Related papers: Monetary policy and the racial wage gap
Ethnic-based political inequality is widespread, yet its underlying drivers remain poorly understood. This paper shows that an ethnic group's relative size is a key correlate of its access to central executive power. Using data on 575…
The form of political polarization where citizens develop strongly negative attitudes towards out-party policies and members has become increasingly prominent across many democracies. Economic hardship and social inequality, as well as…
A society or country with income equally distributed among its people is truly a fiction! The phenomena of socioeconomic inequalities have been plaguing mankind from times immemorial. We are interested in gaining an insight about the…
Do labor market policies initiated in periods of loose monetary policy yield different outcomes from those introduced when monetary tightening prevails? Using data from 11 euro-area members up to 2010 -- and extending to 17 countries up to…
Statistical evaluations of the economic mobility of a society are more difficult than measurements of the income distribution, because they require to follow the evolution of the individuals' income for at least one or two generations. In…
The pursuit of having an appropriate level of income inequality should be viewed as one of the biggest challenges facing academic scholars as well as policy makers. Unfortunately, research on this issue is currently lacking. This study is…
We examine the impact of annual hours worked on annual earnings by decomposing changes in the real annual earnings distribution into composition, structural and hours effects. We do so via a nonseparable simultaneous model of hours, wages…
Equal pay is an essential component of gender equality, one of the Sustainable Development Goals of the United Nations. Using resume data of over ten million Chinese online job seekers in 2015, we study the current gender pay gap in China.…
Policy makers need to decide whether to treat or not to treat heterogeneous individuals. The optimal treatment choice depends on the welfare function that the policy maker has in mind and it is referred to as the policy learning problem. I…
Our computational economic analysis investigates the relationship between inequality, mobility and the financial accumulation process. Extending the baseline model by Levy et al., we characterise the economic process through stylised return…
The prominent inequality of wealth and income is a huge concern especially in the United States. The likelihood of diminishing poverty is one valid reason to reduce the world's surging level of economic inequality. The principle of…
This paper quantifies the international spillovers of US monetary policy by exploiting the high-frequency movement of multiple financial assets around FOMC announcements. I use the identification strategy introduced by Jarocinski & Karadi…
Recent research has documented a reversal from divergence to convergence in income levels between rich and poor countries after 2000. This paper employs a growth accounting framework to investigate the proximate sources of convergence over…
Homophily and heterophobia, the tendency for people with similar characteristics to preferentially interact with (or avoid) each other are pervasive in human social networks. Here, we develop an extension of the mathematical theory of urban…
The existence of involuntary unemployment advocated by J. M. Keynes is a very important problem of the modern economic theory. Using a three-generations overlapping generations model, we show that the existence of involuntary unemployment…
Credit is an essential component of financial wellbeing in America, and unequal access to it is a large factor in the economic disparities between demographic groups that exist today. Today, machine learning algorithms, sometimes trained on…
Strong empirical evidence from laboratory experiments, and more recently from population surveys, shows that individuals, when evaluating their situations, pay attention to whether they experience gains or losses, with losses weighing more…
Across income groups and countries, individual citizens perceive economic inequality spectacularly wrong. These misperceptions have far-reaching consequences, as it is perceived inequality, not actualinequality informing redistributive…
This paper attempts to find a relationship between agents' risk aversion and inequality of incomes. Specifically, a model is proposed for the evolution in time of surplus/deficit distribution, and the long-time distributions are…
Machine learning has grown in popularity to help assign resources and make decisions about users, which can result in discrimination. This includes hiring markets, where employers have increasingly been interested in using automated tools…