Found 513 article(s) for author 'Inequality'

Production and Welfare: Progress in Economic Measurement

Production and Welfare: Progress in Economic Measurement. Dale Jorgenson, 2017, Paper, “While the GDP was intended by its originators as a measure of production, the absence of a measure of welfare in the national accounts has led to widespread misuse of the GDP to proxy welfare. Measures of welfare are needed to appraise the outcomes of changes in economic policies and evaluate the results. Concepts that describe the income distribution, such as poverty and inequality, fall within the scope of welfare rather than production. This paper reviews recent advances in the measurement of production and welfare within the national accounts, primarily in the United States and the international organizations. Expanding the framework beyond the national accounts has led to important innovations in the measurement of both production and welfare.Link

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Business Responsibilities for Human Rights

Business Responsibilities for Human Rights: A Commentary on Arnold. Nien-he Hsieh, 2017, Paper, “Human rights have come to play a prominent role in debates about the responsibilities of business. In the business ethics literature, there are two approaches to the question of whether businesses have human rights obligations. The ‘moral’ approach conceives of human rights as antecedently existing basic moral rights. The ‘institutional’ approach starts with contemporary human rights practice in which human rights refer to rights enumerated in the Universal Declaration of Human Rights and subsequent international documents, and in which states are the primary duty bearers of human rights. This commentary argues that the implications of adopting one or the other approach are much greater than most scholars recognize, and that we have reason to reject the moral approach and to adopt the institutional approach instead. The commentary highlights key questions that need to be addressed if human rights are to play a central role in framing the responsibilities of business.Link

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Wealth Inequality and Accumulation

Wealth Inequality and Accumulation. Alexandra Killewald, July 2017, Paper, “Research on wealth inequality and accumulation and the data upon which it relies have expanded substantially in the twenty-first century. Although the field has experienced rapid growth, conceptual and methodological challenges remain. We begin by discussing two major unresolved methodological concerns facing wealth research: how to address challenges to causal inference posed by wealth’s cumulative nature and how to operationalize net worth given its highly skewed distribution. Next, we provide an overview of data sources available for wealth research. To underscore the need for continued empirical attention to net worth, we review trends in wealth levels and inequality and evaluate wealth’s distinctiveness as an indicator of social stratification. We then review recent empirical evidence on the effects of wealth on other social outcomes, as well as research on the determinants of wealth. We close with a list of promising avenues for future research on wealth, its causes, and its consequences.Link

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(Mis)perceptions of Inequality

(Mis)perceptions of Inequality. Michael I. Norton, July 24, 2017, Paper, “Laypeople’s beliefs about the current distribution of outcomes such as income and wealth in their country influence their attitudes towards issues ranging from taxation to healthcare–but how accurate are these beliefs? We review the burgeoning literature on (mis)perceptions of inequality. First, we show that people on average misperceive current levels of inequality, typically underestimating the extent of inequality in their country. Second, we delineate potential causes of these misperceptions, including people’s overreliance on cues from their local environment, leading to their erroneous beliefs about both the overall distributions of wealth and income and their place in those distributions. Third, we document that these (mis)perceptions of inequality—but not actual levels of inequality—drive behavior and preferences for redistribution. More promisingly, we review research suggesting that correcting misperceptions influences preferences and policy outcomes.Link

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The G20’s Misguided Globalism

The G20’s Misguided Globalism. Dani Rodrik, July 6, 2017, Opinion, “This year’s G20 summit in Hamburg promises to be among the more interesting in recent years. For one thing, US President Donald Trump, who treats multilateralism and international cooperation with cherished disdain, will be attending for the first time. Trump comes to Hamburg having already walked out of one of the key commitments from last year’s summit – to join the Paris climate agreement “as soon as possible.” And he will not have much enthusiasm for these meetings’ habitual exhortation to foreswear protectionism or provide greater assistance to refugees.Link

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How Social Policy Contributes to the Distribution of Population Health: The Case of Gender Health Equity

How Social Policy Contributes to the Distribution of Population Health: The Case of Gender Health Equity. Jason Beckfield, July 4, 2017, Paper, “In this study we aimed to analyze gender health equity as a case of how social policy contributes to population health. We analyzed three sets of social-investment policies implemented in Europe and previously hypothesized to reduce gender inequity in labor market outcomes: childcare; active labor market programs; and long-term care. Methods: We use 12 indicators of social-investment policies from the OECD Social Expenditure Database, the OECD Family Database, and the Social Policy Indicators’ Parental Leave Benefit Dataset.Link

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Poverty and Human Rights

Poverty and Human Rights. Stephen Marks, 2017, Book Chapter, “This chapter addresses the challenge posed by poverty to the protection of human rights. Human rights define the entitlements considered necessary for a life of dignity in society, including the right to an adequate standard of living, that is, the right to be free from poverty. At this high level of abstraction, the elimination of poverty and realization of human rights are similar in that both clarify what needs to be done so that all human beings enjoy minimal standards of a decent existence. The context for this inquiry is the consensus regarding the imperative of poverty reduction and human rights realization, and the contested interpretations of the relationship between the two. This context will be set out first, followed by a discussion of how international
discourses on human rights and poverty diverge and, finally, how they converge.Link

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Generations of Advantage: Multigenerational Correlations in Family Wealth

Generations of Advantage: Multigenerational Correlations in Family Wealth. Alexandra Killewald, June 2017, Paper, “Inequality in family wealth is high, yet we know little about how much and how wealth inequality is maintained across generations. We argue that a long-term, life-course perspective reflective of wealth’s cumulative nature is crucial to understand the extent and channels of wealth reproduction across generations. Using data from the Panel Study of Income Dynamics that span nearly half a century, we show that a one decile increase in parental wealth position is associated with an increase of about 4 percentiles in offspring wealth position in adulthood.Link

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The Real Effects of Capital Controls: Firm-Level Evidence from a Policy Experiment

The Real Effects of Capital Controls: Firm-Level Evidence from a Policy Experiment. Laura Alfaro, June 2017, Paper, “This paper evaluates the effects of capital controls on firm-level stock returns and real investment using data from Brazil. On average, there is a statistically significant drop in cumulative abnormal returns consistent with an increase in the cost of capital for Brazilian firms following capital control announcements. Large firms and the largest exporting firms appear less negatively affected compared to external-finance-dependent firms, and capital controls on equity inflows have a more negative announcement effect on equity returns than those on debt inflows. Overall, the findings have implications for macro-finance models that abstract from heterogeneity at the firm level to examine the optimality of capital control taxation.Link

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Social determinants of health and the International Monetary Fund

Social determinants of health and the International Monetary Fund. S V Subramanian, June 9, 2017, Paper, “Education is considered an important social determinant of health (1, 2). Higher levels of educational attainment appear to be health-enhancing for those who have them (3), and provide intergenerational health benefits for their children (4) as well as their parents (5). Increased knowledge and skills leading to higher wages, as well as psychosocial advantages, such as social standing and control beliefs, are posited as mechanisms that link higher education and improved health (1, 2).Link

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