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Guido Menzio - One of the best experts on this subject based on the ideXlab platform.

  • taxation and Redistribution of residual Income inequality
    Journal of Political Economy, 2013
    Co-Authors: Mikhail Golosov, Pricila Maziero, Guido Menzio
    Abstract:

    This paper studies the optimal Redistribution of Income inequality caused by the presence of search and matching frictions in the labor market. We study this problem in the context of a directed search model of the labor market populated by homogeneous workers and heterogeneous firms. The optimal Redistribution can be attained using a positive unemployment benefit and an increasing and regressive labor Income tax. The positive unemployment benefit serves the purpose of lowering the search risk faced by workers. The increasing and regressive labor tax serves the purpose of aligning the cost to the firm of attracting an additional applicant with the value of an application to society.

  • taxation and Redistribution of residual Income inequality
    National Bureau of Economic Research, 2012
    Co-Authors: Mikhail Golosov, Pricila Maziero, Guido Menzio
    Abstract:

    This paper studies the optimal Redistribution of Income inequality in a model with search and matching frictions in the labor market. We study this problem in the context of a directed search model of the labor market populated by homogeneous workers and heterogeneous firms. The optimal Redistribution in this model, which is associated with the constrained efficient allocation, can be attained using a positive unemployment benefit and an increasing and regressive labor Income tax. The positive unemployment benefit serves the purpose of lowering the search risk faced by workers. The increasing and regressive labor tax serves the purpose of aligning the cost to the firm of attracting an additional applicant with the value of an application to society.

Mikhail Golosov - One of the best experts on this subject based on the ideXlab platform.

  • taxation and Redistribution of residual Income inequality
    Journal of Political Economy, 2013
    Co-Authors: Mikhail Golosov, Pricila Maziero, Guido Menzio
    Abstract:

    This paper studies the optimal Redistribution of Income inequality caused by the presence of search and matching frictions in the labor market. We study this problem in the context of a directed search model of the labor market populated by homogeneous workers and heterogeneous firms. The optimal Redistribution can be attained using a positive unemployment benefit and an increasing and regressive labor Income tax. The positive unemployment benefit serves the purpose of lowering the search risk faced by workers. The increasing and regressive labor tax serves the purpose of aligning the cost to the firm of attracting an additional applicant with the value of an application to society.

  • taxation and Redistribution of residual Income inequality
    National Bureau of Economic Research, 2012
    Co-Authors: Mikhail Golosov, Pricila Maziero, Guido Menzio
    Abstract:

    This paper studies the optimal Redistribution of Income inequality in a model with search and matching frictions in the labor market. We study this problem in the context of a directed search model of the labor market populated by homogeneous workers and heterogeneous firms. The optimal Redistribution in this model, which is associated with the constrained efficient allocation, can be attained using a positive unemployment benefit and an increasing and regressive labor Income tax. The positive unemployment benefit serves the purpose of lowering the search risk faced by workers. The increasing and regressive labor tax serves the purpose of aligning the cost to the firm of attracting an additional applicant with the value of an application to society.

Dean Baker - One of the best experts on this subject based on the ideXlab platform.

  • The Upward Redistribution of Income
    Review of Radical Political Economics, 2016
    Co-Authors: Dean Baker
    Abstract:

    This paper examines the extent to which the growth in rents can explain the upward Redistribution in Income since 1980. It examines and provides preliminary estimates for the growth of rents in four main areas: increased patent and copyright rents, the growth of the financial sector, the increase in CEO pay due to the failure of the corporate governance, and the increase in pay for the most highly paid professionals due to protectionist barriers.

  • Working Paper: The Upward Redistribution of Income: Are Rents the Story?
    CEPR Reports and Issue Briefs, 2015
    Co-Authors: Dean Baker
    Abstract:

    In the years since 1980, there has been a well-documented upward Redistribution of Income. While there are some differences by methodology and the precise years chosen, the top one percent of households have seen their Income share roughly double from 10 percent in 1980 to 20 percent in the second decade of the 21st century. As a result of this upward Redistribution, most workers have seen little improvement in living standards from the productivity gains over this period. This paper argues that the bulk of this upward Redistribution comes from the growth of rents in the economy in four major areas: patent and copyright protection, the financial sector, the pay of CEOs and other top executives, and protectionist measures that have boosted the pay of doctors and other highly educated professionals. The argument on rents is important because, if correct, it means that there is nothing intrinsic to capitalism that led to this rapid rise in inequality, as for example argued by Thomas Piketty.

  • The Productivity to Paycheck Gap: What the Data Show
    CEPR Reports and Issue Briefs, 2007
    Co-Authors: Dean Baker
    Abstract:

    This report makes a series of adjustments to the most common measure of U.S. productivity growth (i.e., non-farm business sector) as well as to measures of wage growth, to determine the extent to which lagging wages can be blamed on weak productivity growth vs. Income Redistribution. Weak wage growth between 1973 and 2006 has generally been attributed to a Redistribution of Income from typical workers to higher paid workers. However, the report shows that, along with a Redistribution of Income, lagging wage growth has also been caused by slow productivity growth.

Carola Pessino - One of the best experts on this subject based on the ideXlab platform.

  • social spending and Income Redistribution in argentina during the 2000s the rising role of noncontributory pensions
    Public Finance Review, 2014
    Co-Authors: Nora Lustig, Carola Pessino
    Abstract:

    Between 2003 and 2009, Argentina’s social spending as a share of GDP increased by 7.6 percentage points. Marginal benefit incidence analysis for 2003, 2006, and 2009 suggests that the contribution of cash transfers to the reduction of disposable Income inequality and poverty rose markedly between 2006 and 2009 primarily due to the launching of a noncontributory pension program – the pension moratorium – in 2004. Noncontributory pensions as a share of GDP rose by 2.2 percentage points between 2003 and 2009 and entailed a Redistribution of Income to the poor, and from the formal sector pensioners with above minimum pensions to the beneficiaries of the pension moratorium. The redistributive impact of the expansion of public spending on education and health was also sizeable and equalizing, but to a lesser degree. An assessment of fiscal funding sources puts the sustainability of the redistributive policies into question, unless nonsocial spending is significantly cut.

Cagri Saglam - One of the best experts on this subject based on the ideXlab platform.

  • robust comparative statics for non monotone shocks in large aggregative games
    Journal of Economic Theory, 2018
    Co-Authors: Carmen Camacho, Takashi Kamihigashi, Cagri Saglam
    Abstract:

    A policy change that involves a Redistribution of Income or wealth is typically controversial, affecting some people positively but others negatively. In this paper we extend the “robust comparative statics” result for large aggregative games established by Acemoglu and Jensen (2010) to possibly controversial policy changes. In particular, we show that both the smallest and the largest equilibrium values of an aggregate variable increase in response to a policy change to which individuals' reactions may be mixed but the overall aggregate response is positive. We provide sufficient conditions for such a policy change in terms of distributional changes in parameters.

  • robust comparative statics for non monotone shocks in large aggregative games
    PSE-Ecole d'économie de Paris (Postprint), 2015
    Co-Authors: Carmen Camacho, Takashi Kamihigashi, Cagri Saglam
    Abstract:

    A policy change that involves Redistribution of Income or wealth is typically controversial, affecting some people positively but others negatively. In this paper we extend the "robust comparative statics" result on large aggregative games established by Acemoglu and Jensen (2010, 49th IEEE Conference on Decision and Control, 3133-3139) to possibly controversial policy changes. In particular, we show that both the smallest and the largest equilibrium values of an aggregate variable increase in response to a policy change to which individuals' reactions may be mixed but the overall aggregate response is positive. We provide sufficient conditions for such a policy change in terms of distributional changes in parameters.