Quite abruptly income inequality has returned to the political agenda as a prominent societal issue. At least part of this can be attributed to Piketty’s provoking premise of rising concentration at the top end of the income and wealth distribution in Capital in the Twenty-First Century (2014), providing some academic ground for the ‘We are the 99 percent’ Occupy movement slogan. Yet, this revitalisation of inequality is based on broader concerns than the concentration at the very top alone.
As a football team, the Dallas Cowboys are mired in mediocrity. In the 19 years since they last won the Super Bowl, their regular season record is a middling 146-142. The team made the playoffs seven times during that span, with only two wins to show for its efforts. The prognosis for the 2014 season is more of the same.
On September 18, Scots will go to the polls to vote on the question “Should Scotland be an independent country?” A “yes” vote would end the political union between England and Scotland that was enacted in 1707. The main economic reasons for independence, according to the “Yes Scotland” campaign, is that an independent Scotland would have more affordable daycare, free university tuition, more generous retirement and health benefits, less burdensome regulation, and a more sensible tax system.
Long-run trends suggest a broad shift is taking place in the institutional financing structure that supports academic research. According to data compiled by the OECD reported in Figure 1, industry sources are financing a growing share of academic research while “core” public funding is generally shrinking. This ongoing shift from public to private sponsorship is a cause for concern because these sponsorship relationships are fundamentally different.
As anyone who has flown United in the past quarter-century knows, the company has a long-standing history with George Gershwin’s Rhapsody in Blue. The piece appears in its television advertisements, its airport terminals, and even its pre-flight announcements. However, the history of United’s use of the piece is far from straight forward.
I was not that young when New Europe’s transition began in 1989, but I was there: in Poland at the start of the 1990s and in Russia during its 1998 crisis and after, in both cases as the resident economist for the World Bank. This year is the 25th anniversary of New Europe’s transition and the sixth year of Old Europe’s growth-cum-sovereign debt crisis.
In 1985, Nobel Laureate Gary Becker observed that the gap in employment between mothers and fathers of young children had been shrinking since the 1960s in OECD countries. This led Becker to predict that such sex differences “may only be a legacy of powerful forces from the past and may disappear or be greatly attenuated in the near future.”
Is there gender gap in pay on the boards of listed Spanish firms? If there is, what are the factors behind the gender gap in pay? We sought to find the answers to these questions. Over the last few decades, payments for men have been consistently higher than those for women, even when they hold the same post and have been educated to the same level.
By Richard S. Grossman
As an early-stage graduate student in the 1980s, I took a summer off from academia to work at an investment bank. One of my most eye-opening experiences was discovering just how much effort Wall Street devoted to “Fed watching,” that is, trying to figure out the Federal Reserve’s monetary policy plans.
By Giulio Fella and Giovanni Gallipoli
Crime is a hot issue on the policy agenda in the United States. Despite a significant fall in crime levels during the 1990s, the costs to taxpayers have soared together with the prison population. The U.S. prison population has doubled since the early 1980s and currently stands at over 2 million inmates. According to the latest World Prison Population List (ICPS, 2013), the prison population rate in 2012 stood at 716 inmates per 100,000 inhabitants, against about 480 in the United Kingdom and the Russian Federation.
By Kai A. Konrad and Marcel Thum
Adaptation to climate change is currently high on the agenda of EU bureaucrats exploring the regulatory scope of the topic. Climate change may potentially bring about changes in the frequency of extreme weather events such as heat waves, flooding or thunder storms, which in turn may require adaptation to changes in our living conditions. Adaptation to these conditions cannot stop climate change, but it can reduce the cost of climate change.
Forrest Briscoe and Andrew von Nordenflycht
The recent firing of Jill Abramson, the first female executive editor of the New York Times, after less than three years on the job focused the news cycle on gender inequity, with discussions of glass cliffs (women get shorter leashes even when they get the top jobs) and reports showing the persistence of glass ceilings and pay disparities (e.g. Abramson was paid less than her male predecessor).
In most studies of economic growth the downloaded data from international databases is treated as primary evidence, although in fact it is not. The data available from the international series has been obtained from governments and statistical bureaus and has then been modified to fit the purpose of the data retailer and its customers
By Adam D. Dixon
In early April 2014 Greece returned to the sovereign bond market raising 3 billion Euros, following a four-year hiatus. This marked a turning point in the global financial and economic crisis that began in 2008 with the collapse of the subprime mortgage market in the United States and the advanced-economy recessions that ensued.
By Susan Kneebone
As recent demonstrations in Brazil around the staging of the FIFA 2014 World Soccer Cup show, major sporting events put the spotlight on human rights issues in host countries. In the case of Qatar the preparations to host the FIFA 2022 World Cup are focussing worldwide attention on the plight of migrant workers.
By Richard S. Grossman
What do the Irish famine and the euro crisis have in common? The famine, which afflicted Ireland during 1845-1852, was a humanitarian tragedy of massive proportions. It left roughly one million people—or about 12 percent of Ireland’s population—dead and led an even larger number to emigrate. The euro crisis, which erupted during the autumn of 2009, has resulted in a virtual standstill in economic growth throughout the Eurozone in the years since then.