See Program Here

Total Page:16

File Type:pdf, Size:1020Kb

See Program Here PROGRAM COMMITTE CENTRO DE INVESTIGACIÓN Y DOCENCIA ECONÓMICAS (CIDE) · Kaushik Basu (Chair) · Joseph Stiglitz CIDE, headquartered in Mexico City and with another campus is Aguasca- · Ajit Mishra · Justin Lin lientes, is a center for research and higher education that specializes in · Alejandro Jose Lopez-Feldman · Kanishka Dam social sciences. It forms part of a network of public research centers of the · André Portela Souza · Luis-Felipe Lopez-Calva National Council of Science and Technology (CONACYT). During its four · Asli Demirguc-Kunt · Nancy Qian decades of existence it has consolidated as a centre for relevant theoretical · Chatib Basri · Omar Licandro and empirical debate concerning the national and international academic · Chenggang Xu · Coralia Quintero agenda, and has generated knowledge for public policy making.CIDE’s · Eliana La Ferrara · Rohini Somanathan principal objective is to contribute to the country’s development by offering · Elisabeth Sadoulet · Santiago Levy rigorous and relevant knowledge, as well as developing a new generation · Erik Berglof · Timothy Besley of leaders that are capable of performing in a creative and responsible · Fred Finan · Tom Stuart Wilkening manner, in an open and competitive world. · Gaël Giraud · Susan Parker · Gita Gopinath · Haroon Bhorat CIDE offers both undergraduate and graduate degrees in several areas of · Jaime Saavedra · Hodaka Morita social sciences to students from Mexico and abroad. For more information · Joan Esteban · Homa Zarghamee about CIDE please visit http://cide.edu/en · Jorge Familiar Calderon · Jackie Wahba LOCAL ORGANIZING COMMITTEE, CIDE · Fausto Hernández Trillo · Kanishka Dam · Alejandro López-Feldman · Susan Parker INTERNATIONAL ECONOMIC ASSOCIATION (IEA) The International Economic Association (IEA) is a world federation of economic associations from both developed and developing countries. Founded in 1950, this Non Governmental Organization aims to promote the advance of economic science and policy, especially on issues of global importance, through enhan- ced contact and understanding among economists from different parts of the world. Its mission is accomplished through the organization of scientific meetings, and publications. To this end, the IEA holds a triennial world congress, workshops and roundtables all around the globe, and supports the Research Institute for Development, Growth and Economics (RIDGE). All these activities bring together well reputed experts who examine pressing policies and analytic issues of global importance. The IEA has published the proceedings of these World Congresses and Roundtables in over one hundred and seventy five volumes. Many of these volumes have been highly influential. The leadership of the IEA has included a range of distinguished economists, including Joseph Stiglitz, Tony Atkinson, Kenneth Arrow, Amartya Sen, Jacques Drèze, Robert Solow and Janos Kornai. The current president is Tim Besley, Kaushik Basu is President-elect and Dani Rodrik Vice President. For more information visit: www.iea-world.org WELCOME MESSAGE Welcome to the 18 th Congress of the International Economic Association. The Congress is one of the largest gatherings of its kind and brings people from all over the world to discuss their research and policy issues of mutual concern and to address and debate the big economic and policy challenges of our time. We are looking forward to vibrant discussion and engagement with new ideas in the coming days. The IEA relies on cooperation for its success and we would not be here in Mexico without the commitment of our host CIDE to whom we are extremely grateful. We are hugely appreciative of the tireless work of the programme committee. We are also extremely grateful to Andrea Cavallo, the Association Manager and Congress supremo who has played a pivotal role throughout. The program committee has helped in the selection of papers and organization of sessions along with a range of partner organizations – we are grateful to all of them. The Congress would not have been possible without generous sponsorship. We would like to thank TATA, AFD, Chair Energy and Prosperity, Google, IADB and the World Bank. Following the global financial crisis, there was talk also of a crisis in the economics profession. But it is a case of plus ca change plus c’est la meme chose. The terms of debate is certainly changing with more attention paid to such things as sustainability, inequality and market imperfections. But what has not changed is the desire of large groups of economists to be working on the issues that matter and exciting new research, much of it showcased at this Congress, is emerging on these and other important topics. To the outside observer, it may seem that it is business as usual but the astute observer will see the visible signs of change in the way that economics is evolving. Areas like behavioural economics, political economy and the economics of culture continue to develop alongside more traditional fields of the discipline. What matters most is that research is focused on the most important issues and that economics is both relevant and rigorous in its approach. The IEA values diversity both in terms of perspectives on economic problems and the representation of participants. Our aim is to represent the global economics profession in all of its dimensions. We continue to find new members keen to join in this global project and we are welcoming new members from Czech Economic Association, Slovak Economic Association, South Africa Economic Association, Asian Management Economics Commerce Association, Societat Catalana de Economia and Young African Economists Association to their first World Congress as members. But we do not take our loyal existing members for granted and we are grate- ful for their continuing support, recognizing that there is a role for a global federation of economics’ associations. We will continue to organize roundtables in the period leading up to the next World Congress with the first one taking place less than one month after this Congress. The next World Congress is scheduled for 2020 when we look forward to welcoming you back when Dani Rodrik will be taking over as President. Finally, we wish you an enjoyable and productive stay in Mexico! Tim Besley, President Kaushik Basu, President-Elect and Congress Chair REGISTRATION | Foyer de los Caminos Reales, Camino Real Hotel (Open at 8:00am) - 75 mins OPENING REMARKS | Minister of Finance Mexico, José Antonio Meade Coffee Break - Foyer de los Caminos Reales, Camino Real Hotel - 15 mins 10:15 to PLENARY: DYNAMICS OF INEQUALITY 11:30 Salón Camino Real, Camino Real Hotel - Speaker: Joseph Stiglitz | Chair: Kaushik Basu | Discussant: Gaël Giraud Coffee Break - Foyer de los Caminos Reales, Camino Real Hotel - 15 mins Oaxaca II Camino Real Hotel Taxco I Camino Real Hotel Salón Camino Real I Taxco II Camino Real Hotel Palmas Sheraton Hotel Sol I Sheraton Hotel Invited Academic Invited Academic Invited Academic Invited Academic STRUCTURAL CHANGE DEMOGRAPHY, POLITICS AND TOPICS IN EDUCATION Invited Academic 11:45 ACROSS URBANIZATION AND INSTITUTIONS AT AND HEALTH IN NEW ERA OF to 13:15 OCCUPATIONS PRODUCTIVITY CRITICAL JUNCTURES DEVELOPMENT GLOBALIZATION? Chair: Omar Licandro Chair: German Cubas Chair: Jeremiah Dittmar Chair: Susan Parker Chair: Dalia Marin RIDGE RIDGE LSE CIDE Lunch Session | Financing Development Through Long Term Capital Salón Camino Real, Camino Real Hotel - 75 mins Sponsored by Speakers: Graeme Pitkethly, Unilever | Mark Wiseman, BlackRock | Mukund Rajan, TATA | Timothy Koller, McKinsey Invited Academic Invited Academic Invited Academic UNDERSTANDING UNDERSTANDING THE THE MONETARY AND INTERNATIONAL PRODUCTIVITY GAP IN 14:30 LATIN AMERICA FISCAL HISTORY OF to TRADE, MACRO AND LATIN AMERICA 16:00 MIGRATION Chair: Manuel Toledo / Fernando Chair: Omar Licandro Chair: Lorenzo Caliendo Álvarez-Parra RIDGE RIDGE CAF Coffee Break - 15 mins Contributed Contributed Invited Academic Contributed Contributed Contributed 16:15 HUMAN CAPITAL / LABOUR ENVIRONMENTAL & HLEG REPORT ENVIRONMENTAL to MACRO APPLIED / EXPERIMENTAL Speakers: Miguel Niño-Zarazúa (29), Adan Silverio INEQUALITY / MINING 17:45 Speakers: Speakers: Manuel Hernandez (241), Murillo (600), Carlos Gradín (409), Gunes Gokmen (625) Speakers: Karsten Staehr (297), Priscila Speakers: Alexander Kiritikos (308), Speakers: Camilo Pecha (447), Anthony Joseph Stiglitz, Araceli Ortega Díaz (285), Edgardo Sica Castro (344), Wilson Pérez (310) Abul Barkat (512), Gerhard Riener (103) Mveyange (66), Kanika Mahajan (38) Ravi Kanbur (401) 18:15 18:30 to Welcome Reception - Sheraton Hotel 20:00 REGISTRATION | Foyer de los Caminos Reales, Camino Real Hotel (Open at 8:00am) - 75 mins OPENING REMARKS | Minister of Finance Mexico, José Antonio Meade Coffee Break - Foyer de los Caminos Reales, Camino Real Hotel - 15 mins 10:15 PLENARY: DYNAMICS OF INEQUALITY to 11:30 Salón Camino Real, Camino Real Hotel - Speaker: Joseph Stiglitz | Chair: Kaushik Basu | Discussant: Gaël Giraud Coffee Break - Foyer de los Caminos Reales, Camino Real Hotel - 15 mins Sol II Sheraton Hotel Morelia Camino Real Hotel Guerrero Camino Real Hotel Veracruz Camino Real Hotel Luna Sheraton Hotel Tundra Sheraton Hotel Oasis Sheraton Hotel Invited Academic FRONTIERS IN THE Invited Academic ANALYSIS OF ADVANCES IN INTERGENERATIONAL 11:45 INTERNATIONAL to MOBILITY AND EQUALITY 13:15 MACRO OF OPPORTUNITY: A Chair: Charles Engel GLOBAL PERSPECTIVE Chair: Luis Felipe Lopez Calva RIDGE WORLD BANK Lunch Session | Financing Development
Recommended publications
  • Exchange Rate Policies
    Exchange Rate Policies Charles Engel Department of Economics, University of Wisconsin Research Associate, National Bureau of Economic Research Senior Fellow, Globalization and Monetary Policy Institute, Federal Reserve Bank of Dallas July 28, 2009 Email: [email protected]. Address: Department of Economics, 1180 Observatory Drive, University of Wisconsin, Madison, WI 53706-1393, USA. This note was prepared as background for the wrap-up conferences of the BIS Asian research programme, The International Financial Crisis and Policy Challenges in Asia and the Pacific, in Shanghai, 6-8 August 2009. I acknowledge support for my research from the Duisenberg Fellowship at the European Central Bank, and from the National Science Foundation under grant #MSN121092. A debate has continued over many years on the desirable degree of foreign exchange rate flexibility. One side of the debate has sometimes made the case that the exchange rate should be freely determined by market forces, independently of any foreign exchange intervention or targeting by central bank monetary policy. This argument takes the stance that the market can best determine the appropriate level of the exchange rate. From the standpoint of modern macroeconomics, particularly from the view of New Keynesian economics, that stance is potentially self-contradictory. Markets are able to achieve efficient, welfare-maximizing outcomes when they operate without distortions – that is, when markets are competitive and prices adjust instantly to reflect underlying costs. But in such a world, the nominal exchange rate regime is of no consequence in determining the real allocation of resources. The real exchange rate (the consumer price level in one country compared to the level in another country, expressed in a common currency) and the terms of trade (the price of a country’s imports relative to its exports) could adjust freely to efficient levels under a floating nominal exchange rate regime, a managed float or even a fixed exchange rate regime if goods markets were perfectly efficient.
    [Show full text]
  • The Econometric Society European Region Aide Mémoire
    The Econometric Society European Region Aide M´emoire March 22, 2021 1 European Standing Committee 2 1.1 Responsibilities . .2 1.2 Membership . .2 1.3 Procedures . .4 2 Econometric Society European Meeting (ESEM) 5 2.1 Timing and Format . .5 2.2 Invited Sessions . .6 2.3 Contributed Sessions . .7 2.4 Other Events . .8 3 European Winter Meeting (EWMES) 9 3.1 Scope of the Meeting . .9 3.2 Timing and Format . 10 3.3 Selection Process . 10 4 Appendices 11 4.1 Appendix A: Members of the Standing Committee . 11 4.2 Appendix B: Winter Meetings (since 2014) and Regional Consultants (2009-2013) . 27 4.3 Appendix C: ESEM Locations . 37 4.4 Appendix D: Programme Chairs ESEM & EEA . 38 4.5 Appendix E: Invited Speakers ESEM . 39 4.6 Appendix F: Winners of the ESEM Awards . 43 4.7 Appendix G: Countries in the Region Europe and Other Areas ........... 44 This Aide M´emoire contains a detailed description of the organisation and procedures of the Econometric Society within the European Region. It complements the Rules and Procedures of the Econometric Society. It is maintained and regularly updated by the Secretary of the European Standing Committee in accordance with the policies and decisions of the Committee. The Econometric Society { European Region { Aide Memoire´ 1 European Standing Committee 1.1 Responsibilities 1. The European Standing Committee is responsible for the organisation of the activities of the Econometric Society within the Region Europe and Other Areas.1 It should undertake the consideration of any activities in the Region that promote interaction among those interested in the objectives of the Society, as they are stated in its Constitution.
    [Show full text]
  • Income Inequality and the Labour Market in Britain and the US
    Journal of Public Economics 162 (2018) 48–62 Contents lists available at ScienceDirect Journal of Public Economics journal homepage: www.elsevier.com/locate/jpube Income inequality and the labour market in Britain and the US Richard Blundell a,⁎, Robert Joyce b, Agnes Norris Keiller a, James P. Ziliak c a University College London, Institute for Fiscal Studies, United Kingdom b Institute for Fiscal Studies, United Kingdom c University of Kentucky, Institute for Fiscal Studies, United States article info abstract Article history: We study household income inequality in both Great Britain and the United States and the interplay between la- Received 31 October 2017 bour market earnings and the tax system. While both Britain and the US have witnessed secular increases in 90/ Received in revised form 15 March 2018 10 male earnings inequality over the last three decades, this measure of inequality in net family income has de- Accepted 2 April 2018 clined in Britain while it has risen in the US. To better understand these comparisons, we examine the interaction Available online 23 April 2018 between labour market earnings in the family, assortative mating, the tax and welfare-benefit system and house- hold income inequality. We find that both countries have witnessed sizeable changes in employment which have Keywords: Inequality primarily occurred on the extensive margin in the US and on the intensive margin in Britain. Increases in the gen- Family income erosity of the welfare system in Britain played a key role in equalizing net income growth across the wage distri- Earnings bution, whereas the relatively weak safety net available to non-workers in the US mean this growing group has seen particularly adverse developments in their net incomes.
    [Show full text]
  • Boa Cover Pages
    5TH EUROSTAT COLLOQUIUM ON MODERN TOOLS FOR BUSINESS CYCLE ANALYSIS Jointly organised by EUROSTAT and European University Institute (Florence, Italy) Luxembourg, 29th September – 1st October 2008 Monetary Policies and Low-Frequency Manifestations of the Quantity Theory Thomas Sargent Paolo Surico Monetary Policies and Low-Frequency Manifestations of the Quantity Theory∗ Thomas J. Sargent† Paolo Surico‡ September 2008 Abstract To detect the quantity theory of money, we follow Lucas (1980) by looking at scatter plots of filtered time series of inflation and money growth rates and interest rates and money growth rates. Like Whiteman (1984), we relate those scatter plots to sums of two-sided distributed lag coefficients constructed from fixed-coefficient and time-varying VARs for U.S. data from 1900-2005. We interpret outcomes in terms of population values of those sums of coefficients implied by two DSGE models. The DSGE models make the sums of weights depend on the monetary policy rule via cross-equation restrictions of a type that Lucas (1972) and Sargent (1971) emphasized in the context of testing the natural unemployment rate hypothesis. When the U.S. data are extended beyond Lucas’s 1955-1975 period, the patterns revealed by scatter plots mutate in ways that we want to attribute to prevailing monetary policy rules. JEL classification: E4, E5, N1 Key words: quantity theory, policy regimes, time-varying VAR ∗We wish to thank Tim Besley, Efrem Castelnuovo, Robert E. Lucas, Jr., Haroon Mumtaz, and Francesco Zanetti for useful discussions. Sargent thanks the Bank of England for providing research support when he was a Houblon-Norman Fellow.
    [Show full text]
  • Tax Policy Reform: the Role of Empirical Evidence
    TAX POLICY REFORM: THE ROLE OF EMPIRICAL EVIDENCE Richard Blundell University College London and Institute for Fiscal Studies Abstract To understand the role of evidence in tax policy design, this paper organizes the empirical analysis of reform under five loosely related headings: (i) key margins of adjustment, (ii) measurement of effective tax rates, (iii) the importance of information and complexity, (iv) evidence on the size of responses, and (v) implications from theory for tax design. The context for the discussion is the recently published Mirrlees Review of tax reform. Although the Review focused on all aspects of tax reform, this paper highlights the taxation of earnings. It also comments on earnings taxation in the context of VAT base-broadening reforms and the taxation of capital (JEL: H2, H3). 1. Introduction How should evidence be used in the study of tax design? What is the appropriate balance between theory and empirics? These questions lay at the heart of the Mirrlees Review. Motivated by the aim to develop a broad set of principles for what makes a good tax system, the Review was an attempt to base tax reform on the large body of economic theory and empirical evidence. It was inspired by the Meade Report (1978) with the idea to review tax design from first principles for modern open economies in general and for the UK in particular. The UK over the past thirty years would be the working laboratory. The Mirrlees Review was published in two volumes: Dimensions of Tax Design (Mirrlees et al. 2010) bringing together expert evidence across a wide range of aspects of tax reform, and Tax by Design (Mirrlees et al.
    [Show full text]
  • New Institutional Economics: a State-Of-The-Art Review for Economic Sociologists by Rinat Menyashev, Timur Natkhov, Leonid Polishchuk, and Georgiy Syunyaev 12
    A Service of Leibniz-Informationszentrum econstor Wirtschaft Leibniz Information Centre Make Your Publications Visible. zbw for Economics Max Planck Institute for the Study of Societies (Cologne) (Ed.) Periodical Part economic sociology_the european electronic newsletter, Volume 13, Number 1-3 economic sociology_the european electronic newsletter Provided in Cooperation with: Max Planck Institute for the Study of Societies (MPIfG), Cologne Suggested Citation: Max Planck Institute for the Study of Societies (Cologne) (Ed.) (2011) : economic sociology_the european electronic newsletter, Volume 13, Number 1-3, economic sociology_the european electronic newsletter, ISSN 1871-3351, Max Planck Institute for the Study of Societies (MPIfG), Cologne, Vol. 13, Iss. 1-3 This Version is available at: http://hdl.handle.net/10419/155978 Standard-Nutzungsbedingungen: Terms of use: Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Documents in EconStor may be saved and copied for your Zwecken und zum Privatgebrauch gespeichert und kopiert werden. personal and scholarly purposes. Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle You are not to copy documents for public or commercial Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich purposes, to exhibit the documents publicly, to make them machen, vertreiben oder anderweitig nutzen. publicly available on the internet, or to distribute or otherwise use the documents in public. Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, If the documents have been made available under an Open gelten abweichend von diesen Nutzungsbedingungen die in der dort Content Licence (especially Creative Commons Licences), you genannten Lizenz gewährten Nutzungsrechte. may exercise further usage rights as specified in the indicated licence.
    [Show full text]
  • The Real Exchange Rate, Real Interest Rates, and the Risk Premium
    IHS Economics Series Working Paper 265 April 2011 The Real Exchange Rate, Real Interest Rates, and the Risk Premium Charles Engel Impressum Author(s): Charles Engel Title: The Real Exchange Rate, Real Interest Rates, and the Risk Premium ISSN: Unspecified 2011 Institut für Höhere Studien - Institute for Advanced Studies (IHS) Josefstädter Straße 39, A-1080 Wien E-Mail: offi [email protected] Web: ww w .ihs.ac. a t All IHS Working Papers are available online: http://irihs. ihs. ac.at/view/ihs_series/ This paper is available for download without charge at: https://irihs.ihs.ac.at/id/eprint/2050/ 265 Reihe Ökonomie Economics Series The Real Exchange Rate, Real Interest Rates, and the Risk Premium Charles Engel 265 Reihe Ökonomie Economics Series The Real Exchange Rate, Real Interest Rates, and the Risk Premium Charles Engel April 2011 Institut für Höhere Studien (IHS), Wien Institute for Advanced Studies, Vienna Contact: Charles Engel Department of Economics University of Wisconsin 1180 Observatory Drive Madison, WI 53706-1393 email: [email protected] Founded in 1963 by two prominent Austrians living in exile – the sociologist Paul F. Lazarsfeld and the economist Oskar Morgenstern – with the financial support from the Ford Foundation, the Austrian Federal Ministry of Education and the City of Vienna, the Institute for Advanced Studies (IHS) is the first institution for postgraduate education and research in economics and the social sciences in Austria. The Economics Series presents research done at the Department of Economics and Finance and aims to share “work in progress” in a timely way before formal publication.
    [Show full text]
  • Michael BEST CV
    MICHAEL CARLOS BEST Stanford Institute for Economic Policy Research (SIEPR) | [email protected]| personal.lse.ac.uk/bestm John A. & Cynthia Fry Gunn Building, 366 Galvez Street, Stanford, CA 94305, USA | +1 (415) 316 5006 October 2014 EMPLOYMENT 2014-2017 Stanford Institute for Economic Policy Research, Stanford University Postdoctoral Fellow EDUCATION 2009-2014 London School of Economics PhD Economics 2011-2012 UC Berkeley Economics, Center for Equitable Growth Visiting PhD Student 2008-2009 London School of Economics MRes Economics (distinction) 2006-2008 University of Oxford MPhil Economics (distinction) 2003-2006 London School of Economics BSc Government & Economics PUBLICATIONS Production vs Revenue Efficiency With Limited Tax Capacity: Theory and Evidence From Pakistan (with Anne Brockmeyer, Henrik Kleven, Johannes Spinnewijn and Mazhar Waseem) September 2014. Forth- coming, Journal of Political Economy WORKING PAPERS Salary Misreporting and the Role of Firms in Workers’ Responses to Taxes: Evidence from Pakistan May 2014 Housing Market Responses to Transaction Taxes: Evidence from Notches and Stimulus in the UK (with Henrik Kleven) May 2014 Optimal Income Taxation with Career Effects of Work Effort (with Henrik Kleven) February 2013. Revise & Resubmit at the American Economic Review WORK IN PROGRESS Motivating Bureaucrats: Autonomy vs Performance Pay for Public Procurement in Pakistan (with Ori- ana Bandiera, Adnan Khan and Andrea Prat) The Challenge of Taxing Small Businesses in Mexico (with Miguel Almunia) Haste Makes Waste:
    [Show full text]
  • The New Political Economy
    The New Political Economy Timothy Besley London School of Economics November 8, 2004 1 Introduction It is a great honour to give this year’sKeynes lecture. I have chosen as my subject the New Political Economy, a body of research and thinking that has ‡ourished in the past …fteen years or so at the interface between economics and politics. At the margin the New Political Economy reverses the split that occurred between the disciplines of economics and political science at the end of the nineteenth century. The aim of the New Political Economy is to understand important issues that arise in the policy sphere.1 It is not, as is occasionally hinted, an e¤ort by economists to colonize political science. Rather, the main concern is to extend the competence of economists to analyze issues that require some facility with economic and political decision making. This lecture is not in any sense a survey of the …eld. It is a highly selective and personal view of the motivation behind the …eld and some of the key themes that link the literature. Thus, it represents a manifesto presented in the hope that somebody who encounters these ideas for the …rst time here might be tempted to delve further into the literature and even contribute to it. This paper is based on the Keynes lecture delivered at the British Academy on October 13th 2004. I am indebted to Pete Boetkke, Mary Morgan and Torsten Persson for helpful comments on an earlier draft of this lecture and Steve Coate for numerous illuminating discussions.
    [Show full text]
  • Human Development Research Paper 2011/06 Economic Crises And
    Human Development Research Paper 2011/06 Economic crises and Inequality A B Atkinson and Salvatore Morelli United Nations Development Programme Human Development Reports Research Paper November 2011 Human Development Research Paper 2011/05 Sustainability in the presence of global warming: theory and empirics Humberto Llavador, John E. Roemer, and Joaquim Silvestre United Nations Development Programme Human Development Reports Research Paper 2011/06 November 2011 Economic crises and Inequality A B Atkinson and Salvatore Morelli A B Atkinson is a Fellow of Nuffield College and Centennial Professor at the London School of Economics. E-mail: [email protected]. Salvatore Morelli is a D Phil student in the Department of Economics, University of Oxford. E-mail: [email protected]. Comments should be addressed by email to the author(s). Abstract Sustainability for a society means long-term viability, but also the ability to cope with economic crises and disasters. Just as with natural disasters, we can minimize the chance of them occurring and set in place policies to protect the world’s citizens against their consequences. This paper is concerned with the impact of economic crises on the inequality of resources and with the impact of inequality on the probability of economic crises. Is it the poor who bear the brunt? Or are crises followed by a reversal of previous boom in top incomes? Reversing the question, was the 2007 financial crisis the result of prior increases in inequality? Have previous periods of high inequality led to crises? What can we learn from previous crises – such as those in Nordic countries and the Asian financial crisis? How far can public policy moderate the impact of economic crises? Keywords: Economic crises, Poverty, Inequality.
    [Show full text]
  • Income Inequality and the Labour Market in Britain and the US
    UKCPR Discussion Paper Series University of Kentucky Center for DP 2017-07 Poverty Research ISSN: 1936-9379 Income inequality and the labour market in Britain and the US Richard Blundell University College London Institute for Fiscal Studies Robert Joyce Institute for Fiscal Studies Agnes Norris Keiller Institute for Fiscal Studies University College London James P. Ziliak University of Kentucky October 2017 Preferred citation Blundell, R., et al. (2017, Oct.). Income inequality and the labour market in Britain and the US. University of Kentucky Center for Poverty Research Discussion Paper Series, DP2017-07. Re- trieved [Date] from http://www.cpr.uky.edu/research. Author correspondence Richard Blundell, [email protected] University of Kentucky Center for Poverty Research, 550 South Limestone, 234 Gatton Building, Lexington, KY, 40506-0034 Phone: 859-257-7641. E-mail: [email protected] www.ukcpr.org EO/AA Income Inequality and the Labour Market in Britain and the US1 Richard Blundell2, Robert Joyce3, Agnes Norris Keiller4, and James P. Ziliak5 October 2017 Abstract We study household income inequality in both Great Britain and the United States and the interplay between labour market earnings and the tax system. While both Britain and the US have witnessed secular increases in 90/10 male earnings inequality over the last three decades, this measure of inequality in net family income has declined in Britain while it has risen in the US. We study the interplay between labour market earnings in the family, assortative mating, the tax and benefit system and household income inequality. We find that both countries have witnessed sizeable changes in employment which have primarily occurred on the extensive margin in the US and on the intensive margin in Britain.
    [Show full text]
  • International Macroeconomics Prospectus[1]
    International Macroeconomics Prospectus Professor: Ethan Kaplan Spring, 2006 This course will focus on the main area of research in international macroeconomics and international finance: the determination of the exchange rate and the determination of the current account. The exchange rate will be studied in both regular modes and crisis modes under fixed, floating and currency band models. The current account will be studied in both regular as well as crisis modes, incorporating both determinants of levels as well as sustainability issues. The course will begin with a 2-period and then an infinite horizon real-side model of current account determination. Current account determination will then be revisited in the presence of uncertainty. Uncertainty leaves open the possibility of default (Obstfeld-Rogoff, Chapters 1, 2, and 5). The course will then continue with models of sovereign default (Bulow-Rogoff, 1989). Recent theoretical as well as empirical work will be considered. The course will then turn towards the nominal side of the economy, looking at exchange rate determination. The first topic on exchange rate determination will be PPP models. We will discuss empirical work on whether or not there is convergence to PPP in the long and short run. Then, we will look at Dornbusch’s sticky-price model of exchange rate determination (Dornbusch, 1976). Krugman´s currency band model (Krugman, 1991) will also be considered. The course will then consider more recent new open economy macroeconomic models of exchange rate determination, starting with Obsteld-Rogoff (1994). Included in the new open economy macro discussion will be recent work on the impact of net asset holdings in exchange rate and current account determination.
    [Show full text]