, and to the choice of estimation period. The essay contributes to the literature explaining that productivity growth drives fixed and human capital accumulation as in the growth controversy it has never been asked and the factor accumulation hypothesis never explains from where the savings come and very little work, if any, has investigated whether growth influences education. The findings of the existing empirical literature suggest that the effect of income inequality on savings is either positive or insignificant. The reason for such findings of the existing empirical literature may be that in estimating the coefficient of income inequality on savings the positive feed-back effect from savings to income inequality has not been dealt with adequately. The second essay takes this endogeneity arising from positive feed-back effect of savings to income inequality in to consideration and applies a two-way identification strategy and unique data covering the period 1870-2011 for 20 OECD countries andfinds that income inequality affects savings negatively. The finding is robust to variation in estimation periods, different measures of saving and inequality and the inclusion of important confounding variables such as financial development, growth and education. Following the seminal work of Layard, Nickell, and Jackman (2005) that propounds no linkage between capital accumulation and unemployment based on the assumption of elasticity of substitution between capital and labour equals unity the role of capital accumulation has been deemphasized for long in explaining unemployment. And the emphasis was on labour market deregulation for reducing unemployment as labour market rigidities arising from trade union power; labour taxes, generous welfare benefits, strict employment protection, and other institutional factors were considered to be the main determinants of unemployment. The third essay using the data for the largest number of countries over the longest period of time - 21 OECD countries over the period 1870-2011- with wage push and aggregate demand factors being taken in to account finds that capital accumulation is important in reducing OECD unemployment.
Essays On Human Capital Accumulation And Inequality
DOWNLOAD
Author : Claudia Trentini
language : en
Publisher:
Release Date : 2009
Essays On Human Capital Accumulation And Inequality written by Claudia Trentini and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with Economic development categories.
Growing Income Inequalities
DOWNLOAD
Author : J. Hellier
language : en
Publisher: Springer
Release Date : 2012-11-13
Growing Income Inequalities written by J. Hellier and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-11-13 with Business & Economics categories.
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.
Economic Development The Family And Income Distribution
DOWNLOAD
Author : Simon Kuznets
language : en
Publisher: Cambridge University Press
Release Date : 2002-09-12
Economic Development The Family And Income Distribution written by Simon Kuznets and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002-09-12 with Business & Economics categories.
This is a collection of essays by Simon Kuznets, winner of the 1971 Nobel Memorial Prize in Economic Sciences, published posthumously. It represents the primary concerns of his research at a late phase of his career, as well as themes from his earlier work. The first four chapters deal with 'modern economic growth'. Chapters five to seven introduce the main theme of the remainder of the volume: interrelations between demographic change and income inequality. Chapters eight to ten draw on a wider set of data to make comparisons of income inequality among societies at widely different levels of development. Chapter eleven returns to data for the United States to develop more fully the importance of differing childbearing patterns for income inequality. In the introduction Professor Richard Easterlin discusses the relationship of the essays to the balance of Kuznets's writings. In the afterword Professor Robert Fogel discusses the methodologies favoured by Kuznets.
Human Capital Economic Growth And Income Distribution Three Essays On Human Capital
DOWNLOAD
Author : Chang Gyu Kwag
language : en
Publisher:
Release Date : 1991
Human Capital Economic Growth And Income Distribution Three Essays On Human Capital written by Chang Gyu Kwag and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1991 with categories.
Essay one is concerned with how and why an individual invests in human capital and how tax policy affects investment in human capital. We examine optimal investment in human capital and the effect of tax policy on human capital formation, and test several hypotheses derived from the theory using U.S. time-series data. Investment in human capital in terms of college enrollment rates is positively related to family income, rate of return to human capital, and unemployment rates, while it is negatively related to educational cost, and rate of return to physical capital. In addition, the average income tax rates show a negative effect on college enrollment rates. Essay two discusses human capital and economic growth. We first investigate the elasticities of substitution among inputs using the nested constant elasticity of substitution production function to focus on the so-called capital-skill complementarity hypothesis. We here compare two models: one is a model with human capital and raw labor, and the other is a model with higher skilled labor and lower skilled labor. In both models, the elasticities of substitution among inputs are very low, but the complementarity hypothesis is still weakly confirmed. Human capital turns out to be essential in achieving medium-term economic growth empirically. We also demonstrate the key role of human capital in the long-term steady state within the context of the endogenous growth model. Essay three considers the role of human capital on income distribution. Using the nested CES production function, we first derive factor shares, and then examine the relationship between functional and personal income distribution. An increase in share of labor income reduces overall income inequality, while an increase in share of transfer income has a negative effect on income distribution. Human capital, especially primary and secondary level of human capital stock, is a crucial factor in reducing income inequality. Finally, this study develops and presents new estimates of human capital stock in the United States, as well as annual earnings, and labor force by education level for the period 1947-1989. Data shows that the growth rate of GNP is very closely related to that of human capital stock. (Abstract shortened with permission of author.).
Economic Growth Inequality And Migration
DOWNLOAD
Author : Amnon Levy
language : en
Publisher: Edward Elgar Publishing
Release Date : 2002
Economic Growth Inequality And Migration written by Amnon Levy and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002 with Business & Economics categories.
Levy (economics, U. of Wollongong, Australia) and Faria (social sciences, U. of Texas, US) present 18 case studies exploring the interlinkages between economic growth, inequality, and migration. Each of the studies is concerned with at least two of the three phenomena, and the papers are grouped according to which of the three they most concentrate on. Studies address the relation between government policies and income distribution; issues of unemployment, assimilation, expected returns, and risks as they relate to migration; and the impact of trade on growth. Case studies explore issues on both regional and national bases. Annotation copyrighted by Book News, Inc., Portland, OR
Inequality Of Opportunity Inequality Of Income And Economic Growth
DOWNLOAD
Author : Mr.Shekhar Aiyar
language : en
Publisher: International Monetary Fund
Release Date : 2019-02-15
Inequality Of Opportunity Inequality Of Income And Economic Growth written by Mr.Shekhar Aiyar and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-02-15 with Business & Economics categories.
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.
Rising Inequality In China
DOWNLOAD
Author : Shi Li
language : en
Publisher: Cambridge University Press
Release Date : 2013-10-31
Rising Inequality In China written by Shi Li and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-10-31 with Business & Economics categories.
This book examines the evolution of economic inequality in China from 2002 to 2007; a sequel to Inequality and Public Policy in China (2008).
Causes And Consequences Of Income Inequality
DOWNLOAD
Author : Ms.Era Dabla-Norris
language : en
Publisher: International Monetary Fund
Release Date : 2015-06-15
Causes And Consequences Of Income Inequality written by Ms.Era Dabla-Norris and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-06-15 with Business & Economics categories.
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.
Essays On The Processes Of Economic Growth
DOWNLOAD
Author : Nadzeya Abramava
language : en
Publisher:
Release Date : 2015
Essays On The Processes Of Economic Growth written by Nadzeya Abramava and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015 with Economic development categories.
This dissertation consists of three essays on the processes of economic growth. In the first chapter I show how growth behaves when protesting occurs. I continue with the topic of protests in the second chapter, where I consider the effect of political unrest on economic inequality. In the final chapter, I study the impact joining the WTO has on the composition of trade flows that may affect long term growth. Protests occur regularly and at times involve millions of people, often disrupting economic activity. In Chapter 1 I examine the link between economic growth and protest events using the Global Database of Events, Language and Tone (GDELT). This dataset provides daily observations on protests and similar events for a panel of 150 countries over the past three decades. I show that protests have a significant negative relationship with short term growth. On average, protest activity is associated with a drop in growth of at most 1.5 percentage points of growth rate in the year of the protest event(s) with this effect persisting in subsequent years. Further, I reject the hypothesis that protesting can improve or damage GDP growth in the longer run. Protests also impact negatively other aggregate outcomes that may serve as channels through which protesting influences the growth rate. I establish that during the year of the protest gross capital formation declines, while unemployment goes up. The magnitudes of these effects are non-trivial even though the overall impact on economic growth is quantitatively small. Protesting might affect the level of inequality in a country through post-protest redistributive policies. In Chapter 2 I study the relationship between protesting and inequality using a panel of 74 countries over 1979-2012. I find that across most of the specifications the effect of protesting on inequality, determined by the Gini Index, is negative and statistically significant. On average, a 1% increase in protest activity decreases the Gini index immediately by 0.01 points. These results are robust to different ways of defining the protest variable itself such as number of protests or the intensity of protesting measured by the media coverage. A binary measure based on the intensity of protesting indicates that a large enough protest reduces inequality, lowering the Gini Index by 1.6 -- 2.1 points. When countries join the World Trade Organization (WTO), they gain mostly unhindered access to new markets allowing them to trade more. While it has been shown in the literature that after accession to the WTO volume of trade increases for the new members, it is unclear what effect, if any, the membership has on the composition of trade. Developing countries may be negatively affected through crowding-out of vital sectors due to foreign competition or positively --- through strengthening of the sectors with comparative advantage. Using gravity equation estimation I show that while the volume of exports and imports increases after countries become WTO members, the resulting changes in the composition of trade differ depending on the sector and the income level. For example, in a developing country accession to the WTO increases the share of textile sector in total imports by 0.5%, while the same sector's share decreases by 33% when it comes to exports.