The Great Divide Regional Inequality And Fiscal Policy

Author : William Gbohoui
Publisher : International Monetary Fund
ISBN 13 : 1498311628
Total Pages : 41 pages
Book Rating : 4.25/5 ( download)

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Download or read book The Great Divide: Regional Inequality and Fiscal Policy written by William Gbohoui and published by International Monetary Fund. This book was released on 2019-05-02 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: Growing regional inequality within countries has raised the perception that “some places and people” are left behind. This has prompted a shift toward inward-looking policies and away from pro-growth reforms. This paper presents novel stylized facts on regional inequality for OECD countries. It shows that regional disparity in per-capita GDP is large (even after adjusting for regional price differences), persistent, and widening over time. The paper also finds that rising nationwide income inequality is associated with both rising within-region income inequality and widening average income across regions. The rise in inequality is related to declining incentives for interregional labor mobility, especially for poor households in lagging regions, which are estimated to reduce by as much as one-third in the United States. Against these facts, the paper proposes a framework to identify whether, how and by whom fiscal policies can be used to tackle regional inequality. It outlines conditions under which those policies should be spatially-targeted and illustrates how they can be complementary to conventional means-testing methods in mitigating income inequality.

Author : William Gbohoui
Publisher : International Monetary Fund
ISBN 13 : 1498312837
Total Pages : 41 pages
Book Rating : 4.37/5 ( download)

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Download or read book The Great Divide: Regional Inequality and Fiscal Policy written by William Gbohoui and published by International Monetary Fund. This book was released on 2019-05-02 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: Growing regional inequality within countries has raised the perception that “some places and people” are left behind. This has prompted a shift toward inward-looking policies and away from pro-growth reforms. This paper presents novel stylized facts on regional inequality for OECD countries. It shows that regional disparity in per-capita GDP is large (even after adjusting for regional price differences), persistent, and widening over time. The paper also finds that rising nationwide income inequality is associated with both rising within-region income inequality and widening average income across regions. The rise in inequality is related to declining incentives for interregional labor mobility, especially for poor households in lagging regions, which are estimated to reduce by as much as one-third in the United States. Against these facts, the paper proposes a framework to identify whether, how and by whom fiscal policies can be used to tackle regional inequality. It outlines conditions under which those policies should be spatially-targeted and illustrates how they can be complementary to conventional means-testing methods in mitigating income inequality.

Author : Mr.Holger Floerkemeier
Publisher : International Monetary Fund
ISBN 13 : 1513569503
Total Pages : 35 pages
Book Rating : 4.05/5 ( download)

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Download or read book Regional Disparities, Growth, and Inclusiveness written by Mr.Holger Floerkemeier and published by International Monetary Fund. This book was released on 2021-02-12 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: We discuss regional disparities in economic performance and living standards. We first set out some key facts, and provide a conceptual framework to help analyze whether such disparities are efficient, or instead reflect market and/or policy failures. We examine whether policy attempts to reduce regional disparities necessarily involve a trade-off between equity and efficiency. We then investigate whether policymakers should focus on boosting the economic performance of lagging regions—or, conversely, accept the presence of regional disparities, and instead assist households in lagging regions through transfer payments, investments in education, health, and other basic services, and by facilitating out-migration.

Author : Joseph E. Stiglitz
Publisher : Viking
ISBN 13 : 9780141981222
Total Pages : 0 pages
Book Rating : 4.29/5 ( download)

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Download or read book The Great Divide written by Joseph E. Stiglitz and published by Viking. This book was released on 2016 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why has inequality increased in the Western world - and what can we do about it? In The Great Divide, Joseph E. Stiglitz expands on the diagnosis he offered in his best-selling book The Price of Inequality and suggests ways to counter this growing problem. With his characteristic blend of clarity and passion, Stiglitz argues that inequality is a choice - the cumulative result of unjust policies and misguided priorities. In these essays, articles and reflections, Stiglitz fully exposes the inequality - from its dimensions and its causes to its consequences for the world - that is afflicting America and other Western countries in thrall to neoliberalism. From Reagan-era policies to the Great Recession and its long aftermath, Stiglitz delves into the processes and irresponsible policies - deregulation, tax cuts for the rich, the corruption of the political process - that are leaving many people further and further behind and turning the dream of a socially mobile society into an ever more unachievable myth. With formidable yet accessible economic insight, he urges us to embrace real solutions: increasing taxes on corporations and the wealthy; investing in education, science, and infrastructure; helping homeowners instead of banks; and, most importantly, doing more to restore the economy to full employment. Stiglitz's analysis reaches beyond America - the inequality leader of the developed world - to draw lessons from Scandinavia, Singapore, and Japan, and he argues against the tide of unnecessary, destructive austerity that is sweeping across Europe. Ultimately, Stiglitz believes our choice is not between growth and fairness; with the right policies, we can choose both.

Author : International Monetary Fund. Research Dept.
Publisher : International Monetary Fund
ISBN 13 : 1513516175
Total Pages : 208 pages
Book Rating : 4.72/5 ( download)

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Download or read book World Economic Outlook, October 2019 written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 2019-10-15 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt: Global growth is forecast at 3.0 percent for 2019, its lowest level since 2008–09 and a 0.3 percentage point downgrade from the April 2019 World Economic Outlook.

Author : Mr.David Coady
Publisher : International Monetary Fund
ISBN 13 : 1484398084
Total Pages : 30 pages
Book Rating : 4.81/5 ( download)

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Download or read book Fiscal Redistribution and Social Welfare written by Mr.David Coady and published by International Monetary Fund. This book was released on 2019-03-08 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: Fiscal policy is a key tool for achieving distributional objectives in advanced economies. This paper embeds the discussion of fiscal redistribution within the standard social welfare framework, which lends itself to a transparent and practical evaluation of the extent and determinants of fiscal redistribution. Differences in fiscal redistribution are decomposed into differences in the magnitude of transfers (fiscal effort) and in the progressivity of transfers (fiscal progressivity). Fiscal progressivity is further decomposed into differences in the distribution of transfers across income groups (targeting performance) and in the social welfare returns to targeting due to varying initial levels of income inequality (targeting returns). This decomposition provides a clear distinction between the concepts of progressivity and targeting, and clarifies the relationship between them. For illustrative purposes, the framework is applied to data for 28 EU countries to determine the factors explaining differences in their fiscal redistribution and to discuss patterns in fiscal redistribution highlighted in the literature.

Author : Mr.David Coady
Publisher : International Monetary Fund
ISBN 13 : 1513547046
Total Pages : 27 pages
Book Rating : 4.46/5 ( download)

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Download or read book Designing Fiscal Redistribution: The Role of Universal and Targeted Transfers written by Mr.David Coady and published by International Monetary Fund. This book was released on 2020-06-26 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: There is a growing debate on the relative merits of universal and targeted social assistance transfers in achieving income redistribution objectives. While the benefits of targeting are clear, i.e., a larger poverty impact for a given transfer budget or lower fiscal cost for a given poverty impact, in practice targeting also comes with various costs, including incentive, administrative, social and political costs. The appropriate balance between targeted and universal transfers will therefore depend on how countries decide to trade-off these costs and benefits as well as on the potential for redistribution through taxes. This paper discusses the trade-offs that arise in different country contexts and the potential for strengthening fiscal redistribution in advanced and developing countries, including through expanding transfer coverage and progressive tax financing.

Author : Ms.Era Dabla-Norris
Publisher : International Monetary Fund
ISBN 13 : 1513547437
Total Pages : 39 pages
Book Rating : 4.35/5 ( download)

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Download or read book Causes and Consequences of Income Inequality written by Ms.Era Dabla-Norris and published by International Monetary Fund. This book was released on 2015-06-15 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes the extent of income inequality from a global perspective, its drivers, and what to do about it. The drivers of inequality vary widely amongst countries, with some common drivers being the skill premium associated with technical change and globalization, weakening protection for labor, and lack of financial inclusion in developing countries. We find that increasing the income share of the poor and the middle class actually increases growth while a rising income share of the top 20 percent results in lower growth—that is, when the rich get richer, benefits do not trickle down. This suggests that policies need to be country specific but should focus on raising the income share of the poor, and ensuring there is no hollowing out of the middle class. To tackle inequality, financial inclusion is imperative in emerging and developing countries while in advanced economies, policies should focus on raising human capital and skills and making tax systems more progressive.

Author : Donghyun Park
Publisher : Routledge
ISBN 13 : 1317530942
Total Pages : 320 pages
Book Rating : 4.47/5 ( download)

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Download or read book Inequality, Inclusive Growth, and Fiscal Policy in Asia written by Donghyun Park and published by Routledge. This book was released on 2015-04-17 with total page 320 pages. Available in PDF, EPUB and Kindle. Book excerpt: Developing Asia’s sustained rapid growth has improved general living standards and lifted hundreds of millions of Asians out of poverty within a generation. Yet the region now finds itself confronting rising inequality. Countries where inequality has worsened over the past 2 decades collectively account for over 80% of Asia’s population. As a result, governments across the region have begun to accord a higher priority to promoting more inclusive growth. The international experience, especially the experience of the advanced economies, suggests that fiscal policy can make a potent contribution to reducing inequality. This book systematically explores the relationship between both sides of fiscal policy—public spending as well as taxes and other fiscal revenues—and inequality in Asia at great depths. On the basis of the analysis, the book sets forth a number of concrete options for rendering fiscal policy a more effective tool for more inclusive growth that benefits all Asians. Inequality, Inclusive Growth, and Fiscal Policy in Asia is written in response to an issue of growing demand in most Asian countries, and it comes at a time when Asian governments are also beginning to use fiscal policy to bridge the glaring disparities between the rich and the poor of the region. As such, the book will be a highly valuable reference for researchers, policy makers, and students as well.

Author : International Monetary Fund
Publisher : International Monetary Fund
ISBN 13 : 1513543660
Total Pages : 60 pages
Book Rating : 4.66/5 ( download)

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Download or read book Finance & Development, June 2020 written by International Monetary Fund and published by International Monetary Fund. This book was released on 2020-06-01 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: Finance & Development, June 2020