2 edition of Factor mobility and income growth found in the catalog.
Factor mobility and income growth
|Statement||Assaf Razin, Chi-Wa Yuen.|
|Series||NBER working paper series -- no. 5135, Working paper series (National Bureau of Economic Research) -- working paper no. 5135.|
|Contributions||Yuen, Chi-Wa, 1960-, National Bureau of Economic Research.|
|The Physical Object|
|Pagination||26,  p. :|
|Number of Pages||26|
Factor Mobility and Income Growth: Two Convergence Hypotheses Factor Mobility and Income Growth: Two Convergence Hypotheses Razin, Assaf; Yuen, Chi‐Wa Assaf Razin and Chi-Wa Yuen* Abstract While technologies and policy fundamentals are presumably different internationally, inducing differences in growth rates, capital mobility can be a powerful force in . Inequality, Income Growth, and Mobility: The Basic Facts 25 changes in the distribution of income, the following sections of this paper will take up each of these three elements in turn. Changes in Mean and Median U.S. Earnings The s and early s can be characterized as a period of slow growth and rising inequality of earnings.
Income inequality has fluctuated considerably since measurements began around , declining between peaks in the s and (CBO data) or (Piketty, Saez, Zucman data).Inequality steadily increased from around to , with a small reduction through , followed by an increase from – – An early governmental measure that slightly reduced . Growth, if any, has disproportionally benefited higher income groups while lower income households have been left behind. This long-run increase in income inequality not only raises social and political concerns, but also economic ones. It tends to drag down GDP growth, due to the rising distance of the lower 40% from the rest of society.
Economic mobility is the ability of an individual, family or some other group to improve (or lower) their economic status—usually measured in ic mobility is often measured by movement between income ic mobility may be considered a type of social mobility, which is often measured in change in income. Book Description. Economic inequality has been rising and intergenerational mobility declining in the U.S. and many other advanced economies in the late 20th century and early 21st Century. In this book, 27 students in the SUNY-Oswego Seminar in Economic Theory and Policy class examine the causes and consequences of these changes.
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In the context of regional growth, however, labor mobility can potentially equalize income levels across regions in the presence of human capital externalities.
Supporting evidence is found for this effect, revealing that restrictions on labor flows tend to make per capita incomes more divergent across nations and/or by: Factor mobility and income growth.
Cambridge, MA.: National Bureau of Economic Research, © (OCoLC) Material Type: Internet resource: Document Type: Book, Internet Resource: All Authors / Contributors: Assaf Razin; Chi-Wa Yuen; National Bureau of Economic Research.
Helmuth Cremer, Pierre Pestieau, in Handbook of Regional and Urban Economics, 6 Conclusion. In this survey, we have focused on the effect of factor mobility on the capacity of national governments to redistribute income.
As emphasized in most studies surveyed, mobility makes it difficult to efficiently tax or subsidize mobile factors, whatever they are, capital or labor.
This chapter continues the theme of income redistribution as a consequence of international trade. The focus here is the effect of factor immobility.
In the Ricardian model presented in Chapter 2, it is assumed that workers can move freely and costlessly to another industry. Downloadable (with restrictions). While technologies and policy fundamentals are presumably different internationally, inducing differences in growth rates, capital mobility can be a powerful force in equalizing output growth rates across countries.
The paper provides some indirect evidence in support of this effect. In the context of regional growth, however, labor mobility can potentially. In ‘Factor mobility and income distribution’, we find that capital owners will improve (deteriorate) their relative and absolute position in the North (South) in the aftermath of free labour migration.
Moreover, the gains of capital owners in the North outweigh the losses of capital owners in the South. On the opposite side, owners of low and medium working qualification will deteriorate. income growth. As the lowest quintile (or bottom 20%) of households had seen little real income growth in the first half of the decade, even with rapid income growth in the last five years, they showed slower real income growth for the decade as a whole.
However, at %, they still saw a significant improvement over the decade. How income mobility and income growth explain income inequality trends Nicolas Herault Melbourne Institute of Applied Economic and Social Research The University of Melbourne Melbourne, Victoria Australia May Abstract Explaining and reconciling concomitant changes in income inequality and income mobility remains a challenging task.
Furman said that between and productivity increased at percent per year, but that sincethis has dropped to percent. Between and. the economy. The results suggest that GDP growth is lower than the subsidy cost in all Brazilian regions except in the Midwestern and Southearn regions with complete factor mobility.
In terms of generating economic growth, the ETJ policy therefore presents a negative rate of return. When one considers the analysis in terms of welfare, the shock. capita income growth. As Bowen et al. () note, these mixed findings may reflect the emergence of the equal-share relationship with increased capital market integration (and with increased factor mobility in general) since this relationship places a constraint on the.
The relationship between economic growth and inequality has been studied by economists for more than a century. Nonetheless, this issue is still far from resolved and, as explained in this article, the answer to the question of how unequal household income affects a country’s growth is still not clear, both from a theoretical and also empirical perspective.
Three broad types of government economic policy affect income growth and mobility, and hence income inequality: (1) regulation, (2) the tax system, and (3) government transfers. Economic policies to reduce the growth of income inequality may work, in part, through their effects on income mobility.
Factor Mobility and Income Growth: Two Convergence Hypotheses Assaf Razin, Chi-Wa Yuen. NBER Working Paper No. (Also Reprint No. r) Issued in May NBER Program(s):Economic Fluctuations and Growth, International Finance and Macroeconomics.
driven largely by relatively rapid income growth at the top of the income distribution. For example, inthe average income of households in the top fifth of income distribution was the income distribution over time is called income mobility.
Mobility can be measured in different Factors That Affect the Income Distribution: Theory. (The Expresswire) -- Global “Enterprise Mobility Management Market” Report (value and volume) by company, regions, product types, end. George R. Zodrow, John W. Diamond, in Handbook of Computable General Equilibrium Modeling, Adding international flows of goods and factors.
Much of the analysis of tax reforms using OLG-CGE models has been done within either a closed economy framework, or one in which trade in outputs and/or international factor mobility is modeled in a fairly ad hoc way. Economic growth, then, may help to create the conditions for relative, as well as absolute mobility.
But it may also be the case that mobility helps create the conditions for stronger growth. between taxation and (population and income) growth in the presence of factor mobility. To get some feel about the tax-growth relations across countries, we display in Table 1 the average effective tax rates on capital and labor income and the long run average annual growth rates of population and income across the G-7 countries.
The rest of. Although one cannot draw definitive conclusions from such correlations, they suggest that the factors that erode the middle class hamper intergenerational mobility more than the factors that lead to income growth in the upper tail. Proxies for the quality of the K school system are also correlated with mobility.
Factor mobility The ability to move factors of production—labor, capital, or land—out of one production process and into another. refers to the ability to move factors of production—labor, capital, or land—out of one production process into another.
Factor mobility may involve the movement of factors between firms within an industry, as when one steel plant closes but sells its.fared even better. Over the same period, their average real income increased by % (from $1, adjusted for inflation, to $5,) and their share of national income almost tripled, from to %.1 Over the same 33 years, median household income grew by only 9%.
And this growth .Commodity movements and factor movements are substitutes. The absence of trade impediments implies commodity-price equalization and, even when factors are Immobile, a tendency toward factor-price is equally true that perfect factor mobility results in factor-price equalization and, even when commodity movements cannot take place, in commodity-price equalization.