Search results for " Wealth"
showing 10 items of 39 documents
Financial assets and patrimonial issues in international families
2021
: The paper deals with patrimonial issues in International families and with the European Regulations 1103 and 1104/ 2016 together with regulation 650/2012. The paper particularly focuses on financial assets: Bank Account; Share of Investments Funds; Life Insurance; Virtual assets like criptovalutes; real estate wealth. This perspective implies the need to find the rule governing the succession or the families? patrimonial issues, also taking into account the different rules in the different states concerned of the contracts that govern the circulation of such goods.
The role of punishment in the works of Adam Smith
2009
The reformation of criminal justice is one of the great themes in Enlightenment culture and concerned its main exponents from Montesquieu to Beccaria, Filangieri, Bentham. One of the traits of greater modernity in the theories worked out by juridical Enlightenment is the resort to the utilitarianinspired economic analysis. Adam Smith doesn't back out of this scientific and civil commitment, but his doctrine appears significantly different though contemporary to juridical Enlightenment, and is also based on economic argumentations. In this work we will look through the main writings which contain the Smithian thought in search of those parts dealing with the theme of punishment and its socia…
Progressive consumption tax, minimum consumption, and inequality
2020
Abstract In this note, we study the effects of a progressive consumption tax on wealth and consumption inequality in a model economy featuring minimum consumption. We show that increasing the lower and upper bounds of the progressive tax rate reduces wealth and consumption inequality in the long run but is not sufficient. The lower and upper bounds must not exceed the thresholds, which are decreasing functions of minimum consumption. The result is useful for empirical studies of the redistribution of wealth and consumption.
Wealth, Competitiveness, and Intellectual Capital – Sources for Economic Development
2015
Abstract National wealth, national competitiveness and national intellectual capital were major objectives of a nation in the last century. By this paper we identify strong interrelations between national wealth, national competitiveness and national intellectual capital according to Pearson, R and R 2 results. These interrelations demonstrate that national wealth, national competitiveness and intellectual capital are important sources for increasing the economic development based on data from 40 developed, emerging and developing countries.
Financial wealth, socioemotional wealth, and founder exits: an empirical examination of Chinese IPOs
2021
Initial public offerings (IPOs) are typically viewed as the peak of entrepreneurial success, providing founder-CEOs a chance to profitably exit. Founder-CEOs, however, are often motivated by non-financial considerations in addition to the desire to amass wealth. According to the behavioral agency model, the founder-CEOs’ framing of gains vs. losses of their wealth creation at IPO determines their risk aversion vs. risk taking behaviors. In addition, the behavioral agency model argues that founder-CEOs with a great deal of socioemotional wealth fear losing that wealth. This fear will attenuate their aversion to losing financial wealth. To test our model, we collected a sample of 130 entrepre…
Implementing a Negative Income Tax. Net Cost, Poverty and Inequality Effects
2019
The main aim of this paper is to propose a financially viable alternative to the current Spanish system of social protection: A Negative Income Tax (NIT) unifying in a single mechanism the system of public benefits and income tax. We analyse the main characteristics of the NIT and simulate several NIT proposals for Spain, using the Living Conditions Survey. These proposals are distinct in that they do not suppose an additional cost in the tax-benefit system. The results of our simulations indicate a radical improvement in the indicators of poverty and inequality, especially extreme poverty, and also a redistribution of income from the elderly to families with children.
Money in the "Body Politick" : The Analysis of Trade and Circulation in the Writings of Seventeenth-Century Political Arithmeticians.
2005
International audience; This article discusses the analysis of trade and circulation in the writings of seventeenth-century political arithmeticians. Political arithmetic was in its way an anatomy of the social body. William Petty titled his 1672 book The Political Anatomy of Ireland. In his preface he explicitly claimed to be following Francis Bacon, highlighting the experimental method and the idea that analytical methods can be transposed from one discipline to another. He thus drew a parallel between the natural body and the body politic. It was a widely held idea that money guaranteed the nation's health; conversely its poor state of health could lead to the wasting away of the body po…
Does one size fit all? The impact of cognitive skills on economic growth
2016
Les Documents de Travail de l'IREDU, n°2016-1; This paper tests for heterogeneous effects of cognitive skills on economic growth across countries. Using a new extended dataset on cognitive skills and controlling for potential endogeneity, we find that the magnitude of the effect is about 60 per cent higher for low-income countries compared to high-income countries, and it more than doubles when low TFP countries are compared to high TFP countries. There are also marked differences across geographic regions. Using data on the share of the population with advanced and minimum skill levels, our results also indicate that high-income countries should focus on increasing the number of high skill…
The effects of monetary policy on income and wealth inequality in the U.S. Exploring different channels
2020
We assess the effects of monetary policy shocks on income and wealth inequality through direct inequality measures and by analyzing several transmission channels explored in recent literature. Furthermore, we analyze two additional channels: the Housing and the Fiscal channels. The methodology adopted is a Bayesian proxy SVAR using a high-frequency identification based on the external instruments approach. Our own policy shocks are constructed for this purpose. The results show that an expansionary monetary policy shock does not have a significant effect on income inequality due to the existence of opposite channels, whereas it increases wealth inequality mainly through the portfolio channe…
How does fiscal policy react to wealth composition and asset prices?
2012
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