Essays on Economic Growth and Development from an Intergenerational Perspective PDF Download

Author: Kenya Kura
Publisher:
ISBN:
Category : Developing countries
Languages : en
Pages : 404

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Author: Seunghee Lee (Economist)
Publisher:
ISBN:
Category : Equality
Languages : en
Pages : 0

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As the interest in Economics on inequality has exploded, intergenerational mobility is one of the fundamental areas concerning inequality since it is related to many normative questions such as equal opportunity and fairness. Despite its importance, research on measuring intergenerational mobility has received relatively little attention. The dominant approach is still the scalar-based regression approach, which employs a regression of some statistics of offspring on some statistics of parents. In connection with this issue, this dissertation introduces a novel measure for intergenerational mobility based on modern economic theory and empirically analyzes intergenerational mobility in the U.S. and Korea.The first chapter analyzes the empirical aspect of the relationship between parental income trajectory and a child's success in the U.S. using a novel approach, functional approach.In particular, we find that parental income when their children are in their late teens is more correlated with children's income in their early 30s. In addition, children whose parental income tends to increase in their late teens are more likely to have a higher economic position than their parents. This implies that upward income mobility is positively associated with the steadily increasing economic status of the family over the first 20 years of children's life. Investigated further are the effects on explaining a child's success of the role of other trajectories, such as the family structure of unemployment and job type of household head, and the impact of parental education level. We also investigate the association between parental income profile and their children's college attendance and derive a similar finding that late teens are crucial periods when parents' income has a more significant impact on children's educational success.While the first chapter addresses issues in intergenerational mobility in the U.S., the second chapter focuses on intergenerational mobility in Korea. In the second chapter, using a similar approach to Chapter 1, we analyze the intergenerational mobility in all three dimensions - income, education, and occupation. In addition, reflecting Korea's unique historical and social characteristics, we study the association between investment in private tutoring and a child's economic and educational success. Our findings highlight the importance of parental intervention in teens on a child's educational success. The pattern of parental income profile of the upward mobility group shows a stronger upward trend than that of the downward mobility group, similar to what we observe in the U.S. data in Chapter 1. In Korea, both upward and downward mobility groups show steadily increasing parental income trajectories, reflecting the rapid economic growth Korea has experienced over the last six decades. This interesting and unique finding of mobility patterns in Korea reveals various social and economic structural changes Korea has gone through.The third chapter studies the various methodological issues. In this chapter, we consider how our functional estimate can be varied by the fluctuation of measurement error in parental income. Using Beveridge-Nelson decomposition, we decompose parental income into permanent and transitory components and consider the transitory component as a measurement error. We also compare our estimation method with the methods based on the fixed basis approach. Using too many bases in this approach yields nonsensical estimates, while the estimates using too few bases strongly depend on the shape of the basis. We also find that the fixed basis approach is not robust to measurement error. A possible endogeneity issue is also studied in this chapter. Parental income can affect their children's success through two channels, transmission of human capital and providing financial resources. To focus on the effect of financial resources, we measure intergenerational income mobility using instrumental variables to control the effect of human capital.

Author: Danyang Xie
Publisher:
ISBN:
Category : Economic development
Languages : en
Pages : 226

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Author: Ronald Demos Lee
Publisher: Edward Elgar Publishing
ISBN: 0857930583
Category : Social Science
Languages : en
Pages : 617

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'While there already exists a crowded body of publications addressing the effect of an aging population on the economy, this monograph is most outstanding in presenting a global, in-depth analysis of the implications thereby generated for 23 developed and developing countries. . . Scholars, researchers, and practitioners everywhere will benefit immensely from this comprehensive work.' – H.I. Liebling, Choice 'Ron Lee and Andrew Mason's Population Aging and the Generational Economy is a demographic and economic tour-de-force. Their collaborative, intercontinental. . . study of aging, consumption, labor supply, saving, and private and public transfers is the place to go to understand global aging and its myriad and significant economic challenges and opportunities.' – Laurence Kotlikoff, Boston University, US 'The culmination of. . . work by Lee, Mason, and their collaborators from around the world to extend Samuelson's framework to accommodate realistic demography, empirical measurement of age-specific earnings, consumption, tax payments, and benefit receipts, the studies. . . demonstrate the power of this integrated economic-demographic framework to advance our understanding of critical public policy challenges faced by countries at different stages of demographic transition and population aging.' – Robert Willis, University of Michigan, US 'Lee and Mason have done scholars and practitioners a magnificent service by undertaking this comprehensive, compelling, and supremely innovative examination of the economic consequences of changes in population age structure. The book is a bona fide crystal ball. It will be a MUST READ for the next decade!' – David Bloom, Harvard School of Public Health, US 'Population Aging and the Generational Economy provides an encompassing account of what we know about population aging and the impact that this process will have on our economies. It does not confine itself to the advanced industrial countries, where aging has already been largely studied, but adopts a truly global perspective. I am sure it will become a key reference for researchers, students and those involved in policy-making in areas that are affected by population aging.' – Giuliano Bonoli, Swiss Graduate School of Public Administration (IDHEAP), Switzerland Over coming decades, changes in population age structure will have profound implications for the macroeconomy, influencing economic growth, generational equity, human capital, saving and investment, and the sustainability of public and private transfer systems. How the future unfolds will depend on key actors in the generational economy: governments, families, financial institutions, and others. This path-breaking book provides a comprehensive analysis of the macroeconomic effects of changes in population age structure across the globe. The result of a substantial seven-year research project involving over 50 economists and demographers from Africa, Asia, Europe, Latin America, and the United States, the book draws on a new and comprehensive conceptual framework – National Transfer Accounts – to quantify the economic lifecycle and economic flows across generations. It presents comprehensive estimates of both public and private economic flows between generations, and emphasizes the global nature of changes in population age structure that are affecting rich and poor countries alike. This unique and informative book will prove an invaluable reference tool for a wide-ranging audience encompassing students, researchers, and academics in fields such as demography, aging, public finance, economic development, macroeconomics, gerontology, and national income accounting; for policy-makers and advisers focusing on areas of the public sector such as education, health, pensions, other social security programs, tax policy, and public debt; and for policy analysts at international agencies such as the World Bank, the IMF, and the UN.

Author: Dalal Moosa
Publisher:
ISBN:
Category :
Languages : en
Pages : 0

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The first chapter notes a change in the composition of private intergenerational transfers inFrance over time, from more intrahousehold transfers in the 1980s to more inheritance in thenew millennium. Using a three-period overlapping generations model, we show that a risein wealth inequality can influence the composition of these transfer. However, the share ofintrahousehold transfers in human capital accumulation and the extent of the preference tobequeath can influence this inequality. The second chapter looks at the role of the demographic boom on the prevalence of informal employment, with the context of Egypt. We introduce overlapping generations of heterogeneous education levels in a multi-sectoral model. After calibrating and simulating the model, we show that a temporary demographic boom of better educated workers can have long-run effects on non-formality rates, interacting with output and prices. We contrast this actual dynamic adjustment with counterfactuals, emphasizing the importance of demographics and private sector constraints on non-formality rates. The third chapter examines the heterogeneity of micro and small enterprises (MSEs) inMorocco. These enterprises are grouped into three categories: top performers, potentialgazelles and “others.” The paper finds that top performers tend to do relatively well inall areas examined. Potential gazelles, on the other hand, appear to choose their sectorsof economic activity differently and appear to face particular constraints when it comes toaccess to credit and the ability to link to other businesses. Moreover, while formal firmsappear to exhibit significant heterogeneity, informal firms are less heterogeneous, showing asmall upper echelon that can compete with formal firms, while others are not starkly differentform each other.

Author: Zhenhua Chen
Publisher: Springer Nature
ISBN: 9811514356
Category : Business & Economics
Languages : en
Pages : 568

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This book examines major policy and planning issues in development studies from the regional science perspective. It investigates questions such as: “How are communities able to deal with uncertainties raised by conflicts, technology, and external shocks in the process of development?”; “How can nations achieve sustainable development in terms of resource allocation and management?”; and “How can developing countries improve their economic competitiveness while maintaining the objectives of equitable and coordinated growth among different regions?” using case studies that focus on different subfields, like infrastructure, environment, data science, sustainability and resilience. The book is organized in three parts. Part I clarifies fundamental issues regarding development studies and regional science in general, while Part II includes several case studies that address development-related opportunities and challenges with a focus on Asian countries. Lastly, Part III offers a global perspective and explores development experiences from countries throughout the world. Featuring contributions by leading academics and practitioners working at various organizations linked to international development, and including multidisciplinary analyses, the book appeals to students who are interested in development studies and regional science. It also offers planners and policymakers fresh insights into regional economic development.

Author:
Publisher:
ISBN: 9788772094939
Category :
Languages : en
Pages : 0

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Author: Girol Karacaoglu
Publisher: Springer
ISBN: 9811361045
Category : Political Science
Languages : en
Pages : 257

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The distinctive contribution of this book is the formulation of an integrated social, environmental, and economic framework for public policy. This contribution is realised through investigations and conclusions in the following four domains: a formal stylised model that provides a platform for an integrated approach to public policy; a policy-informing simulation model that can be used to operationalise the public policy insights proposed in the stylised model; the implications of introducing fundamental (or radical) uncertainty and complexity into the policy framework; and the use of viability theory to demonstrate how one can think of and implement public policy in an uncertain and complex world, when the focus of policy needs to shift to building resilience to systemic risks. The book’s stylised model is constructed by weaving together threads from the wellbeing, human needs, complex systems, sustainable development, endogenous economic growth, directed technical change, and credit-based-money literatures. Throughout, the perspective is that of a policy adviser to a "wellbeing state", as distinct from a "welfare state". The key linkages or relationships in the model are supported by empirical evidence that draws on the wider literature in related fields.

Author: Simon Kuznets
Publisher: Cambridge University Press
ISBN: 9780521343848
Category : History
Languages : en
Pages : 472

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Book Description
This collection of essays by 1971 Nobel Prize winner Simon Kuznets, published posthumously, represents the primary concerns of his research at a late phase of his career, as well as themes from his earlier work.

Author: James Feigenbaum
Publisher:
ISBN:
Category :
Languages : en
Pages :

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This dissertation explores intergenerational mobility and inequality in the early twentieth century. The first chapter asks whether economic downturns increase or decrease mobility. I estimate the effect of the Great Depression on mobility, linking a sample of fathers before the Depression to their sons in 1940. I find that the Great Depression lowered intergenerational mobility for sons growing up in cities hit by large downturns. The effects are driven by differential, selective migration: the sons of richer fathers are able to move to better destinations. The second chapter compares historic rates of intergenerational mobility to today. Based on a sample matched from the Iowa 1915 State Census to the 1940 Federal Census, I argue that there was more mobility in the early twentieth century than is found in contemporary data, whether measured using intergenerational elasticities, rank-rank correlations, educational persistence, or occupational status measures. In the third chapter, I detail the machine learning method used to create the linked census samples used in chapters 1 and 2. I use a supervised learning approach to record linkage, training a matching algorithm on hand-linked historical data which is able to efficiently and accurately find links in noisy in historical data.