Essays On Fiscal Policy Human Capital Inequality And Growth
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Essays On Fiscal Policy Human Capital Inequality And Growth
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Author : Maria Carme Riera i Prunera
language : en
Publisher:
Release Date : 2001
Essays On Fiscal Policy Human Capital Inequality And Growth written by Maria Carme Riera i Prunera and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001 with categories.
Essays On Macroeconomic Growth
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Author : Aditi Mitra
language : en
Publisher:
Release Date : 2012
Essays On Macroeconomic Growth written by Aditi Mitra and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012 with Capital productivity categories.
This paper analyzes the effects of technological change on growth and inequality in a two-sector endogenous growth model. The first two chapters consider two variations of the time path of the shock - discrete and gradual. We find that the effects on inequality depend upon: (i) whether the underlying source of inequality stems from differential initial endowments of human capital or physical capital, (ii) the time horizon over which the productivity increase occurs. Our results suggest that an increase in the growth rate resulting from productivity enhancement in the human capital sector will increase inequality. Productivity enhancement in the final output sector, although not having permanent growth effects, will reduce inequality. In either case the responses of inequality increase, the more gradually the productivity increase takes place. In the third chapter, we study this tradeoff in the context of fiscal policy. Where-as a subsidy to the human capital sector unambiguously increases growth and reduces inequality, the magnitude of the tradeoff depends on whether this subsidy is financed by taxes on income from physical capital, or from human capital. We find that, in general, a tax on human capital is preferable to one on physical capital, since it generates a more favorable tradeoff. Once again, the results eventually depend on the initial source of heterogeneity. The model can generate a positive or negative relationship between inequality and growth, depending upon the relative size of these effects, consistent with the diverse empirical evidence.
Essays On Inequality And Human Capital
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Author : Dohyoung Kwon
language : en
Publisher:
Release Date : 2015
Essays On Inequality And Human Capital written by Dohyoung Kwon and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015 with Capital gains tax categories.
I develop a growth model of human capital accumulation, and show analytically how those factors affect the dynamics of earnings inequality. The calibrated model accounts for 31 percent of the observed differences in earnings inequality between European countries and the US for 2003-07. Differences in returns to education investments and intergenerational earnings persistence are quantitatively important, suggesting the potential role of educational policy in ameliorating rising earnings inequality. Chapter 3, written jointly with Martin Gervais, analyzes the role of endogenous human capital accumulation in shaping optimal fiscal policy within a life-cycle growth model. We show that when investment in human capital is not verifiable---making the tax code incomplete---a non-zero capital income tax becomes optimal in order to alleviate the distortionary effects of the labor income tax on investment in human capital. This is true even if the government has access to a full set of age-dependent labor and capital income taxes. The main result is in sharp contrast to the finding in Jones et al. (1997) that all interest taxes are zero in infinitely-lived agent models with endogenous human capital formation.
Inequality And Economic Policy
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Author : Tom Church
language : en
Publisher: Hoover Press
Release Date : 2015-12-01
Inequality And Economic Policy written by Tom Church and has been published by Hoover Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-12-01 with Political Science categories.
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.
Human Capital Economic Growth And Income Distribution Three Essays On Human Capital
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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.).
Essays On Growth Poverty And Human Capital Inequality
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Author : Nor Yasmin Mhd Bani
language : en
Publisher:
Release Date : 2013
Essays On Growth Poverty And Human Capital Inequality written by Nor Yasmin Mhd Bani and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with categories.
This thesis is a collection of three empirical essays on growth, poverty and human capital inequality in a global panel. The objective of the first essay entitled: "Volatility and Growth: The Role of Education" is to examine whether the significance of volatility-growth relationship varies according to the average years of education. Unlike the focus of the previous literature on establishing the link between volatility and growth, we attempt to establish the channel through which volatility affects growth. The main contribution of our work is that while the level of volatility negatively affects growth, the effect is mediated via education. This is true even for countries with low as well as moderately high levels of volatility. The result of the interaction term, which is the key interest in this chapter, is robust to changes in definitions of variables and specification. This finding is consistent with Canton's (2000) theoretical work. The second essay, "Does Education Reduce Poverty in Developing Countries?" investigates the direct effects of education on poverty in developing countries using dynamic panel estimation techniques. The results suggest that higher education, developed financial system along with growth lead to significant poverty reduction. On the other hand, unequal income distribution is associated with increases in poverty. The results are robust to alternative model specification and estimation techniques. The policy implication is that poverty reduction is more effective if we focus on developing the education system instead of relying on growth and other channels, for example foreign aid or health. The third essay deviates from the usual study of inequality and globalization. It analyzes the relationship between seven measures of globalization and education inequality using a panel of 112 countries covering the period 1970-2009. We use the KOF index of Globalization and its three different dimensions (economic, social, and political) as our main proxy for globalization. In addition, we also employ openness, Foreign Direct Investment (FDI) and freedom to trade internationally (EF Index) in our study. We find that globalization has a robust negative effect on human capital inequality, even when we control for other factors. Results suggest that education inequality increases with globalization in middle and high-income countries but the effect is the opposite in low-income countries. This is the key contribution of our study where we find a variation of impact within the developing countries in contrast to the standard Hecksher-Ohlin Trade Theory. The result also holds when we restricted the sample to specific countries and add several other covariates. In contrast, the alternative measures of globalization have no such robust effects.
Three Essays On The Macroeconomics Of Human Capital And Growth
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Author : Mercy Laita Palamuleni
language : en
Publisher:
Release Date : 2014
Three Essays On The Macroeconomics Of Human Capital And Growth written by Mercy Laita Palamuleni 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.
This dissertation encompasses three essays on the macroeconomics of human capital and economic growth. Below are the individual abstracts for each essay. Essay 1: Does Public Education Spending Increase Human Capital? I investigate the effect of public education spending on the quality of human capital as measured by international student test scores in science and mathematics, conditional on the efficiency of a country's governance. Combining World Bank country level data on government efficiency with rich micro data from the OECD PISA-2009, I estimate a human capital production function from student level data. Prior work suggests that public education expenditures are inconsequential for student achievement. I illustrate that public education spending matters for student test scores when one uses student level data instead of aggregate country level data. These results are robust to controlling for governance measures such as corruption control and regulatory quality. An implication is that less efficient government does not preclude improving test scores through education spending. Essay 2: Inequality of Opportunity in Education: International Evidence from PISA. I provide lower-bound estimates of inequality of opportunity in education (IEO) using micro-data from the Programme for International Student Assessment (PISA). The measure represents variation in student mathematics test scores which can be explained by predetermined circumstances (including parental education, gender, and additional community variables). I explore the heterogeneity of the measure at the top and bottom of the test score distribution, and demonstrate that IEO accounts for 10 percent of the variation in test scores for students at the top and bottom of the test score distribution. Using this inequality measure I establish three main conclusions. (1) IEO decreases overall in response to an increase in preprimary enrollment rates. An implication here is that improvements in early childhood education might mitigate the effects of IEO factors for some students. (2) IEO increases in a manner which relates to overall inequality. This indicates the possibility of a more general persistence to inequality factors. An implication is that equity-based education policies can be a key tool for reducing income inequality. (3) There is evidence of an equity-efficiency tradeoff in education. An implication here is that public education policies aimed at reducing IEO might hinder overall education efficiency, in that it decreases academic achievement for some groups of students. Essay 3: Public Education Spending and Economic Growth: The Role of Governance. Although the theoretical literature often connects public education spending to growth, individual empirical findings sometimes conflict. In this paper I propose that inefficiencies in public education spending might explain these inconsistencies. Using a dataset from both developed and developing countries observed over the period of 1995 to 2010, I demonstrate that the efficiency of public education spending on growth depends on a country's level and quality of governance. I also find evidence that increasing educational spending is associated with higher economic growth only in countries that are less corrupt. These findings have important implications for the formation of effective education policies in developing countries. They illustrate that efficient public education spending augments economic growth in a way that increased spending alone does not match.
Three Essays On Inclusive Growth
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Author : Djeneba Doumbia
language : en
Publisher:
Release Date : 2018
Three Essays On Inclusive Growth written by Djeneba Doumbia and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018 with categories.
This dissertation provides some evidence-based policy lessons focusing on the role of institutional, structural, and fiscal policies in achieving pro-poor and inclusive growth. The first chapter gives an overview of the dissertation and briefly discusses the main data issues and some stylized facts on inequality and poverty. The second chapter examines the role of good governance in fostering pro-poor and inclusive growth at the macroeconomic level. It shows that while all features of good governance enhance pro-poor growth, only government effectiveness and the rule of law tend to promote inclusive growth. The third chapter provides a cross-country analysis investigating how governments can reduce income inequality by changing the composition of public spending while keeping the total level fixed. The results show that reallocating defense spending towards education, and health spending and in particular social and infrastructure spending, is associated with reduced income inequality in countries with political stability. The fourth chapter provides a microeconomic perspective, focusing on how better performance of informal firms could promote shared prosperity in a context of fragility. It shows that firms' performance is a key factor in explaining income differences between entrepreneurs. In addition, the chapter finds that human capital and managerial skills are important engines of informal firms' performance.
Essays On Human Capital Institutions And Economic Growth
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Author : Babar Hussain
language : en
Publisher:
Release Date : 2011
Essays On Human Capital Institutions And Economic Growth written by Babar Hussain and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011 with categories.
Inequality Inclusive Growth And Fiscal Policy In Asia
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Author : Donghyun Park
language : en
Publisher: Routledge
Release Date : 2015-04-17
Inequality Inclusive Growth And Fiscal Policy In Asia written by Donghyun Park and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-04-17 with Business & Economics categories.
Developing Asia’s sustained rapid growth has improved general living standards and lifted hundreds of millions of Asians out of poverty within a generation. Yet the region now finds itself confronting rising inequality. Countries where inequality has worsened over the past 2 decades collectively account for over 80% of Asia’s population. As a result, governments across the region have begun to accord a higher priority to promoting more inclusive growth. The international experience, especially the experience of the advanced economies, suggests that fiscal policy can make a potent contribution to reducing inequality. This book systematically explores the relationship between both sides of fiscal policy—public spending as well as taxes and other fiscal revenues—and inequality in Asia at great depths. On the basis of the analysis, the book sets forth a number of concrete options for rendering fiscal policy a more effective tool for more inclusive growth that benefits all Asians. Inequality, Inclusive Growth, and Fiscal Policy in Asia is written in response to an issue of growing demand in most Asian countries, and it comes at a time when Asian governments are also beginning to use fiscal policy to bridge the glaring disparities between the rich and the poor of the region. As such, the book will be a highly valuable reference for researchers, policy makers, and students as well.