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作者：Duval-Hernandez, Robert; Fields, Gary S.; Jakubson, George H.
作者单位：Open University of Cyprus; IZA Institute Labor Economics; Centro de Investigacion y Docencia Economicas A.C. (CIDE); Cornell University
摘要：Income changes in an economy are usually assessed through the changes over time in cross-sectional variables such as economy-wide inequality. An alternative is to use panel data to gauge income changes among identified income recipients. In this article, we analyze these two approaches taken together, each measured in multiple ways. We establish that under specific conditions, it is impossible to have falling inequality together with divergent panel income changes. We also provide conditions e...
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作者：Kim, Yun Jung; Zhang, Jing
作者单位：Sogang University; Federal Reserve System - USA; Federal Reserve Bank - Chicago
摘要：Empirically, net capital inflows are procyclical in developed countries and countercyclical in developing countries. Private inflows are procyclical and public inflows are countercyclical in both groups of countries. The dominance of private (public) inflows in developed (developing) countries drives the difference in net inflows. We rationalize these patterns using a two-sector model of a small open economy facing borrowing constraints. Private agents overborrow because of the pecuniary exter...
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作者：Boerner, Lars; Quint, Daniel
作者单位：Martin Luther University Halle Wittenberg; Leibniz Association; Leibniz Institut fur Wirtschaftsforschung Halle (IWH); University of London; King's College London; University of Wisconsin System; University of Wisconsin Madison
摘要：We study the regulation of brokerage in wholesale markets in premodern Central Western Europe. Examining 1,804 sets of rules from 82 cities, we find brokerage was primarily a centralized matchmaking mechanism. Brokerage was more common in towns with larger populations, better access to sea ports and trade routes, and greater political autonomy. Brokers' fee structures varied systematically: price-based fees were more common for highly heterogeneous goods, quantity-based fees for more homogeneo...
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作者：Yum, Minchul
作者单位：University of Mannheim; Centre for Economic Policy Research - UK
摘要：This article constructs an overlapping generations general equilibrium model to explore the extent to which heterogeneity in time investment shapes intergenerational mobility of lifetime income. The calibrated model successfully accounts for untargeted distributional aspects of income mobility. Counterfactual exercises show that removing heterogeneity in parental time investment reduces intergenerational persistence by around 7-8% for early childhood but only marginally in later childhood. Pol...
