Search results for " Wealth"
showing 10 items of 39 documents
Can stability of foreign aid agreement reduce global income inequality?
2017
Abstract Global initiatives on debt relief call for increasing foreign aid assistance to alleviate income inequality. But the potential gains from foreign aid policy coordination may be limited by the willing participation of diverse and self-interested donor countries. If stability of the foreign aid agreement does not occur, then aid effectiveness fails. Thus, the aim of this paper is to investigate the effects of the stability of foreign aid agreement on income redistribution amongst countries. The findings show that stability has positive effects on income mobility from the rich to the poorest countries reducing global income inequality.
Cross-country variation in patience, persistent current account imbalances and the external wealth of nations
2022
This paper is the first to utilize large-scale international surveys on economic preferences to examine the long-run relationships between patience, current accounts and external wealth. We find robust empirical evidence that countries with more patient individuals tend to run persistent current account surpluses, which in turn result in the accumulation of foreign assets. This theoretically plausible but empirically unexplored relationship holds true for euro area current account imbalances, global current account imbalances and net foreign asset positions worldwide. While the existing current account literature concentrates on proximate macroeconomic determinants, this paper’s extension o…
Alternative Investment Fund Managers Directive and its Impact on Malta’s Financial Service Industry
2016
The introduction of the Directive on Alternative Investment Fund Managers (AIFM Directive 2011/61/EU) in 2013 means a radical transformation of the EU regulatory landscape for the whole alternative investment fund industry. Taking into account the growing meaning of the alternative investment fund industry in Europe, the aim of the paper is to assess the impact the Directive on Alternative Investment Fund Managers (AIFMD) will have on the Alternative Investment Fund Managers (AIFMs) managing Alternative Investment Funds (AIFs) in the EU. The research is based on the case of Malta, which is a quickly growing financial centre. The main findings are based on an analysis of questionnaire respon…
National-Level Wealth Inequality and Socioeconomic Inequality in Adolescent Mental Well-Being: A Time Series Analysis of 17 Countries
2020
Purpose: Although previous research has established a positive association between national income inequality and socioeconomic inequalities in adolescent health, very little is known about the extent to which national-level wealth inequalities (i.e., accumulated financial resources) are associated with these inequalities in health. Therefore, this study examined the association between national wealth inequality and income inequality and socioeconomic inequality in adolescents' mental well-being at the aggregated level. Methods: Data were from 17 countries participating in three consecutive waves (2010, 2014, and 2018) of the cross-sectional Health Behaviour in School-aged Children study. …
The Effects of Fiscal Redistribution
2016
Every discussion on income distribution and inequality distinguishes between market income, namely income before tax and without transfers, and disposable, or net income, which is after tax and including transfers. Hence, taxation and transfers create a redistribution of income. This redistribution is usually progressive, as direct taxes and subsidies are progressive, and thus it is supposed to reduce inequality, in the transition from market income to disposable income. This paper focuses on measuring the effect of fiscal policy in income redistribution and in reducing inequality. It also examines which type of fiscal policy is most strongly related to the redistribution of income, are the…
INDUSTRIALIZATION: AN ITINERARY RUINED BY EXTRAECONOMIC FACTORS. CASE STUDY: THE ROMANIAN ECONOMY
2012
How did the evolution of Romanian industry develop in the years after 1944 and until 1989? How about afterwards, during the transition from a socialist economy of Eastern European type to a generically defined market economy, when it failed to achieve socially desirable results, namely during the period 1990-2010? What was the actual content of the process, what was intended and what was actually achieved? In 20 years, how did the extra-economic factors influence - especially the political and social ones - a process, namely the industrialization, which had proved an undoubtedly positive experience around the world? These are the questions this paper aims to answer by examining the effects …
Monetary policy and the redistribution of net worth in the U.S
2021
The view that expansionary monetary policy can exacerbate both income and wealth inequality by increasing asset prices has become increasingly popular. The aim of this paper is to study the distributive effects of monetary policy on wealth inequality. In the first part of this research, we develop a simple framework based on accounting identity to examine the redistributive repercussions of changes in monetary policy on net worth through different channels. Based on this framework, in the second part of the paper, we show empirical evidence concerning the effects of monetary policy on wealth inequality in the US. To derive this, we combined macro and micro data, and proceeded in two steps. …
Effects of unconventional monetary policy on income and wealth distribution: Evidence from United States and Eurozone
2019
As an answer to the “Great Recession” and Zero Lower Bound problem, main central banks had to use unconventional monetary policy (UMP). This research focuses on the distributive effects of these measures on household income and household wealth in the United States of America (USA) and the Eurozone. For this purpose, this paper presents four models that were constructed using the Structural Vector Autoregressive methodology (SVAR). The results suggest that the UMPs applied by the Federal Reserve (FED) in the USA could increase wealth and income inequality through the portfolio channel. However, the same results were not observed in the Eurozone. Key words: United States of America, Eurozone…
Le paradoxe du seuil de pauvreté endogène dans les indices de pauvreté
2007
Pensions, Economic Growth and Welfare in Advanced Economies
2020
In this chapter, we analyse the effects of PAYG and funded pension systems on welfare. The debate on the choice between alternative systems focuses on their effects on savings, capital accumulation, labour supply, economic growth and inequality and the potential benefits of mixed systems in which a PAYG system with notional accounts is complemented by a funded pensions system. The main findings are as follows. Firstly, the redistribution of income among individuals makes the PAYG system an important part of any mixed system. Secondly, the design of the pension system should efficiently balance incentives and distortions with equality and insurance against individual idiosyncratic risks. Thi…