The Economics of Rising Inequalities

Hardcover | September 15, 2002

EditorDaniel Cohen, Thomas Piketty, Gilles Saint-Paul

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This book is an in-depth discussion of rising inequalities in the western world. It explores the extent to which rising inequalities are the mechanical consequence of changes in economic fundamentals (such as changes in technological or demographic parameters), and to what extent they are thecontingent consequences of country-specific and time-specific changes in institutions. Both the 'fundamentalist' view and the 'institutionalist' view have some relevance. For instance, the decline of traditional manufacturing employment since the 1970s has been associated in every developed country with a rise of labor-market inequality (the inequality of labor earnings within theworking-age population has gone up in all countries), which lends support to the fundamentalist view. But, on the other hand, everybody agrees that institutional differences (minimum wage, collective bargaining, tax and transfer policy, etc.) between Continental European countries and Anglo-Saxoncountries explain why disposable income inequality trajectories have been so different in those two groups of countries during the 1980s-90s, which lends support to the institutionalist view.The chapters in this volume show the strength of both views. Through empirical evidence and new theoretical insights the contributors argue that institutions always play a crucial role in shaping inequalities, and sometimes preventing them, but that inequalities across age, sex, and skills oftenrecur. From Sweden to Spain and Portugal, from Italy to Japan and the USA, the volume explores the diversity of the interplay between market forces and institutions.

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This book is an in-depth discussion of rising inequalities in the western world. It explores the extent to which rising inequalities are the mechanical consequence of changes in economic fundamentals (such as changes in technological or demographic parameters), and to what extent they are thecontingent consequences of country-specific ...

Daniel Cohen is Professor of Economics at the University of Paris-I (Pantheon-Sorbonne) and Ecole normale superieure. He was formerly co-director of the International Macroeconomy Programme and the Centre for Economic Policy Research, and has acted as a consultant to the World Bank and the IMF. Thomas Piketty is Directeur d'etudes at ...

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Format:HardcoverDimensions:372 pages, 9.21 × 6.14 × 1 inPublished:September 15, 2002Publisher:Oxford University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0199254028

ISBN - 13:9780199254026

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Table of Contents

Part I: Markets and Institutions1. Olympia Bover, Samuel Bentolila, and Manuel Arellano: The Distribution of Earnings in Spain During the 1980s: The effects of skill, unemployment, and union power2. Olga Canto, Ana R. Cardoso, and Juan F. Jimeno: Earnings Inequality in Portugal and Spain: Contrasts and similarities3. Daron Acemoglu: Changes in Unemployment and Wage Inequality: An alternative theory and some evidence4. Giorgio Brunello and Tsuneo Ishikawa: Does Competition at School Matter? A view based on the Italian and Japanese experiences5. Etienne Wasmer: The Causes of the 'Youth Employment Problem': A (labour) supply side view6. Javier Ortega: Pareto-Improving Immigration in an Economy with Equilibrium UnemploymentPart II: Lifetime Inequalities and the Scope for Redistribution7. Richard Blundell and Ian Preston: Consumption Inequality and Income Uncertainty8. Anders Bjorkland and Marten Palme: Income Redistribution Within the Life Cycle Versus Between Individuals: Empirical evidence using Swedish panel data9. Andrea Brandolini, Piero Cippollone, and Paolo Sestito: Earnings Dispersion, Low Pay, and Household Poverty in Italy, 1977-199810. Peter Gottschalk and Susan E. Mayer: Changes in Home Production and Trends in Economic Inequality11. Roland Benabou: Unequal Societies: Income distribution and the social contract12. John Hassler, Jose V. Rodriguez Mora, Kjetil Storesletten, and Fabrizio Zilibotti: Unemployment, Specialization, and Collective Preferences for Social Insurance