世界経済・社会統計 = World development indicators

We investigate whether income inequality affects subsequent growth in a cross-country sample for 1965-90, using the models of Barro (1997), Bleaney and Nishiyama (2002) and Sachs and Warner (1997), with negative results. We then investigate the evolution of income inequality over the same period and its correlation with growth. The dominating feature is inequality convergence across countries. This convergence has been significantly faster amongst developed countries. Growth does not appear to influence the evolution of inequality over time. Outline

https://www.econstor.eu/bitstream/10419/81822/1/02-28.pdf

Economic growth and income inequality

Business Cycles: A Theoretical, Historical, and Statistical Analysis of the Capitalist Process.

Handbook of the Economics of Finance

A comprehensive, rigorous, and up-to-date introduction to growth economics that presents all the major growth paradigms and shows how they can be used to analyze the growth process and growth policy design.This comprehensive introduction to economic growth presents the main facts and puzzles about growth, proposes simple methods and models needed to explain these facts, acquaints the reader with the most recent theoretical and empirical developments, and provides tools with which to analyze policy design. The treatment of growth theory is fully accessible to students with a background no more advanced than elementary calculus and probability theory; the reader need not master all the subtleties of dynamic programming and stochastic processes to learn what is essential about such issues as cross-country convergence, the effects of financial development on growth, and the consequences of globalization. The book, which grew out of courses taught by the authors at Harvard and Brown universities, can be used both by advanced undergraduate and graduate students, and as a reference for professional economists in government or international financial organizations.The Economics of Growth first presents the main growth paradigms: the neoclassical model, the AK model, Romer's product variety model, and the Schumpeterian model. The text then builds on the main paradigms to shed light on the dynamic process of growth and development, discussing such topics as club convergence, directed technical change, the transition from Malthusian stagnation to sustained growth, general purpose technologies, and the recent debate over institutions versus human capital as the primary factor in cross-country income differences. Finally, the book focuses on growth policies?analyzing the effects of liberalizing market competition and entry, education policy, trade liberalization, environmental and resource constraints, and stabilization policy?and the methodology of growth policy design. All chapters include literature reviews and problem sets. An appendix covers basic concepts of econometrics.

/pdf/the-economics-of-growth-2gse6r7ail.pdf

The Economics of Growth

The authors study the empirical, cross-country relationship between macroeconomic volatility and long-run economic growth. They address four central questions: 1) Does the volatility-growth link depend on country and policy characteristics, such as the level of development or trade openness? 2) Does this link reflect a statistically and economically significant causal effect from volatility to growth? 3) Has this relationship been stable over time and has it become stronger in recent decades? 4) Does the volatility-growth connection actually reveal the impact of crises rather than the overall effect of cyclical fluctuations? The authors find that macroeconomic volatility, and long-run economic growth are indeed negatively related. This negative link is exacerbated in countries that are poor, institutionally underdeveloped, undergoing intermediate stages of financial development, or unable to conduct counter-cyclical fiscal policies. They find evidence that this negative relationship actually reflects the harmful effect from volatility to growth. Furthermore, the authors find that the negative effect of volatility on growth has become considerably larger in the past two decades, and that it is mostly due to large recessions rather than normal cyclical fluctuations.

/pdf/volatility-and-growth-54sccpd6vi.pdf

Volatility and growth

We contrast the intergenerational mobility rates of the historically disadvantaged scheduled castes and tribes (SC/ST) in India with the rest of the workforce in terms of their education attainment, occupation choices and wages. Using survey data from successive rounds of the National Sample Survey between 1983 and 2005, we find that intergenerational education and income mobility rates of SC/STs have converged to non-SC/ST levels during this period. Moreover, SC/STs have matched non-SC/STs in occupation mobility rates. We conclude that the last 20 years of structural changes in India have coincided with a breaking down of caste-based barriers to socioeconomic mobility.

/pdf/breaking-the-caste-barrier-intergenerational-mobility-in-28jrmyx053.pdf

Breaking the Caste Barrier Intergenerational Mobility in India

Can large macroeconomic changes also alter the historical economic mobility patterns of various social groups? We examine this question by contrasting the fortunes of the historically disadvantaged scheduled castes and tribes (SC/ST) in India with the rest of the workforce in terms of their education attainment, occupation choices and wages. We study the period 19832005 using household survey data from successive rounds of the National Sample Survey. Our key …ndings are that wages have been converging across the two groups with rising education attainments accounting for the majority of this convergence. SC/STs have also been switching occupations at increasing rates during this period. Moreover, inter-generational education and income mobility rates of SC/STs have converged to non-SC/ST levels. Clearly, the last twenty years of major structural changes in India have seen a sharp improvement in the relative economic fortunes of these historically disadvantaged social groups. In fact, the median wages of SC/STs relative to non-SC/STs in India have surpassed the median wages of blacks relative to whites in the USA.

/pdf/castes-and-labor-mobility-4iujakj0yk.pdf

Castes and Labor Mobility

Why do investors trade a lot in foreign assets and hold so little of them in their portfolios? This paper shows that both observations can arise naturally in the presence of nondiversifiable nontraded consumption risk when each country specializes in production, preferences exhibit consumption home bias, and asset markets are incomplete. Using a general equilibrium two-country, two-sector (tradable and nontradable) model of the world economy with production I show that low diversification occurs because variations in relative prices (i) increase the riskiness of foreign assets and (ii) facilitate risk-sharing across countries. Large and volatile capital flows are necessary to take advantage of international risk premia differentials that occur in response to productivity changes in the nontradable sector. I characterize the optimal portfolio holdings, the evolution of the investment opportunity set, the risk premium, and the dynamics of capital flows using a new methodology for solving dynamic general equilibrium models with incomplete markets and portfolio choice.

https://papers.ssrn.com/sol3/Delivery.cfm/SSRN_ID1266993_code525579.pdf?abstractid=1266993&mirid=4

Viktoria Hnatkovska

Papers

Volatility and growth

Breaking the Caste Barrier Intergenerational Mobility in India

Castes and Labor Mobility

Home Bias and High Turnover: Dynamic Portfolio Choice with Incomplete Markets

Home bias and high turnover: Dynamic portfolio choice with incomplete markets