We develop adjustments to align the NIPA measures of key household flows with cash flow concepts that better reflect household budgets and demand.
Using data on industrial air pollution exposure in the United States, we compute three measures of environmental inequality: the Gini coefficient of exposure, the ratio of median exposure of minorities to that of non-Hispanic whites, and the ratio of median exposure of poor households to that of nonpoor households.
This paper is based on a social accounting matrix (SAM) which incorporates the size distribution of income based on data from the BEA national accounts, the widely discussed 2012 CBO distribution study, and BLS consumer surveys.
Owing to its strong dependence on exports, Germany was among the economies hit hardest by the financial crisis.
Rising inequality reduced income growth for the bottom 95 percent of the US personal income distribution beginning about 1980.
The interaction between social structure and markets remains a central theme in the social sciences. In some instances, markets can build on and enhance social networks’ economic role; in other contexts, markets appear to be in direct competition with social networks. The impact of markets on inequality and welfare is also varying: while markets can sometimes offer valuable outside options to marginalised individuals, in other situations only well connected and better off individuals can benefit from them.
Individuals derive benefits from their connections, but these may, at the same time, transmit external threats. Individuals therefore invest in security to protect themselves. However, the incentives to invest in security depend on their network exposures. We study the problem of designing a network that provides the right individual incentives.
It is instructive to view the study of networks in economics as a shift in paradigm, in the sense of Kuhn (1962). This perspective helps us locate the innovation that networks bring to economics, appreciate different strands of the research, assess the current state of the subject and identify the challenges.
The economics of religion is a relatively new field of research in economics. This survey serves two purposes – it is backward-looking in that it traces the historical and sociological origins of this field, and it is forward-looking in that it examines the insights and research themes that are offered by economists to investigate religion globally in the modern world.
The tension between efficiency and equilibrium is a central feature of economic systems. In many contexts, social networks mediate this trade-off: an individual’s network position determines equilibrium play, and social relations allow coordination on an efficient norm.
This paper examines the effects of intra-financial lending – claims between financial institutions – on aggregate investment and credit to the non-financial sector in the United States.
Anyone who has spent time in a developing country knows the importance of social connections. Among their many roles, these connections help individuals land jobs, and provide them with credit and other forms of support.
The Political Movement that Dared not Speak its own Name: The Neoliberal Thought Collective Under Erasure
Why do so many people who should know better argue that Neoliberalism ‘does not exist’?
Since the outbreak of the Greek debt crisis at the end of 2009, the Eurozone finds itself in an unprecedented debt crisis.
Can China lead the way on innovation?