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1
Gutiérrez, Romero Roxana Belinda. "Essays on wealth distribution and development." Thesis, University of Cambridge, 2006. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.613654.
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Manyeli, Louis. "Distribution of wealth: A critique of Rawlsian liberalism." Thesis, University of Ottawa (Canada), 2001. http://hdl.handle.net/10393/9345.
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Can we distribute resources such that nearly all people can carry out their life plans? By sheer luck, some people happen to be naturally endowed, and their talents make them well off. Others, by brute bad luck, find themselves being naturally disadvantaged or less talented, and these conditions make them worst off. How can the frustrating and devastating situation of the latter group be remedied? John Rawls, a prominent contemporary liberal egalitarian, thinks that a fair distribution of wealth can be achieved if people choose his two principles of justice. With the two principles in operation, Rawls maintains, people can retain their basic liberties while committing themselves to social duties, duties that require them to assist the least fortunate members of a well-ordered society. Rawls thinks that liberty and equality are reconcilable in his theory. I trace the background to Rawls in Rousseau and Kant, and show how liberty and equality must be understood and significantly interconnected. The present work is primarily a critique of Rawls' theory of justice in regard to its position on the distribution of wealth, that is, Rawls' principle of distributive justice. My purpose is to show that Rawls' principle does not go far enough in the needed direction of redistribution, to provide what disadvantaged people genuinely require as a matter of fairness and actual opportunity; and further that this limitation in Rawls' position on economic distribution works to undermine Rawls' principle of equal liberty, as it applies in the real world. I also show that Rawls' critics, such as Nielsen, Sandel, Nozick, van Parijs, Dworkin and Kymlicka fail to provide a preferable solution to the problem of the distribution of wealth. I make a case for a commitment to the extensive redistributive tax measures needed to insure truly universal education as the condition of equal opportunity. I argue that this proposal is, in fact, consistent with egalitarians' aim to achieve equality, and consistent with Rawls' equal opportunity principle. Although Hegel has hardly figured as a model for egalitarians in the history of political philosophy, I argue that he is a model for egalitarians, and that he offers a preferable solution to the antinomies of contemporary thought. This means that he is a potential interlocutor in these contemporary debates. The central claim which I try to establish is that the Hegelian concern to reconcile individual freedom with new forms of community is germane to his vindication of economic rights. To put my point another way, I argue that contrary to the liberals' formalistic preoccupation with rights, interests, and rational preferences, Hegel correctly urges us to return to the sort of full-bodied philosophical anthropology that can specify the fundamental moral, economic, and political needs of human beings.
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Augustine, Taryn Jade. "Determinants of wealth in South Africa." Master's thesis, University of Cape Town, 2015. http://hdl.handle.net/11427/16528.
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Includes bibliographical references.This paper investigates the determinants of household wealth in South Africa, using the National Income Dynamics Study (NIDS) Wave 2. In particular, we look at the effect s of the wealth-age profile and other household demographic variables. The hump-shaped profile of the wealth and age relationship suggested by the life-cycle hypothesis is not present in the data, although there are indications of its presence in the upper quantiles of the wealth distribution. The South African wealth distribution does not conform to the Lifecycle Hypothesis at this point in time. The LCH model appears to apply only to particular quantiles of the population, that is, the wealthier households and the particularly indebted households. In particular, the results found these to be households with younger heads, which align with LCH predictions. Poorer households, or those whose assets and liabilities are approximately equal do not appear to accumulate wealth in the same manner as their upper and lower quantile counterparts. However, we cannot formally identify the LCH econometrically at a particular quantile. We found evidence of different wealth accumulation behaviour in Tribal Authority Areas, where a dual land tenure ownership structure is in place. This has important implications for researchers interested in components of wealth, such as income, saving, assets and liabilities.
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Abdul, Khalid Muhammed. "Wealth inequality in Malaysia : analysis of the distribution and the determinants of wealth in Malaysia." Paris, Institut d'études politiques, 2010. http://www.theses.fr/2010IEPP0075.
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Cette thèse étudie la distribution et les facteurs déterminants de la richesse en Malaisie en utilisant l’Enquête sur le revenu des ménages 2007. Cette étude conclut que l’inégalité des richesses mesurée par le coefficient de Gini, soit 0,52, est plus élevée que l’inégalité de revenu. Parmi les groupes ethniques présents en Malaisie, l’inégalité de la richesse est la plus élevée parmi les Indiens, suivis Bumiputera (Malaisiens) tandis que les Chinois ont le ratio d’inégalité le plus faible. L’inégalité à l’intérieur d’un même groupe ethnique est la principale cause des disparités entre chaque classe des actifs. Cette étude révèle aussi que 72% de ceux qui n’ont pas de richesse sont les Bumiputera, tandis que pour les Chinois et les Indiens, les pourcentages sont respectivement de 17% et 10%. Les inégalités intra-ethniques sont les plus importantes chez les Indiens, qui possèdent le moins de richesse, soit23. 7% tandis que les Bumiputera en possèdent 14,7% et les Chinois 10,5%. La distribution de la richesse montre que le premier 10% des ménages Malaysiens per capita contrôle 35,22% des richesses tandis que le dernier 40% en détient 8,02%. Plus de 96% des richesses viennent de l’immobilier. Les Chinois ont la richesse moyenne la plus élevée, ce qui est de 76% et 47% supérieur à la richesse moyenne des Bumiputera et à celle des Indiens respectivement. En cohérence avec les autres résultats de cette étude, nous trouvons qu’il existe un biais pro-Chinois qui est estimé à 45%. Tout porte à croire que cette inégalité des richesses va s’accroître dans le futur. Des politiques de discrimination positive sont nécessaires afin de corriger le déséquilibreThe thesis studies the distribution and the determinants of wealth in Malaysia, using the Household Income Survey (HIS) 2007. The study finds that the inequality of wealth, measured by the Gini coefficient, is 0. 52, higher than inequality of income. Wealth inequality is highest among the Indian, followed by the Bumiputera, while the Chinese. The within-group inequality is the main cause for disparity. The study also finds that 72% without wealth are the Bumiputera, while the figures for the Chinese and the Indians are 17% and 10. 7% respectively. Intra-ethnic, it is the Indian that has the least of ownership in wealth at 23. 7%, and within the Bumiputera group, the figure are 14. 7% and the Chinese 10. 5%. The distribution of wealth shows that top 10% of Malaysian household per capita control 35. 22% of the wealth, whiles the bottom 40% have 8. 02%. More than 96% of wealth comes from real estate, while financial assets contribute the rest. The Chinese have the highest average wealth, which are 76% and 47% higher than the Bumiputera and the Indian respectively. Consistent with other findings, the study find that pro-Chinese wealth bias is estimated at 45%. It is expected that inequality in wealth will widen in the future. Policy recommendations include the need for structural changes in education and tax policies, anti-discrimination in the labour market, and effective monitoring and implementations of policies that encourage asset ownership among the poor. Affirmative action types of policies are needed to address the imbalance
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Cummine, Angela. "A citizen's stake in Sovereign Wealth Funds : the management, investment and distribution of sovereign wealth." Thesis, University of Oxford, 2013. https://ora.ox.ac.uk/objects/uuid:5c3b8fa7-768e-445f-b4f1-54297dca9582.
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Over the past five years, Sovereign Wealth Funds (SWFs) have become a prominent phenomenon in contemporary capitalism. Described as government investment vehicles that invest state wealth in financial markets, the majority of the world's 60-plus funds have been established since the year 2000. Despite extensive treatments of SWFs' geopolitical and international significance, ethical and domestic level analyses are sparse. In response, this thesis interrogates three key normative questions raised by the funds for the domestic citizen-state relationship: (1) How (and by whom) should sovereign funds be managed? (2) How should sovereign wealth be invested? (3) How should the earnings of sovereign fund investment be distributed? In answering these questions, this thesis aims to dispel ambiguity over the ownership status of sovereign funds, evident in popular and academic discourse and within communities that establish these entities. For this task, it draws on recently revived fiduciary theory of the citizen-state relationship to argue that the rightful owner of these funds is the citizenry - not states or governments who enjoy physical and legal possession of SWFs. It goes on to examine the implications of this fiduciary state conception of SWF ownership, asking how citizen-owners should enjoy control over and benefit from the distinct constituent parts of their SWF property: the institution of the fund, the underlying sovereign wealth and the financial returns earned on the investment of its assets. The model of citizen ownership defended demands substantially increased popular control over SWF management and the investment of sovereign wealth, as well as direct benefit rights for citizen-owners to fund income through individualised distribution of investment returns. Examination of existing practice among SWFs demonstrates that this normative ideal is far, although not impossibly distant from current institutional practice.
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Mora, Edwin Irizarry. "Wealth distribution in the Puerto Rican model of development." Thesis, University of Sussex, 1989. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.397233.
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Cardarelli, Roberto. "Essays on money, inflation and the distribution of wealth." Thesis, University of Cambridge, 1998. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.625035.
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Martinez-Toledano, Toledano Clara. "Essays on the Accumulation, Distribution and Taxation of Wealth." Thesis, Paris, EHESS, 2020. http://www.theses.fr/2020EHES0074.
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Cette thèse analyse l'accumulation, la distribution et la taxation du patrimoine, en utilisant le contexte espagnol comme laboratoire. Les deux premiers chapitres mettent l’accent sur l'immobilier. Dans le premier chapitre, nous reconstituons le patrimoine national de l'Espagne entre 1900 et 2017. En combinant de nouvelles sources avec des comptes nationaux existants, nous estimons le patrimoine des secteurs privés et publics, et nous réalisons une nouvelle décomposition spécifique par type d’actif de l'accumulation du patrimoine à long terme. Nous constatons qu'au cours du 20e siècle, le ratio patrimoine/revenu est resté dans une fourchette relativement étroite — entre 400 et 600% — jusqu’à ce que la bulle immobilière du début des années 2000 conduise à une augmentation jusqu’à 800% en 2007. Nos résultats mettent en évidence l'importance de l’immobilier, des plus-values et les flux de capitaux internationaux comme éléments clés de l'accumulation de richesses. Dans le deuxième chapitre, j’étudie les conséquences des bulles immobilières sur les inégalités du patrimoine, en examinant deux épisodes de ce type au cours des quatre dernières décennies en Espagne. Je combine des données fiscales avec des enquêtes des ménages et les comptes nationaux pour reconstruire la distribution du patrimoine total, et je développe une nouvelle décomposition spécifique par type d’actif de l'accumulation du patrimoine pour démêler les principales forces derrière la dynamique des inégalités (par exemple, les plus-values et le taux d'épargne). Je trouve que la part du patrimoine des 10% les plus riches diminue lorsque la valeur des logements augmente fortement, mais cette tendance s'inverse pendant les crises. Les différences de plus-value entre les différents groupes semblent être le principal moteur de la concentration de la richesse pendant les bulles. En revanche, des différences persistantes entre les taux d'épargne des différents groupes de richesse, ainsi que les rééquilibrages des portefeuilles vers des actifs financiers sont les principales forces qui expliquent l'évolution inverse après l’explosion de la bulle. Je montre que l'hétérogénéité des réponses enregistrées est cohérente avec l'existence de grandes différences dans les coûts d'ajustement de portefeuille entre les groupes de richesse et que les incitations fiscales peuvent exacerber ce comportement différentiel d'épargne. Ces résultats fournissent de nouveaux faits empiriques pour enrichir les théories macroéconomiques sur des inégalités du patrimoine au cours du cycle économique. Dans le troisième chapitre, nous étudions l'effet des impôts annuels sur le patrimoine sur la migration. Nous analysons la décentralisation unique du système espagnol de l'impôt sur la fortune après sa réintroduction en 2011. Madrid est la seule région qui n'a pas réintroduit cet impôt. En utilisant des registres administratifs de l'impôt sur le revenu appariés avec l'impôt sur la fortune, nous exploitons la variation quasi expérimentale des taux d’imposition générée par la réforme pour comprendre les réponses de mobilité des individus à haut patrimoine et l'effet qui en résulte sur les revenus collectés par l'impôt sur la fortune et des inégalités de patrimoine. En agrégeant les données individuelles par région, année, et niveau de richesse des déclarants, nous constatons que cinq ans après la réforme, le nombre d’individus riches et le stock de patrimoine résidant dans la région de Madrid augmentent respectivement de 11% et 12% par rapport aux autres régions avant la réforme. En utilisant un modèle de choix individuel, nous montrons que conditionnellement a fait de migrer, le taux d'imposition zero a augmenté la probabilité de changer de résidence fiscale pour Madrid de 24 points de pourcentage. Nous montrons que le statut de Madrid en tant que paradis fiscal aggrave les inégalités régionales de patrimoine, diminue l'efficacité de la taxe et aggrave la concentration du patrimoineThis thesis analyzes the accumulation, distribution and taxation of wealth, usingthe Spanish context as a laboratory. The first two chapters have a particular focuson housing. In the first chapter, we reconstruct Spain's national wealth from 1900to 2017. By combining new sources with existing accounts, we estimate the wealth of both private and government sectors and use a new asset-specific decomposition of the long-run accumulation of wealth. We find that during the 20th century, the national wealth-to-income ratio remained within a relatively narrow range–between 400 and 600%–until the housing boom of the early 2000s led to an unprecedented rise to 800% in 2007. Our results highlight the importance of land, housing capital gains and international capital flows as key elements of wealth accumulation.In the second chapter, I study the implications of housing booms and busts forwealth inequality, examining two episodes over the last four decades in Spain. Icombine fiscal data with household surveys and national accounts to reconstruct the entire wealth distribution and develop a new asset-specific decomposition of wealth accumulation to disentangle the main forces behind wealth inequality dynamics (e.g., capital gains, saving rates). I find that the top 10% wealth share drops during housing booms, but the decreasing pattern reverts during busts. Differences in capital gains across wealth groups appear to be the main drivers of the decline in wealth concentration during booms. In contrast, persistent differences in saving rates across wealth groups and portfolio reshuffling towards financial assets among top wealth holders are the main explanatory forces behind the reverting evolution during housing busts. I show that the heterogeneity in saving responses is consistent with the existence of large differences in portfolio adjustment frictions across wealth groups and that tax incentives can exacerbate this differential saving behavior. These results provide novel empirical evidence to enrich macroeconomic theories of wealth inequality over the business cycle.In the third chapter, we study the effect of annual wealth taxes on migration. Weanalyze the unique decentralization of the Spanish wealth tax system following the reintroduction of the tax in 2011. Madrid is the only region that did not reintroducethe wealth tax. Using linked administrative wealth and income tax records, weexploit the quasi-experimental variation in tax rates generated by the reform tounderstand the mobility responses of high wealth individuals and the resulting effect on wealth tax revenue and wealth inequality. Aggregating the individual data to the region-year-wealth tax filer level, we find that five years after the reform, the stock of wealthy individuals and the stock of wealth residing in the region of Madrid increased, respectively, by 11% and 12% relative to other regions prior to the reform. Using an individual choice model, we show that conditional on moving, Madrid's zero tax rate increased the probability of changing one's fiscal residence to Madrid by 24 percentage points. We show that Madrid's status as a tax haven exacerbates regional wealth inequalities and erodes the effectiveness of raising tax revenue and curving wealth concentration
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Ederer, Stefan, and Miriam Rehm. "Wealth inequality and aggregate demand." WU Vienna University of Economics and Business, 2019. http://epub.wu.ac.at/7171/1/WP_30.pdf.
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The paper investigates how including the distribution of wealth changes the demand effects of redistributing functional income. It develops a model with an endogenous wealth distribution and shows that the endogenous rise in wealth inequality resulting from a redistribution towards profits weakens the growth effects of this redistribution. Consequently, a wage-led regime becomes more strongly wage-led. A profit-led regime on the other hand becomes less profit-led and there may even be a regime switch - in this case the short-run profit-led economy becomes wage-led in the long run due to the endogenous effects of wealth inequality. The paper thereby provides a possible explanation for the instability of demand regimes over time.Series: Ecological Economic Papers
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Schneebaum, Alyssa, Miriam Rehm, Katharina Mader, Patricia Klopf, and Katarina Hollan. "The Gender Wealth Gap in Europe." WU Vienna University of Economics and Business, 2014. http://epub.wu.ac.at/4320/1/wp186.pdf.
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This paper studies the gender wealth gap using 2010 Household Finance and Consumption Survey data for 15 European countries, and finds that households with only one male adult have more net wealth than households with one female adult, and that households with an adult couple have
the highest net wealth. Using OLS regressions to predict net wealth and the inverse hyperbolic sine transformation of net wealth, as well as the nonparametric DiNardo-Fortin-Lemieux re-weighting technique, to study the relationship between household and personal characteristics with net wealth, the paper finds that differences in labor market characteristics between male and female households, most notably lifetime labor force participation and wages, explain much of the gender wealth gap.(authors' abstract)Series: Department of Economics Working Paper Series
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Hsu, Minchung. "Essays on health insurance, saving behavior and the wealth distribution." Diss., Restricted to subscribing institutions, 2007. http://proquest.umi.com/pqdweb?did=1428847741&sid=1&Fmt=2&clientId=1564&RQT=309&VName=PQD.
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Caleb, Sunil Michael. "A Christian evaluation of economic policy and development in India (1947-1997)." Thesis, University of Kent, 2000. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.369688.
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Schneebaum, Alyssa, Miriam Rehm, Katharina Mader, and Katarina Hollan. "The Gender Wealth Gap Across European Countries." WU Vienna University of Economics and Business, 2016. http://epub.wu.ac.at/5175/1/wp232.pdf.
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This paper studies the gap in wealth between male and female single households using 2010 Household Finance and Consumption Survey data for eight European countries. In the raw data, a large gap emerges at the upper end of the unconditional distribution. While OLS estimates show no difference in average net wealth levels, quantile regressions at the 95th percentile yield mixed evidence for the gender wealth gap in different specifications. Labour market characteristics and participation in asset and debt categories largely explain the differences between male and female single households. We show that the gender gap in net wealth is driven by gender gaps in gross wealth and its components, but is attenuated in four countries by gender gaps in (collateralized) debt. In the full specification, the unexplained gap in gross wealth amounts to 27% in Slovakia, 33% in France, 44% in Austria, 45% in Germany, and 48% in Greece. A robustness check using person-level pension wealth confirms the presence of a gender gap for the full population.Series: Department of Economics Working Paper Series
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Schneebaum, Alyssa, Miriam Rehm, Katharina Mader, and Katarina Hollan. "The Gender Wealth Gap Across European Countries." Wiley, 2018. http://dx.doi.org/10.1111/roiw.12281.
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This paper studies the gap in wealth between male and female single households using 2010 Household Finance and Consumption Survey data for eight European countries. In the raw data, a large gap emerges at the upper end of the unconditional distribution. While OLS estimates show no difference in average net wealth levels, quantile regressions at the 95th percentile yield mixed evidence for the gender wealth gap in different specifications. Labour market characteristics and participation in asset and debt categories largely explain the differences between male and female single households. The gender gap in net wealth is driven by gaps in gross wealth and its components, but is attenuated in four countries by gender gaps in (collateralized) debt. In the full specification, the unexplained gap in gross wealth amounts to 27 percent in Slovakia, 33 percent in France, 44 percent in Austria, 45 percent in Germany, and 48 percent in Greece.
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Park, Jungwee. "The distribution of wealth in Canada : its existing pattern and changing trend." Thesis, University of British Columbia, 1987. http://hdl.handle.net/2429/26894.
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The aim of this thesis is to investigate the existing pattern and changing trend of the distribution of wealth in today's Canada. In doing so I explore both theoretical accounts and empirical evidence. First, the theoretical perspectives of both classical (Marx, Durkheim, and Weber) and contemporary (Blumberg, Westergaard and Resler, Porter, and Clement) social thinkers were discussed. The objective of this review was to describe the sociological interpretations and explanations of the distribution of wealth. Second, existing evidence was reviewed and new data was gathered on the wealth distribution in Canada. The existing data came from Osberg, Hunter, Vaillancourt, Rashid, and Oja. New data concerning such issues as welfare state, income disparity, and important wealth components was examined to augment the previously existing data. The Canadian wealth distribution proved to be unequal and to have become slightly more unequal over time. The concluding chapter briefly reviews possible explanations for this set of findings.Arts, Faculty of
Anthropology, Department of
Graduate
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Humer, Stefan, Mathias Moser, and Matthias Schnetzer. "Bequests and the Accumulation of Wealth in the Eurozone." WU Vienna University of Economics and Business, 2016. http://epub.wu.ac.at/4841/1/ineq_bequests.pdf.
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This paper empirically compares the contribution of the two major wealth accumulation
factors - earned income and inheritances - to the net wealth position of households in the
Eurozone. The elasticities of both wealth sources differ considerably across countries and are
overly non-linear. Depending on the position in the wealth distribution, an increase of one percentile in the income distribution corresponds to 0.1-0.6 percentiles in the net wealth distribution. We find substantially stronger effects for inheritances vis-á-vis income. In Greece,
Portugal, and Austria, households have to climb around three percentiles in the income distribution
to compensate a one percentile increase in the inheritance distribution. The findings
clearly suggest that bequests play a stronger role in wealth accumulation than earned income.Series: INEQ Working Paper Series
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Pinto, Paulo Notário. "A distribuição da riqueza em Portugal : um estudo de caso." Master's thesis, Instituto Superior de Economia e Gestão, 2014. http://hdl.handle.net/10400.5/8240.
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Mestrado em Economia e Políticas PúblicasOs indicadores tradicionais utilizados para aferir o bem-estar das famílias e a sua prosperidade ao longo do tempo baseiam-se no rendimento monetário. É, no entanto, sabido que estes indicadores ignoram determinantes essenciais da condição das famílias, como por exemplo em períodos de decréscimo abrupto dos rendimentos e de constrangimentos no acesso ao crédito. É aqui que a riqueza líquida pode desempenhar um importante papel no alisamento do consumo dos agregados familiares. Esta dissertação debruça-se sobre este dado recorrendo ao Inquérito sobre a Situação Financeira das Famílias. Os dados recolhidos permitem, pela primeira vez, o acesso a elementos sobre a distribuição da riqueza e das suas componentes.
Traditional indicators used to measure families' well-being and their welfare over time are based on monetary income. However, it is well known that these indicators ignore essential determinants of the families? welfare. For example, in periods of unexpected decrease in incomes and credit access constrains. This is where net wealth can play an important role in household consumption smoothing. This thesis addresses this topic using the Household Financial Situation Survey (Inquérito à Situação Financeira das Famílias). The collected data allow, for the first time, access to elements on the nature and distribution of wealth and its components.
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Kusa, Nataliya [Verfasser]. "Citizens’ preferences for intrafamilial wealth distribution and inheritance taxation / Nataliya Kusa." Kassel : Kassel University Press, 2017. http://d-nb.info/114739010X/34.
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Kelly, Simon John, and n/a. "Estimating the wealth of Australians: a new approach using microsimulation." University of Canberra. Business & Government, 2003. http://erl.canberra.edu.au./public/adt-AUC20070130.111024.
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The distribution of economic wellbeing is generally regarded as one of the key performance
indicators of a society and economic wellbeing is strongly influenced by income, wealth and
consumption. Despite this, almost all studies of inequality in Australia have relied upon income
as the sole measure of economic wellbeing, due in large part to the ready availability of income
data. This thesis attempts to redress that deficiency.
This thesis provides an insight into an under-researched but vitally important topic � the
distribution of wealth. Specifically the research has three goals. The first is to provide estimates
of the level and distribution of wealth in Australia at the current time and the trends over the
past decade or two. The second aim is to provide projections of the future wealth distribution.
The final goal is to see if there are significant differences between the distribution of lifetime
wealth and the annual cross-sectional distribution of wealth.
The research uses a technique not previously used in Australia to estimate wealth in the future �
dynamic microsimulation. The microsimulation model used is based on a starting sample of
150,000 individuals and this large number allows a large range of experiences to be modelled,
while not having the high costs, years of commitment and other problems associated with
undertaking panel studies.
This thesis estimates that the average levels of wealth will increase significantly over the
40-year period from 2000 to 2040 but that wealth inequality will increase over the same period.
The reasons for the increases in wealth inequality appear to be due to changes in asset
ownership, particularly lower levels of home ownership; the ageing population; and increases in
inequality within age cohorts.
The research found that lifetime wealth inequality for a sub-group of Generation X differed
from the distribution based on annual data. The lifetime wealth inequality was significantly less
than the annual wealth inequality.
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Zumwalt, Andrew Mark Sharpe Deanna L. Huston Sandra J. "The role of time preference on wealth." Diss., Columbia, Mo. : University of Missouri--Columbia, 2008. http://hdl.handle.net/10355/5753.
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The entire thesis text is included in the research.pdf file; the official abstract appears in the short.pdf file; a non-technical public abstract appears in the public.pdf file. Title from PDF of title page (University of Missouri--Columbia, viewed on October 6, 2009). Thesis advisors: Dr. Deanna L. Sharpe, Dr. Sandra J. Huston. Vita. Includes bibliographical references.
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Moon, Kyounghwan. "Effects of financial frictions on wealth distribution, capital accumulation and business cycles." Thesis, Boston University, 2012. https://hdl.handle.net/2144/32038.
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Thesis (Ph.D.)--Boston UniversityPLEASE NOTE: Boston University Libraries did not receive an Authorization To Manage form for this thesis or dissertation. It is therefore not openly accessible, though it may be available by request. If you are the author or principal advisor of this work and would like to request open access for it, please contact us at open-help@bu.edu. Thank you.
One of the lessons from the recent global financial crisis is the importance of macro-financial linkage in the economy. Based on this background, this dissertation analyzes the effects of financial frictions on the aggregate activities of the economy, wealth distribution and business cycles. The first chapter investigates the effects of financial development on aggregate capital accumulation and wealth distribution by constructing a heterogeneous-agent general equilibrium model with two idiosyncratic risks, endogenous occupational choice and Holmstrom and Tirole (1999) type financial contracts to prevent moral hazard issue. The benchmark model is calibrated to match the empirical data, where the wealth distribution has a right-hand fat tail and a small number of entrepreneurs hold a large amount of wealth. We find that financial development measured by decrease of monitoring cost contributes to the economy's higher capital accumulation and lower wealth Gini coefficient. The second chapter develops a dynamic stochastic general equilibrium (DSGE) model with financial frictions arising from the moral hazard problem as in Holmstrom and Tirole (1997) together with regulatory capital requirements on the banks. In contrast with the standard BGG (1999) financial accelerator model, we consider the agency problem from hidden action and regulatory capital requirements on the banks in order to examine whether changes of regulatory capital requirements result in credit crunches in the transmissions of aggregate technology and monetary policy shocks. The third chapter explores quantitative experiments using the above DSGE model. We examine whether there exists a "financial accelerator" effect from these kinds of financial frictions and a "credit crunch" from shocks. We find that there exists a "financial accelerator" effect and that financial deepening measured by decrease of financial intermediary's monitoring costs could contribute to mitigating business cycle fluctuations. In particular, no financial frictions with zero monitoring cost could decrease the variance of aggregate investment to around 18.5%. We also find that imposing and increasing capital requirements on the banks could cause decrease of bank's lending ("credit crunch"), thereby amplifying business cycles.
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Fierlbeck, Katherine. "The requirements of fairness and the realities of power : the dynamics of distribution in Canada." Thesis, University of Cambridge, 1990. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.316758.
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Mohaghegh, Mohsen. "Essays in Macroeconomic Models of Wealth Inequality." The Ohio State University, 2019. http://rave.ohiolink.edu/etdc/view?acc_num=osu156086394181863.
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Blanchet, Thomas. "Essays on the Distribution of Income and Wealth : Methods, Estimates and Theory." Thesis, Paris, EHESS, 2020. http://www.theses.fr/2020EHES0004.
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Cette thèse couvre plusieurs sujets sur la répartition des revenus et des richesses. Dans le premier chapitre, nous développons une nouvelle méthode pour exploiter les tabulations de revenu et de richesse, telle que celle publiée par les autorités fiscales. Nous y définissons les courbes de Pareto généralisées comme la courbe des coefficients de Pareto inversés b(p), où b(p) est le rapport entre le revenu moyen ou la richesse au-dessus du rang p et le p-ième quantile Q(p) (c'est-à-dire b(p)=E[X|X>Q(p)]/Q(p)). Nous les utilisons pour caractériser des distributions entières, y compris les endroits comme le sommet où la lois de Pareto est une bonne description, et les endroits plus bas où elles ne le sont pas. Nous développons une méthode pour reconstruire de manière flexible l'ensemble de la distribution sur la base de données tabulées sur le revenu ou le patrimoine, qui produit courbes de Pareto généralisées lisses et réalistes.Dans le deuxième chapitre, nous présentons une nouvelle approche pour combiner les données d'enquête et les tabulations fiscales afin de corriger la sous-représentation des plus riches au sommet. Elle détermine de façon endogène un "point de fusion'' entre les données avant de modifier les poids tout au long de la distribution et de remplacer les nouvelles observations au-delà du support original de l'enquête. Nous fournissons des simulations de la méthode et des applications aux données réelles. Les premières démontrent que notre méthode améliore la précision et la stabilité des estimations de la distribution, par rapport à d'autres méthodes de correction d'enquêtes utilisant des données externes, et même en présence d'hypothèses extrêmes. Les applications empiriques montrent que non seulement les niveaux d'inégalité des revenus peuvent changer, mais aussi les tendances.Dans le troisième chapitre, nous estimons la distribution du revenu national dans 38 pays européens entre 1980 et 2017 en combinant enquêtes, données fiscales et comptes nationaux. Nous développons une méthodologie cohérente combinant des méthodes d'apprentissage statistique, de calage non linéaire des enquêtes et la théorie des valeurs extrêmes afin de produire des estimations de l'inégalité des revenus avant et après impôt, comparables d'un pays à l'autre et conformes aux taux de croissance macroéconomiques. Nous constatons que les inégalités se sont creusées dans une majorité de pays européens, en particulier entre 1980 et 2000. Le 1% les plus riches en Europe a augmenté plus de deux fois plus vite que les 50% les plus pauvres et a capturé 18% de la croissance des revenus régionaux.Dans le quatrième chapitre, je décompose la dynamique de la distribution de la richesse à l'aide d'un modèle stochastique dynamique simple qui sépare les effets de la consommation, du revenu du travail, des taux de rendement, de la croissance, de la démographie et du patrimoine. À partir de deux théorèmes de calcul stochastique, je montre que ce modèle est identifié de manière non paramétrique et qu'il peut être estimé à partir de données en coupes répétées. Je l'estime à l'aide des comptes nationaux distributifs des États-Unis depuis 1962. Je trouve que, de l'augmentation de 15pp. de la part de la richesse détenue par les 1% les plus riches observée depuis 1980, environ 7pp. peut être attribuée à l'inégalité croissante des revenus du travail, 6pp. à la hausse des rendements sur le capital (principalement sous forme de plus-values), et 2pp. à la baisse de la croissance. En suivant les paramètres actuels, la part de la richesse des 1% les plus riches atteindrait sa valeur stationnaire d'environ 45% d'ici les années 2040, un niveau similaire à celui du début du XXe siècle. J'utilise ensuite le modèle pour analyser l'effet d'un impôt progressif sur les patrimoines au sommet de la distributionThis thesis covers several topics on the distribution of income and wealth. In the first chapter, we develop a new methodology to exploit tabulations of income and wealth such as the one published by tax authorities. In it, we define generalized Pareto curves as the curve of inverted Pareto coefficients b(p), where b(p) is the ratio between average income or wealth above rank p and the p-th quantile Q(p) (i.e. b(p)=E[X|X>Q(p)]/Q(p)). We use them to characterize entire distributions, including places like the top where power laws are a good description, and places further down where they are not. We develop a method to flexibly recover the entire distribution based on tabulated income or wealth data which produces smooth and realistic shapes of generalized Pareto curves.In the second chapter, we present a new approach to combine survey data with tax tabulations to correct for the underrepresentation of the rich at the top. It endogenously determines a "merging point'' between the datasets before modifying weights along the entire distribution and replacing new observations beyond the survey's original support. We provide simulations of the method and applications to real data. The former demonstrate that our method improves the accuracy and precision of distributional estimates, even under extreme assumptions, and in comparison to other survey correction methods using external data. The empirical applications show that not only can income inequality levels change, but also trends.In the third chapter, we estimate the distribution of national income in thirty-eight European countries between 1980 and 2017 by combining surveys, tax data and national accounts. We develop a unified methodology combining machine learning, nonlinear survey calibration and extreme value theory in order to produce estimates of pre-tax and post-tax income inequality, comparable across countries and consistent with macroeconomic growth rates. We find that inequality has increased in a majority of European countries, especially between 1980 and 2000. The European top 1% grew more than two times faster than the bottom 50% and captured 18% of regional income growth.In the fourth chapter, I decompose the dynamics of the wealth distribution using a simple dynamic stochastic model that separates the effects of consumption, labor income, rates of return, growth, demographics and inheritance. Based on two results of stochastic calculus, I show that this model is nonparametrically identified and can be estimated using only repeated cross-sections of the data. I estimate it using distributional national accounts for the United States since 1962. I find that, out of the 15pp. increase in the top 1% wealth share observed since 1980, about 7pp. can be attributed to rising labor income inequality, 6pp. to rising returns on wealth (mostly in the form of capital gains), and 2pp. to lower growth. Under current parameters, the top 1% wealth share would reach its steady-state value of roughly 45% by the 2040s, a level similar to that of the beginning of the 20th century. I then use the model to analyze the effect of progressive wealth taxation at the top of the distribution
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Huerta, Díaz Diego Ignacio. "Financial restriction, wealth distribution and economic performance with partial access to credit." Tesis, Universidad de Chile, 2014. http://www.repositorio.uchile.cl/handle/2250/117097.
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Magíster en Economía AplicadaIngeniero Civil Industrial
El presente trabajo estudia el efecto de las imperfecciones del mercado del crédito sobre la economía agregada y sobre distintas categorías de empresas. Se analiza la relación entre desarrollo financiero, distribución de riqueza y eficiencia económica. En particular, se estudia el efecto del desarrollo financiero sobre el acceso al crédito y el desempeño de las PYMEs. Se desarrolla un modelo de equilibrio general con agentes heterogéneos y decisiones de inversión variable no-lineal que generaliza el modelo de inversión fija de Balmaceda y Fischer (2010). Se estudia una economía que puede ser financieramente cerrada o abierta, con un sistema bancario competitivo. En la economía cerrada la tasa de interés de equilibrio se determina de manera endógena por mecanismos de demanda y oferta, mientras que en la economía abierta el sistema bancario tiene acceso ilimitado a capital a la tasa de interés internacional. Existe un continuo de empresarios dotados con diferentes niveles de riqueza o capital móvil, más una unidad de capital específico (ej. una idea, una habilidad, un proyecto). Los empresarios pueden acceder al mercado del crédito para obtener préstamos de capital para desarrollar sus proyectos. Debido a que la protección de los acreedores es imperfecta, el racionamiento del crédito surge de manera endógena en el modelo, limitando el acceso a crédito de firmas sub-capitalizadas (PYMEs). La existencia de riesgo moral (decisiones de inversión no verificables) y las imperfecciones del mercado del crédito implican que en equilibrio existirán 2 tipos de agentes restringidos de crédito: aquéllos sin acceso a crédito y que no producen, y aquellos empresarios que forman una PYME, pero que solo tienen acceso parcial al crédito y operan de manera ineficiente. Por lo tanto, existen 2 niveles críticos de capital: un nivel mínimo de capital para acceder a crédito y otro nivel de capital que permite alcanzar la inversión óptima. Un resultado básico del modelo es que el desarrollo financiero (o bajas en los costos fijos) reduce los 2 niveles críticos de capital e incentiva a los bancos a otorgar más crédito. A nivel agregado, la reducción de las restricciones de crédito significa un aumento de la profundidad del mercado del crédito y de la eficiencia económica. El modelo es consistente con varias observaciones de la literatura. En términos de distribución de riqueza, el modelo predice que mayor concentración de riqueza en países (muy) pobres significa mayor penetración del crédito y GDP, mientras que en economías más ricas este resultado se revierte. Otro resultado interesante es que en economías cerradas el desarrollo financiero beneficia a las PYMEs más pequeñas, pero perjudica a las firmas más grandes (debido al alza en la tasa de interés). Por otro lado, en economías abiertas, el desarrollo financiero beneficia a todas las PYMEs y no perjudica a las empresas grandes. Por lo tanto, es probable que las firmas más grandes se opongan al desarrollo financiero en economías cerradas, pero no en economías abiertas. Por lo que, la apertura financiera es un importante determinante del desarrollo financiero.
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Oltean, Elvis. "Modelling income, wealth, and expenditure data by use of Econophysics." Thesis, Loughborough University, 2016. https://dspace.lboro.ac.uk/2134/20203.
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In the present paper, we identify several distributions from Physics and study their applicability to phenomena such as distribution of income, wealth, and expenditure. Firstly, we apply logistic distribution to these data and we find that it fits very well the annual data for the entire income interval including for upper income segment of population. Secondly, we apply Fermi-Dirac distribution to these data. We seek to explain possible correlations and analogies between economic systems and statistical thermodynamics systems. We try to explain their behaviour and properties when we correlate physical variables with macroeconomic aggregates and indicators. Then we draw some analogies between parameters of the Fermi-Dirac distribution and macroeconomic variables. Thirdly, as complex systems are modelled using polynomial distributions, we apply polynomials to the annual sets of data and we find that it fits very well also the entire income interval. Fourthly, we develop a new methodology to approach dynamically the income, wealth, and expenditure distribution similarly with dynamical complex systems. This methodology was applied to different time intervals consisting of consecutive years up to 35 years. Finally, we develop a mathematical model based on a Hamiltonian that maximises utility function applied to Ramsey model using Fermi-Dirac and polynomial utility functions. We find some theoretical connections with time preference theory. We apply these distributions to a large pool of data from countries with different levels of development, using different methods for calculation of income, wealth, and expenditure.
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Hicks, Jacqueline. "The politics of wealth distribution in post-Soeharto Indonesia : political power, corruption and institutional change." Thesis, University of Leeds, 2004. http://etheses.whiterose.ac.uk/1040/.
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This thesis examines the processes through which the redistribution of political and economic power is taking place in post-Soeharto Indonesia. In order to do this, patterns of `grand' corruption between the business community and the state are explored in three sites: the allocation of government contracts, the interaction between business associations and the state, and the negotiations over the repayment of debt. It is found that corruption has become more widely dispersed with the inclusion of new state actors and that the basis of allocation has moved away from the political influence of the Soeharto-era towards the more uncomplicated power of money. It is proposed that the conventional arguments which either invest institutions with the sole responsibility for limiting corruption or alternatively view them as completely irrelevant to the real exercise of power are both flawed. Rather, it is argued in this thesis that institutional change does indeed affect patterns of corruption, freezing out some participants, introducing others and defining new sites of corrupt exchange. The significance of such an analysis lies in the idea that corruption can never be destroyed but rather it is controlled through alterations of its character. Thus, any attempts to limit corruption must be grounded in such an analysis of its particular character. It is found that corruption has become more widely dispersed with the inclusion of new state actors and that the basis of allocation has moved away from the political influence of the Soeharto-era towards the more uncomplicated power of money. It is proposed that the conventional arguments which either invest institutions with the sole responsibility for limiting corruption or alternatively view them as completely irrelevant to the real exercise of power are both flawed. Rather, it is argued in this thesis that institutional change does indeed affect patterns of corruption, freezing out some participants, introducing others and defining new sites of corrupt exchange. The significance of such an analysis lies in the idea that corruption can never be destroyed but rather it is controlled through alterations of its character. Thus, any attempts to limit corruption must be grounded in such an analysis of its particular character. It is further hypothesised that efforts to limit corruption are badly served by an exclusive focus on the rules inherent in institutions at the expense of the inclusion of corruption's deeper structural causes. In response to this, the idea that corruption is partially driven by the need to foster the domestic capital accumulation process in a context of historic underdevelopment is explored throughout this thesis. Thus, it is proposed that corruption can be viewed as a system of wealth distribution based not just on money and connections, but also ethnicity and nationality.
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Imani, Markid Maghsoud. "Balancism : a new legal and economic model for just distribution wealth and systemic financial stability." Thesis, King's College London (University of London), 2013. https://kclpure.kcl.ac.uk/portal/en/theses/balancism-a-new-legal-and-economic-model-for-just-distribution-wealth-and-systemic-financial-stability(a07c75dd-a15d-42b4-9e9c-6626ded2376c).html.
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The modern economic and financial systems have not so far secured a just and fair system of distribution of wealth and have frequently been exposed as containing systemic instabilities. In response, some think that there is no choice but to follow the laws and claims of Capitalism. Others have argued that it is time to revive and implement Socialism. Still others have voiced their support that the Islamic model would be the best solution. This thesis, which is an interdisciplinary and a comparative work, aims to suggest a new solution. The alternative system introduced in this research project is a comprehensive paradigm and three-tier model. The first tier covers the ultimate objective (social justice), the new foundational theory (rights-and-duties balance/benefits-and-burdens balance “Balancism”) as well as fundamental principles and policies of the model (e.g., distribution of the proceeds of natural wealth resources according to the reasonable and legitimate needs of human beings, distribution of subordinate wealth on the basis of contribution, application of an unlimited proportionate liability standard instead of the current limited liability norm, implementation of sharing-in-income arrangement instead of modern labour employment structure, securing basic essential needs of humanity, preventing concentration of wealth, and minimizing risk rather than taking advantage of it). In the second tier, major tools, products, and facilities are suggested for distribution of the proceeds of primary wealth resources and also for for-profit, profit-free, philanthropic, microfinance, intermediary, and risk hedging activities. The third tier deals with the superstructure and political regime of the alternative system. It consists of a “House of Wealth” and a “House of Market Control”. The Houses have to follow and apply the rules of balance, the first in the system of distribution of primary wealth and the second in the circulation of subordinate wealth, in order to ensure that justice prevails.
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Andersson, Filip. "Swedish Income Distribution and Wealth Concentration 1900-1985 : The interconnection between data and contemporary news outlets." Thesis, Uppsala universitet, Ekonomisk-historiska institutionen, 2017. http://urn.kb.se/resolve?urn=urn:nbn:se:uu:diva-325495.
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This paper holds a study of Swedish inequality from 1900-1985 with specific focus on the half-decades of 1900-1905 and 1980-1985. Subsequently constructed data and contemporary news outlets are presented to develop further understanding upon how inequality was depicted in comparison to data. Through a comparison of the time-periods, the developed understanding and changed stance of the public on the issue of inequality is examined. This method of examination gives new insight upon how the widening knowledge of inequality during the 1900s, through the development of micro-economic measurements, as well as more complete tax returns, has affected the depiction of the issue. The results of the study suggest that news articles of the latter period (1980-1985), tend to be more data-based than during the former time-period, where general assumptions were more frequent. It additionally suggests that the decreased inequality over the 20th century did not lessen the discussion of inequality, but rather the opposite. The news articles furthermore do not discuss inequality in relation to the presented data - the long-term changes are not clearly stated in the news outlets - but are in conclusion unconsciously considered, through the general knowledge of current inequality, through tax levels etc.
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Rawet, Eduardo Lederman. "Distribuição de riqueza e atividade econômica: uma extensão kaleckiana." Universidade de São Paulo, 2018. http://www.teses.usp.br/teses/disponiveis/12/12138/tde-30102018-161522/.
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No contexto em que a distribuição de riqueza fica cada vez mais concentrada nas mãos dos mais ricos (Piketty (2014)), torna-se essencial incluir a riqueza e a sua distribuição no estudo dos determinantes da atividade econômica. Assim, dentro de um arcabouço Kaleckiano com modelagem stock-flow-consistent, essa dissertação busca entender como o grau de utilização de capacidade das firmas se relaciona com a distribuição de renda e riqueza. Trabalhos na tradição pós-Keynesiana já haviam buscado entender essas relações, primeiro em Kaldor (1955) e Pasinetti (1962), na literatura neo-Keynesiana, e posteriormente em Dutt (1990) e Palley (2012), na literatura Kaleckiana. A principal inovação desta dissertação é incluir a acumulação de riqueza por trabalhadores e capitalistas, eliminando, porém, a possibilidade de trabalhadores acumularem estoque de capital físico. O modelo desenvolvido possui três classes, duas de trabalhadores que dividem a massa de salários, e uma de capitalistas, que recebe os lucros. Uma das classes de trabalhadores é mais qualificada, recebe um salário mais elevado e tem propensão a consumir sobre a renda disponível menor que a unidade. Assim como os capitalistas, que também têm propensão a poupar positiva sobre a renda disponível, a classe dos trabalhadores mais qualificados acumula riqueza na forma de títulos públicos, que rendem juros, e moeda. Além disso, ambas as classes têm propensão a consumir positiva sobre o estoque de riqueza financeira. No modelo, a riqueza impacta a demanda agregada por quatro canais: i) consumo sobre a riqueza; ii) gasto do governo sobre a riqueza tributada; consumo sobre a renda financeira; gasto do governo sobre a renda financeira tributada. No curto prazo valem o paradoxo dos custos e o paradoxo da poupança, e uma maior proporção da riqueza dos trabalhadores mais qualificados na distribuição de riqueza financeira eleva a utilização de capacidade. No longo prazo, os resultados sugerem que uma maior parcela dos trabalhadores na distribuição de riqueza está associada, na maioria dos casos, com uma menor utilização de capacidade. Além disso, o paradoxo dos custos e o paradoxo da poupança também deixam de valer, a despeito do modelo ser liderado pela demanda.In a context in which wealth is increasly more concentrated Piketty (2014), it becomes essential to include this variable and its distribution to study the economic activity. Thus, in a Kaleckian approach with Stock Flow Consistent modelling, this thesis aims to investigate how the rate of utilization of capacity of firms related with income and wealth distributions. Papers aligned with post-Keynesian tradition has already shown attempts to understand these relations, first by Kaldor (1955) and Pasinetti (1962), in neo-Keynesian approach, nd more recently by Dutt (1990) and Palley (2012), in Kaleckian literature. The main in innovation of this thesis is to propose the inclusion the accumulation on financial wealth by workers and capitalists, while workers are nor allowed to accumulate capital stock. The proposed model has three classes, two of workers who share the total wages, and the capitalists, who earn profits. One of workers is high skilled and earns a higher wage. The high skilled workers have a propensity to consume out of disposable income smaller than one. Just like capitalists, who also have a positive propensity to save out of disposable income, high skileed workers accumulate wealth as public bonds, which provide financial income as interest, and as money. Besides that, both classes have a positive propensity to consume out of financial wealth. Wealth can impact aggregate demand on four ways: i) consumption out of wealth; ii) government expenditure out of wealth taxes; iii) consumption out of financial income; iv) government expenditure out of financial income taxes. In short run, the paradox of thrift and the paradox of costs hold, while a higher share of high skilled workers\' wealth has a positive impact on capacity utilization. In long run, the results suggest that a higher share of high skilled workers wealth has a negative correlation with capacity utilization. Besides that, the paradox of thrift and the paradox of costs do not hold, despite the model is demand-led.
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Mohamed, Farouq. "Capitalism in moral perspective - an Islamic alternative." Thesis, University of the Western Cape, 2011. http://hdl.handle.net/11394/2605.
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Magister Artium - MAOur time has been called the age of economics; the social philosopher Edmund Burke first used this term to characterize the eighteenth century, which was his own century and also the century of Adam Smith, but this expression has since become even more appropriate. While in the middle ages the beliefs that divide society and set large blocks of people at war with each other were theological in nature, in our time the great ominous divide between peoples is based on differing philosophies of economics (Lux, 1990:1). Economists are now key advisors to governments, presidents, prime ministers, and even autocrats and dictators, in addition to their obvious and expected place in the world of business, banking, and finance. The celebrated twentieth-century economist John Maynard Keynes gives an apt description of the influence of economics in our time: “The ideas of economists and political philosophers, both when they are right and when they are wrong, are more powerful than is commonly understood.” (Lux, 1990:1). The analysis presented in this study spreads over four chapters followed by a concluding chapter and the bibliography. For the full understanding of the need of this analysis and where it comes from; the methods that are followed; the literature used; the normative framework for evaluating the different systems, a brief survey is presented in the first chapter. The second chapter argues the need for an economic system that functions economically and morally; one that satisfies the criteria set by the widely accepted theory on justice by John Rawls. An analysis of the advantages and disadvantages, but especially the moral and practical shortcomings, of the current dominating global system, Capitalism, based on short-term human vision and planning, and a preliminary critical moral assessment thereof, is given in chapter three. The fourth chapter briefly presents the Islamic economic system as a possible alternative, more reliable, economic system, claiming to depend on divine knowledge. The strengths of this system are pitted over against the shortcomings identified in Capitalism and the possible viability of the Islamic system is tested against the criteria of John Rawls’ theory of justice. The concluding fifth chapter summarises the outcomes of the investigation and presents some recommendations for a viable economic philosophy and system for the future.
South Africa
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Holland, Jeffrey L. "The Agricultural Population of Surry County, Virginia 1850-1860: Re-Examining Wealth Distribution in the Antebellum South." W&M ScholarWorks, 1995. https://scholarworks.wm.edu/etd/1539625995.
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Ederer, Stefan, Maximilian Mayerhofer, and Miriam Rehm. "Rich and Ever Richer: Differential Returns Across Socio-Economic Groups." WU Vienna University of Economics and Business, 2019. http://epub.wu.ac.at/7170/1/WP_29.pdf.
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This paper estimates rates of return across the gross wealth distribution in eight European countries. Like differential saving rates, differential rates of return matter for Post Keynesian theory, because they impact the income and wealth distribution and add an explosive element to growth models. We show that differential rates of return matter empirically by merging data on household balance sheets with long-run returns for individual asset categories. We find that (1) the composition of wealth differentiates between three socioeconomic groups: 30% are asset-poor, 65% are middle-class home owners, and the top 5% are business-owning capitalists; (2) rates of return rise across all groups; and (3) rates of return broadly follow a log-shaped function across the distribution, where inequality in the lower half of the distribution is higher than in the upper half. If socioeconomic groups are collapsed into the bottom 95% workers and top 5% capitalists, then rates of return are 5.6% for the former and 7.2% for the latter.Series: Ecological Economic Papers
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Garcia, Ozemela Liana M. "Race and diversity effects on earnings and educational outcomes in Brazil." Thesis, University of Aberdeen, 2011. http://digitool.abdn.ac.uk:80/webclient/DeliveryManager?pid=167792.
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This thesis employs advanced econometric methods to understand the determinants of race inequalities in labour markets and in higher education in Brazil. It then investigates whether race diversity can be used as a policy to reduce existing inequalities in pay and college campuses. It uses data from the National Household Sample Survey PNAD of 2005 and the National Examination of Higher Education Courses (ENC/Provão) of 2003. The main methodological contributions of this thesis are: 1) extending wage models to include several variables which can explain more than 40 percent of the total variation in wages; 2) computing a proxy for parental education (this has not been possible to estimate using PNAD since 1996); 3) correcting wage equations for selection bias using a robust instrument (most studies ignore the sample selection problem by using employed males only); 4) implementing a new algorithm that combines Heckman Two-Step, complex sample weights and constrained least squares (this increases robustness of the detailed decomposition of the discrimination term). This is done in a generalized wage decomposition setting where the level of discrimination is invariant to the choice of the reference wage group. Results show an existing pay-gap and a significant level of discrimination against nonwhites even after corrections are made. Selection bias appears to underestimate the discrimination term considerably. This study also develops a theoretical framework for the study of the impact of diversity on labour productivity and on discrimination simultaneously. Results support policies which seek greater diversity in order to reduce the existing inequalities in labour markets and on higher education campuses. However, the outcome of policies aimed at increasing diversity on campuses can significantly differ depending on the existing level of diversity and the subject majors attended by students.
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Hudson, William C. (William Carl). "Predictability of Credit Watch Placements and the Distribution of Wealth Effects Across the Trigger Event, Placement and Removal Dates." Thesis, University of North Texas, 1996. https://digital.library.unt.edu/ark:/67531/metadc278062/.
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Standard and Poor's began publication of Credit Watch in November of 1981 as an early warning list for firms whose debt is under review for a possible rating change. This dissertation is composed of three essays which address various aspects of Credit Watch and the impact on shareholder wealth.
The first essay uses a discriminant analysis model to classify the Credit Watch status of firms which engaged in mergers and acquisitions activity in 1991. The model correctly classifies 69.85% of the in-sample firms and 65.83% of the out of sample firms.
The second essay examines whether the stock market reacts more strongly to trigger events which cause Credit Watch placements than to the actual placement. Significantly larger negative abnormal return are found around the trigger event than the placement. No evidence is found for the differential reaction evolving over time.
The third essay examines firm specific and economy-wide factors which may be related to the strength of the abnormal stock return around the Credit Watch removal date. The removal return is found to be positively related to the number of trading days a firm remains on Credit Watch, negatively related to the number of updates regarding the firm released by Standard and Poor's while on the list, and positively related to the cumulative abnormal return measured between the placement and removal. This evidence suggests that the number of trading days a firm remains on Credit Watch is a proxy for information leakage to the market. The negative relationship between the removal return and the number of updates implies that the market reacts to a string of negative news of which the removal announcement is the final announcement. Finally, the positive relationship with the cumulative abnormal return between placement and removal suggests that much of the information content of the removal has been impounded into the stock price at the time of the removal.
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Yamokoski, Alexis. "Wealth inequality effects of gender, marital status, and parenthood on asset accumulation /." Columbus, Ohio : Ohio State University, 2007. http://rave.ohiolink.edu/etdc/view?acc%5Fnum=osu1180542629.
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Karapandza, Rasa. "Three Essays in Financial Economics." Doctoral thesis, Universitat Pompeu Fabra, 2009. http://hdl.handle.net/10803/7387.
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El primer capítol, titulat "PROMETENT FRACÀS: Retòrica Política i Empresatial com a Determinant de l'Èxit" estableix una relació negativa entre el número de promeses fetes per polítics i companyies i el seu conseqüent rendiment. Mostro que les empreses que fan poc ús del temps futur en els seus informes annuals superen significativament aquelles que l'utilitzen més. De la mateixa manera, en totes les eleccions presidencials dels E.U.A. des del 1960 fins el 2004, el candidat que va fer un menor ús del futur durant els debats televisats va guanyar el vot popular. Mostro que la freqüència en que s'usa el futur a les frases està fortament correlacionat amb la freqüència de fer promeses i que aquesta última pot ser modelada en un marc de teoria de jocs. Paraules clau: eficiència de mercat, anomalies de preus, cheap talkEl segon capítol, "Valorant Contractes d'Assegurança de la Hipoteca en Economies de Mercat Emergents", tracta de l'aplicació d'opcions reals per a posar preus a contractes d'asseguraça de la hipoteca. Deselvolupem un nou mètode basat en opcions per a l'avaluació de contractes d'assegurança de la hipoteca en forma tancada en una economia en la qual els agents són neutrals al risc. Mentre el mètode d'avaluació proposat és general i pot ser usat en qualsevol mercat, pot ser particularment útil en economies de mercat emergentsen les quals altres mètodes existents poden ser inapropiats o són massa difícils d'implementar degut a la manca de dades relevants. És el primer article que desenvolupa un marc de preu d'opcions per a posar preus a contractes AH en forma tancada. D'aquesta manera podem obtenir resultats d'estàtiques comparatives de forma analítica en comptes de forma numèrica, com sol ser el cas en literatura relacionada. Aquest és el primer article que quantifica els efectes de la ineficiècia legal en el preu dels contractes AH i demostra que aquest efectes poden ser significants i s'haurien de tenir en consideració alhora de posar preu en aquest tipus de contractes. Paraules clau: assegurança d'hipoteca, quota de morositat, quota de prepagament, fòrmula black-scholes.
El tercer capítol es titula "Conseqüències de l'increment de la longevitat en la riquesa, fertilitat i el creixament de la població". Presentem, solucionem i simulem numèricament un model simple que descriu les conseqüències del creixement de la longetivitat per a la taxa de fertilitat, el creixement de la població i la distribució de riquesa en societats desevolupades. Veiem les consequüències de l'ús repetit de tècniques d'extensió de la vida i mostrem que representen una nova matèria prima, la introducció de la qual influenciarà en gran mesura aspectes claus de l'economia i la societat en general. En particular, desvelem dues fases en el nostre model simplificat, que anomenem "mortal" i "immortal".
The first essay, titled "PROMISING FAILURE: Political and Company Rhetoric as a Determinant of Success" establishes a negative relationship between the number of promises made by politicians and companies and their consequent performance. I show that firms that make sparing use of the future tense in their annual reports significantly outperform those that use it more. Similarly, in all of the U.S. presidential elections from 1960 through 2004, the candidate who made less use of the future tense during the televised debates won the popular vote. I show that the frequency of using future-tense sentences is strongly correlated with the frequency of making promises and that the latter can be modeled within a game-theoretic framework. Keywords: market efficiency, pricing anomalies, cheap talk
The second essay, "Valuing Mortgage Insurance Contracts in Emerging Market Economies", deals with application of real options for pricing of mortgage insurance contracts. We develop a new option-based method for the valuation of mortgage insurance contracts in closed form in an economy where agents are risk neutral. While the proposed valuation method is general and can be used in any market, it may be particularly useful in emerging market economies where other existing methods may be either inappropriate or are too difficult to implement because of the lack of relevant data. It is the first paper to develop an option-pricing framework for pricing MI contracts in closed form. As a result, comparative static results can be obtained analytically instead of numerically, as is typically the case in the related literature. This is the first paper that quantifies the effects of legal inefficiency on the pricing of MI contracts and demonstrates that these effects can be quite significant and should be taken into account when pricing MI contracts. Keywords: mortgage insurance, default rate, prepayment rate, black-scholes formula,
The third essay is titled "Consequences of increased longevity for wealth, fertility and population growth". We present, solve and numerically simulate a simple model that describes the consequences of increased longevity for fertility rates, population growth and the distribution of wealth in developed societies. We look at the consequences of the repeated use of life extension techniques and show that they represent a novel commodity whose introduction will profoundly influence key aspects of the economy and society in general. In particular, we uncover two phases within our simplified model, labeled as "mortal" and "immortal".
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Arendse, Jacqueline A. "An investigation into the introduction of a new wealth tax in South Africa." Thesis, Rhodes University, 2018. http://hdl.handle.net/10962/61379.
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In a world of economic uncertainty and manifold social problems, South Africa has its own unique challenges of low economic growth, persistent budget deficits that produce increasing government debt and the highest level of economic inequality in the world. The history of injustice and economic marginalisation and the failure of the economy to provide inclusive growth drives an urgent need to address economic inequality through tax policy, placing ever more focus on wealth taxes as a possible solution. There is a hope is that taxing the wealthy may provide the opportunity to redistribute desperately-needed resources to those denied the opportunity to build wealth and who are trapped in the cycle of poverty. Yet, as appealing as a new wealth tax may seem, the introduction of such a tax carries with it a range of risks, not all of which are known. Of great concern is the possible effect on the economy, which, in its vulnerable state, cannot afford any loss of capital and investment. Very little research has been done on wealth tax in the South African context and there is a dearth of literature focusing on the views and perceptions of the wealthy individuals themselves. This qualitative study investigates the merits and disadvantages of a new wealth tax and seeks to identify any unintended consequences that could result from the implementation of a new wealth tax in South Africa, drawing from historical and international experience and primary data obtained from interviews with individuals likely to be affected by such a tax. Having explored the literature and international experiences with wealth tax and having probed the thinking of wealthy individuals who would be the payers of a wealth tax, the study finds that a new wealth tax may contribute towards the progressivity of the tax system, but it is doubtful whether such a tax would provide a sustainable revenue stream that would be sufficient to address economic inequality and there is a risk of causing harm to the economy. Recognising that the motivation for wealth taxes is often driven more by political argument and public perception than by rational quantitative analysis, the study also anticipates the introduction of a new wealth tax and suggests guidelines for the design of such a tax within the framework for evaluating a good tax system. This study informs the debate on wealth taxes in South Africa and contributes to the design of such a tax, should it be implemented.
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Hansen, Christian Bailey 1976. "Inference in linear panel data models with serial correlation and an essay on the impact of 401 (k) participation on the wealth distribution." Thesis, Massachusetts Institute of Technology, 2004. http://hdl.handle.net/1721.1/29431.
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Thesis (Ph. D.)--Massachusetts Institute of Technology, Dept. of Economics, 2004.Includes bibliographical references.
This thesis considers inference issues in serially correlated multilevel and panel data and presents a separate essay that examines the impact of 401(k) participation on wealth. The first chapter examines generalized least squares (GLS) estimation in data with a grouped structure where the groups may be autocorrelated. The analysis presents computationally convenient methods for obtaining GLS estimates in large multilevel data sets and discusses estimation of covariance parameters for use in GLS when the shock follows an AR(p) process. Standard estimates of the AR coefficients will typically be biased due to the inclusion of group level fixed effects, so a simple bias correction for the AR coefficients is offered which will be valid in the presence of fixed effects and group specific time trends. The chapter concludes with a simulation study that illustrates the usefulness of the derived methods. The second chapter further explores inference in serially correlated panel data by considering the asymptotic properties of a robust covariance matrix estimator which is advocated for use in panel data. The estimator has good properties when the cross-section dimension, n, grows large with the time dimension, T, fixed. However, many panel data sets are characterized by a non-negligible time dimension. Chapter 2 extends the usual analysis to cases where T [right arrow] [infinity symbol] showing that t and F tests based on the robust covariance matrix estimator display their usual limiting behavior as long as n [right arrow] [infinity symbol] with T.
(cont.) When T [right arrow] [infinity symbol] with n fixed, the results show that t and F statistics can be used for inference despite the fact that the robust covariance matrix estimator is not consistent but converges to a limiting random variable. The properties of tests based upon the robust covariance matrix estimator are examined in a short simulation study. The final chapter uses instrumental variables quantile regression to examine the effects of participating in a 401(k) on wealth. significant over the entire range of the asset distribution and that the increase in the lower tail appears to translate completely into an increase in wealth. However, there is evidence of substitution between net financial assets and other forms of wealth in the upper tail of the distribution. The results demonstrate that estimates of treatment effects which focus on a single feature of the outcome distribution may fail to capture the full impact of the treatment and that examining additional features may enhance our understanding of the economic relationships involved.
by Christian Bailey Hansen.
Ph.D.
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Zara, Thaís Marzola. "Desenvolvimento financeiro, crescimento e desigualdade nos estados brasileiros." Universidade de São Paulo, 2006. http://www.teses.usp.br/teses/disponiveis/12/12138/tde-15122006-195440/.
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Este trabalho tem como objetivo investigar a relação entre desenvolvimento financeiro e crescimento, bem como desenvolvimento financeiro e desigualdade, numa análise regional, para estados brasileiros. Utilizando a metodologia empregada na literatura empírica internacional, as conclusões obtidas são de que: a) o acesso ao crédito é uma das variáveis importantes para a explicação do crescimento estadual e da desigualdade na distribuição de renda; b) o tamanho do crédito em si aparece como relevante para a explicação do crescimento, mas, quando controlados os efeitos das características próprias de cada estado, esta relação deixa de ser significante; e c) o tamanho do crédito está negativamente relacionado à desigualdade de renda, isto é, mais crédito corresponde a pior distribuição. Este último resultado é contra-intuitivo e são sugeridas duas explicações para isso. A primeira razão possível é de que o crédito possa estar sendo capturado pelas camadas de maior renda / empresas de maior porte, não chegando às classes de menor renda / micro e pequenas empresas, o que acentuaria o quadro de má distribuição de renda. O acesso ao crédito, ao contrário, melhora a distribuição de renda. Além disso, é possível que, como uma parte importante do crédito é direcionada pelo governo, este pode estar deliberadamente enviando mais recursos aos estados inicialmente mais desiguais, o que explicaria o resultado de que mais crédito está associado a mais desigualdade.This paper?s goal is to investigate the relationship between financial development and growth and between financial development and wealth distribution, using a regional approach, through Brazilian states. Using the methodological approach common to the international empiric literature, the conclusions are: a) access to credit is one of the relevant variables when explaining the states growth and the uneven wealth distribution; b) size of credit itself appears to be relevant when explaining growth, however, when discounting the states fixed effects, the relationship ceases to be significant; and c) credit size is negatively related to the wealth distribution, meaning that more credit is linked to a more uneven wealth distribution. This last result is not expected and there are two suggested reasons for it. The first one is that the credit is being captured by the richer lays of population / bigger firms, and it is not being able to reach the poorest lays / smaller firms, thus enhancing the unequal distribution. Credit access, on the other hand, improves the wealth distribution. Besides, it is possible that since a great credit share is directed by the government, it could be intentionally sending more resources to the more uneven states, explaining how more credit could be associated with more inequality.
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Rasner, Anika [Verfasser], and Gert G. [Akademischer Betreuer] Wagner. "The Distribution of Pension Wealth and the Process of Pension Building: Augmenting Survey Data with Administrative Pension Records by Statistical Matching / Anika Rasner. Betreuer: Gert G. Wagner." Berlin : Universitätsbibliothek der Technischen Universität Berlin, 2012. http://d-nb.info/1019398639/34.
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Abrahão, Fernando Antonio. "Padrões de riqueza e mobilidade social na economia cafeeira: Campinas, 1870-1940." Universidade de São Paulo, 2015. http://www.teses.usp.br/teses/disponiveis/8/8137/tde-01062015-150909/.
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As origens da pujança econômica e da diversidade social e cultural de São Paulo são temas estudados por historiadores e economistas. Nesta tese, propõe-se um estudo da riqueza de Campinas durante a economia cafeeira, de 1870 a 1940, recorte temporal este que inicia com o auge da cafeicultura, chegando até aos primeiros desenvolvimentos de uma economia industrial e urbana. A excepcional expansão das exportações de café e a imigração de europeus, de meados do século XIX em diante, estimularam a diversidade dos mercados de trabalho e de consumo locais e tornou possível aos indivíduos comuns ascenderem socialmente em uma hierarquia dominada pela elite cafeeira. A principal fonte documental utilizada foi uma série de inventários post mortem, dos quais sistematizamos as informações pessoais dos inventariados e as propriedades declaradas e orçadas nas suas partilhas. Analisou-se, primeiramente, as origens nacionais e as ocupações econômicas dos inventariados. Na sequência, considerou-se o conjunto das riquezas líquidas dos processos e a composição das propriedades de cada indivíduo. Os dados demonstram ter havido uma extrema desigualdade na distribuição da riqueza em Campinas. Todavia, também encontramos casos de mobilidade ascendente, especialmente entre os imigrantes italianos, que foram maioria no conjunto das colônias estrangeiras do período.The origins of São Paulos economic vigour and social diversity are topics broadly studied by historians and economists. In this thesis, we investigate the wealth accumulation in Campinas during the coffee economy from 1870 to 1940 a period that begins with the zenith of the coffee production, stretching itself to the first glimpses of a more industrial economy. The leading source used is a sample of post-mortem inventories, from which we codified the inventoried personal data and their declared and budgeted properties listed in their apportionments. The national origins and the economic occupations of the inventoried were primarily analysed. Further, the amount of net wealth of the processes and the composition of the properties of each individual were considered. The data suggest there had been an extreme inequality in the distribution of such wealth. Nevertheless, we found several cases of ascending mobility, especially amongst the Italian immigrants, who represented the majority among the immigrant families in the period.
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Lloyd, M. S. "The place of ideas about property in political theory, in Great Britain between 1750-1850 : With special reference to labour and value theories, and the distribution of wealth between classes." Thesis, University of Warwick, 1986. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.380779.
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Sexauer, Martin. "Verteilungswirkung und Effizienz der Erbschaftsteuer." Doctoral thesis, Saechsische Landesbibliothek- Staats- und Universitaetsbibliothek Dresden, 2004. http://nbn-resolving.de/urn:nbn:de:swb:14-1101911634203-25444.
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Die Arbeit befasst sich im Rahmen eines Modells überlappender Generationen hauptsächlich mit der Frage, wie sich das Vererben von Vermögen und die Besteuerung der Erbschaften auf die Vermögensverteilung auswirkt. Darüber hinaus wird allgemeiner der Aspekt der Effizienz der Erbschaftsteuer untersucht. Zudem werden verschiedene Vererbungsmotive behandelt, Ungleichheitsmaße vorgestellt und ein kurzer Einblick in das deutsche Erbschaftsteuerrecht gegeben.
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Bispo, Jorge de Souza. "Criação e distribuição de riqueza pela Zona Franca de Manaus." Universidade de São Paulo, 2009. http://www.teses.usp.br/teses/disponiveis/12/12136/tde-04122009-161933/.
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Este trabalho avalia os efeitos dos incentivos fiscais concedidos às indústrias instaladas na Zona Franca de Manaus na criação e distribuição de riqueza. A plataforma teórica tem como pilares as teorias sobre comércio exterior e a dos stakeholders, aliadas aos conceitos relativos às políticas de desenvolvimento econômico, às políticas de desenvolvimento industrial e aos incentivos fiscais. O modelo industrial Zona Franca de Manaus é caracterizado como Zona de Livre Comércio. Discute-se os conceitos, vantagens, desvantagens da Demonstração de Valor Adicionado (DVA) como instrumento contábil para medir a criação e distribuição de riqueza. A amostra deste estudo foi selecionada entre as indústrias instaladas na ZFM que publicam as demonstrações financeiras do banco de dados mantidos pela FIPECAFI, base para a edição Melhores e Maiores, da Revista Exame. Dentre essas empresas foram selecionadas 30 (trinta) para análise quanto à forma de contabilização dos incentivos fiscais, totalizando 150 (cento e cinquenta) demonstrações contábeis no período de 2003 a 2007. Para a análise de criação e distribuição de riqueza foram selecionadas todas as indústrias que elaboram e/ou divulgam a Demonstração de Valor Adicionado (DVA). Foram analisadas ao total 73 Demonstrações de Valor Adicionado para o período de 2003 a 2007 e comparadas a criação e a distribuição de riqueza com outros grupos de indústrias, localizados fora da Zona Franca de Manaus. Foram analisados os setores de autoindústria, bens de consumo e indústrias digital e de eletroeletrônicos e um grupo de controle de empresas pares, escolhidas em função da similaridade do setor de atuação e faturamentos. Para a comparação da forma de contabilização dos incentivos fiscais, especificamente o ICMS, foi utilizada a técnica de análise de conteúdo e estatística descritiva entre os grupos que contabilizam de forma correta e os que contabilizam de forma errada. Foram encontradas quatro formas de contabilização, nas quais se destacam 66,7% que contabilizam de forma errada e 20% de forma correta. Para a análise da criação de riqueza pelas empresas foram utilizadas as técnicas estatística análise de regressão e teste de média. Pela técnica de regressão linear as empresas industriais instaladas na Zona Franca de Manaus criam, em média, 30,96% de riqueza em função do faturamento, enquanto as empresas pares situadas fora dessa região criam, em média, 45,08%. Ao aplicar o teste de média, as empresas situadas na Zona Franca de Manaus, criam, em média 31,07% ao passo que as empresas pares situadas fora criam, em média, 54,36%. Destaque-se o fato de que as empresas industriais instaladas na Zona Franca de Manaus que contabilizam os incentivos fiscais, de maneira errada, especificamente o ICMS, evidenciam e publicam, de maneira equivocada, a criação de riqueza, em média, de 42,85% pela regressão linear e 32,41% pela média. Para a distribuição de riqueza foi pesquisada a distribuição para três grupos: pessoal, governos e proprietários. Foi utilizado o teste de média e os achados mostram que enquanto as empresas industriais instaladas na ZFM distribuem 27,28%, 54,42% e 1,82% aos empregados, governos e proprietários, respectivamente, as empresas pares situadas fora distribuem 36,31%, 41,54% e 6,44%, respectivamente. Os resultados finais da pesquisa chegam à conclusão que os incentivos fiscais concedidos pelo modelo industrial Zona Franca de Manaus às indústrias instaladas naquela região criam menos riqueza do que os mesmos setores ou similares instalados fora e sem os incentivos fiscais e distribuem menos riqueza aos empregados e aos proprietários, mas possuem efeitos positivos na parcela de riqueza distribuída aos governos, em função da riqueza criada.This thesis assesses the effects of tax incentives granted to industrial enterprises located at the Manaus Free Trade Zone as far as generation and distribution of wealth goes. The theories of foreign trade and of stakeholders are the foundation, alongside concepts concerning policies of industrial development and tax incentives. The Free Trade Zone industrial model is characterized as a zone of free trade in its own right. Topics of discussion include the concepts, advantages, and disadvantages of Value Added Statements (VAS) as an accounting tool to measure the creation and distribution of wealth. The research sample was selected among the enterprises operating within MFTZ that disclose financial statements at the database kept by Fipecafi, which in turn feeds the issues of Maiores e Melhores, published by Exame Magazine. Thirty enterprises were then selected for analysis as to the way of accounting tax incentives, totaling 150 (a hundred and fifty) accounting statements in the period comprised between 2003 and 2007. All the industrial enterprises which produce and/or publish Value Added Statements were used in the part dedicated to the analysis of creation and distribution of wealth. On the whole, seventy three Value Added Statements were studied for the 2003-2007 period, and these were compared with the creation and distribution of wealth by other enterprises selected and set up outside Manaus Free Trade Zone. The sectors selected were automobile, consumer goods, digital products, and electric-electronic goods, together with a counterpart control group, chosen due to similarities in type of product and income. In order to compare the way tax incentives, in special ICMS (Value Added Tax on Sale and Services) are accounted, the content technique and the descriptive analysis were used with both, the groups that account these incentives correctly and the ones that do so incorrectly. Four accounting possibilities were found, and among them the emphasis lies on a 66.7% of wrong accounting manner, and a 20% of correct accounting manner. In order to perform the analysis of wealth creation by enterprises, the study resorted to regression analysis and mean test. The linear regression technique showed that industrial enterprises within MFTZ generate around 30.96% of wealth due to income, while counterpart enterprises located elsewhere generate an average 45.08%. The mean test demonstrates that enterprises located within the MFTZ create an average 31.07%, whereas the control group generates an average 54.39% wealth. It must be emphasized that enterprises that are placed within MFTZ, account tax incentives, especially ICMS incorrectly, disclose and publish wealth creation in the wrong way are an average 42.85% by linear regression and an average 32.41% by mean test. As to wealth distribution, three groups of recipients of wealth produced were analyzed: employees, governments, and shareholders. The mean test was used and the findings show that whereas enterprises in MFTZ dispense 27.85, 54.42%, and 1.82% respectively to employees, governments and shareholders, the control group distributes 36.31%, 41.54%, and 6,44% respectively. The final results of the research point to the conclusion that tax incentives granted by the industrial model of Manaus Free Trade Zone to enterprises located in that region generate less wealth than counterpart enterprises located outside the zone and which do not benefit from those incentives; besides, they distribute less wealth to employees and shareholders, but perform positively as to share of wealth granted to governments due to the wealth created.
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Martins, Rafael Franco. "Uma proposta de modelagem por agentes para o problema da herança e desigualdade econômica." Universidade de São Paulo, 2017. http://www.teses.usp.br/teses/disponiveis/100/100132/tde-12042017-111602/.
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Nos últimos anos a preocupação com uma possível elevação da desigualdade social aumentou consideravelmente, principalmente por conta da obra de Piketty intitulada O Capital no século XXI. Para Piketty a diminuição da natalidade entre os ricos será um dos pontos cruciais para este aumento. As previsões contidas no livro são avassaladoras, se nada for feito a desigualdade aumentará a ponto de ameaçar a democracia e os sistemas políticos e sociais vigentes. Porém, alguns economistas, como por exemplo: Matthew Rognlie, não concordam com esta tese e apontam supostos erros e falhas cometidos pelo economista francês. O intuito deste trabalho é tentar um caminho diferente do trilhado por Piketty, utilizando outros meios e técnicas, este trabalho se propõem a analisar a questão da desigualdade causada pela herança dos bens. Para tanto, foi implementado e adaptado o algoritmo descrito no artigo A family-network model for wealth distribution in societies para analisar esta questão à luz de técnicas e métodos como: monte carlo, grafos e simulações computacionais. O resultado obtido vai ao encontro dos resultados obtidos por PikettyIn recent years a concern for a possible rise in social inequality has increased considerably, especially on account of Piketty\'s work entitled \"Capital in the 21st Century.\" For a small reduction in the birth rate among the rich, it will be one of the crucial points for this increase. As predictions contained in the book are overwhelming, there is nothing for an inequality will increase a threatening point to democracy and existing political and social systems. However, some economists, such as Matthew Rognlie, do not agree with this article and point out supposed errors and failures committed by the French economist. The purpose of this paper is to try a different path from Piketty, using other means and techniques, this work is useful for an analysis of the issue of inequality caused by the inheritance of goods. A model of family network for the distribution of wealth in societies \"to a model of family network for the distribution of wealth in societies. The result obtained is in line with the results obtained by Piketty
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Jackson, Vanessa L. "TOMMI'S PLACE: AN ADAPTATION AND COMMENTARY ON UNCLE TOM'S CABIN." VCU Scholars Compass, 2018. https://scholarscompass.vcu.edu/etd/5667.
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Harriet Beecher Stowe penned Uncle Tom’s Cabin which was published in 1852. This book exposed and condemned the atrocities of slavery. Her book became a bestseller and is said to be one of the primary reasons why slavery was eventually abolished. Though slavery has been dismantled the system of oppression which allowed the marginalization of others to thrive has never been eliminated. This system established a dominant culture; one which oppresses those of African descent and has endured for centuries. Tommi’s Place retells Uncle Tom’s Cabin in contemporary corporate America. Tommi’s Place reflects that this system of oppression is still alive and well today. It exists in the form of discriminatory practices that thwart, prevent, preclude, and stop the advancement of the marginalized especially those of African descent.
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Mendes, Neto Edilberto Batista. "Evolução e distribuição de riqueza da cultura de soja nas principais regiões produtoras no Brasil." Universidade Federal de Uberlândia, 2015. https://repositorio.ufu.br/handle/123456789/12622.
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The subsector of Brazilian agribusiness has a highlight and growth scenario in GDP composition. Culture and soybean trade in grains have shown performance in the Brazilian economy, representing the trade 27 % of exports in the country. Farming soybeans, in the perception of society, government and the owners, is known to have a high degree of Wealth, understood by the fact that their activity attract jobs, income sources and improved quality of services. In addition, we identified, in theory, instruments that allow measuring the value of this wealth and its distribution. The objective of this work is to understand the process of evolution and wealth distribution seen in crop soybean in Brazil, understood from 1998 to 2014. To meet these goals, data adequacy was held on Wealth, identifying eleven variables, the time horizon of 17 years. The study was delimited to five producing cities represented in the soybean cultivation in the South and Midwest. The analysis presents descriptive and quantitative, has been carried out in two steps: the creation of the comparative examination of the evolution of elements of Wealth by Analysis of Variance and subsequently the bivariate correlation, evaluating the membership level of the variable results with other data. The results showed that the Wealth Generated, costs Seeds and Pesticides, Equity Compensation and the results have similar characteristics in major producing regions when evaluated the average values. The relevance of this study is the theoretical contribution highlighting elements that make up the Value Added cultivation of soybeans.O subsetor do agronegócio brasileiro apresenta um cenário de crescimento e destaque na composição do Produto Interno Bruto. A cultura e o comércio de soja em grãos têm apresentado um desempenho na economia brasileira, representando o comércio em 27% das exportações no país. A atividade agrícola da sojicultora, na percepção da sociedade, do governo e dos proprietários, é conhecida por apresentar um elevado grau de Riqueza, compreendida pelo fato de sua atividade atrair empregos, fontes de renda e melhoria na qualidade de serviços. Além disso, foram identificados, na teoria, instrumentos que possibilitam mensurar o valor dessa Riqueza e a sua forma de distribuição. O objetivo deste trabalho é a compreensão do processo de evolução e de distribuição de riqueza observado na cultura agrícola de soja no Brasil, compreendido no período de 1998 a 2014. Para atender a esses propósitos, foi realizada adequação de dados sobre a Riqueza, identificando-se onze variáveis, no horizonte temporal de 17 anos. O estudo foi delimitado a cinco cidades produtoras com representatividade no cultivo de soja na Região Sul e Centro-Oeste. A análise apresenta caráter descritivo e quantitativo, tendo sido realizada em duas etapas: a realização do exame comparativo dos elementos de evolução da Riqueza por meio da Análise de Variância e, posteriormente, a Correlação Bivariável, avaliando-se o nível de associação da variável Resultado com os demais dados. Os resultados apontaram que a Riqueza Gerada, Custos com Sementes e Agrotóxicos, Remuneração de Capital Próprio e o Resultado possuem características semelhantes nas grandes regiões produtoras quando avaliados o valores médios. A relevância deste estudo está na contribuição teórica que evidencia elementos que configuram o Valor Adicionado do cultivo da soja em grão.
Mestre em Ciências Contábeis
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Izquierdo, Mario. "Welcome to Malawi : A critical study on the relationship between equity and sustainable tourism." Thesis, Linnéuniversitetet, Institutionen för organisation och entreprenörskap (OE), 2017. http://urn.kb.se/resolve?urn=urn:nbn:se:lnu:diva-65926.
Full textAbstract:
Despite the important attention paid by tourism scholars to sustainable tourism development in recent years, and being 2017, the International Year of Sustainable Tourism for Development, this thesis suggests that there has been a lack of studies concerning the significant issue of equity within sustainable tourism in the current literature. Therefore, this thesis aims to conduct a critical exploration of the relationship between equity and sustainable tourism. In order to achieve this aim, an extensive literature review upon the concepts of equity and sustainable tourism was implemented. In addition, this study provides findings from a three-month fieldwork undertaken in a touristic area in Malawi. The findings suggest that great inequalities of wealth and power take place in sustainable tourism. It is argued that a fair distribution of tourism benefits means the reduction of the salary gap between the wealthy and developing countries and to empower local populations to undertake managing positions. Furthermore, this study suggests that more critical research is needed on the relations of power in the tourism field and the fair distribution of tourism benefits in order to achieve global sustainability.
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Bjellerup, Mårten. "Essays on Consumption : - Aggregation, Asymmetry and Asset Distributions." Doctoral thesis, Växjö universitet, Ekonomihögskolan, EHV, 2005. http://urn.kb.se/resolve?urn=urn:nbn:se:vxu:diva-406.
Full textAbstract:
The dissertation consists of four self-contained essays on consumption. Essays 1 and 2 consider different measures of aggregate consumption, and Essays 3 and 4 consider how the distributions of income and wealth affect consumption from a macro and micro perspective, respectively. Essay 1 considers the empirical practice of seemingly interchangeable use of two measures of consumption; total consumption expenditure and consumption expenditure on nondurable goods and services. Using data from Sweden and the US in an error correction model, it is shown that consumption functions based on the two measures exhibit significant differences in several aspects of econometric modelling. Essay 2, coauthored with Thomas Holgersson, considers derivation of a univariate and a multivariate version of a test for asymmetry, based on the third central moment. The logic behind the test is that the dependent variable should correspond to the specification of the econometric model; symmetric with linear models and asymmetric with non-linear models. The main result in the empirical application of the test is that orthodox theory seems to be supported for consumption of both nondurable and durable consumption. The consumption of durables shows little deviation from symmetry in the four-country sample, while the consumption of nondurables is shown to be asymmetric in two out of four cases, the UK and the US. Essay 3 departs from the observation that introducing income uncertainty makes the consumption function concave, implying that the distributions of wealth and income are omitted variables in aggregate Euler equations. This implication is tested through estimation of the distributions over time and augmentation of consumption functions, using Swedish data for 1963-2000. The results show that only the dispersion of wealth is significant, the explanation of which is found in the marked changes of the group of households with negative wealth; a group that according to a concave consumption function has the highest marginal propensity to consume. Essay 4 attempts to empirically specify the nature of the alleged concavity of the consumption function. Using grouped household level Swedish data for 1999-2001, it is shown that the marginal propensity to consume out of current resources, i.e. current income and net wealth, is strictly decreasing in current resources and net wealth, but approximately constant in income. Also, an empirical reciprocal to the stylized theoretical consumption function is estimated, and shown to bear a close resemblance to the theoretical version.