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on Central and South America |
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Issue of 2005‒04‒03
three papers chosen by |
| By: | M.F.Meyer Bittencourt |
| Abstract: | This paper examines how macroeconomic performance affected earnings inequality during the 1980’s and early 90’s in Brazil. The evidence shows that the chronic high inflation existent at the time had a clear and significant effect in raising inequality. The results based on panel time series data and analysis are robust for different concepts of inflation, inequality measures, estimators and specifications. The economic intuition suggests that high inflation rates combined with incomplete indexation coverage more than offset any progressive effect expectedly coming from the debtor and creditor channel. Hence, credible and stable macroeconomic policies, which keep inflation low and under control in the long run is to be a necessary first step of any public policy package implemented to tackle the high levels of inequality existent in Brazil. |
| Keywords: | Inequality, inflation, indexation |
| JEL: | C50 D30 E31 E32 |
| Date: | 2005–01 |
| URL: | http://d.repec.org/n?u=RePEc:bri:cmpowp:05/114&r=lam |
| By: | Leandro Prados de la Escosura |
| Abstract: | When did Latin America fall behind?. Has the gap between developed countries and Latin America widened over time?. This paper addresses these recurrent questions with the tools provided by the inequality literature. Long-run inter-country inequality is assessed in terms of real (purchasing power-adjusted) GDP per head and of an ‘improved’ human development index as an indicator of welfare for present-day OECD and Latin America. A long term rise in income inequality is observed for this sample of countries with the deepening gap between OECD and Latin America as its main determinant. Contrary to a widespread view, in terms of income, Latin America fell behind in the late twentieth century. Inequality in terms of human development declined over time, but the gap between OECD and Latin America remained largely unchanged. |
| Date: | 2004–12 |
| URL: | http://d.repec.org/n?u=RePEc:cte:whrepe:wh046604&r=lam |
| By: | Mutz,Christine; Ziesemer,Thomas (MERIT) |
| Abstract: | Prebisch and Singer (henceforth PS) have initiated several debates in economics, which have generated much research. Some of these debates may have converged to a compromise, whereas others are much less researched. We briefly summarize them in the next section in order to point out that the implications for growth theory have been largely neglected. Then we will present a growth model and estimate which show that income and price elasticities matter for long-run growth. |
| Keywords: | Economics ; |
| Date: | 2005 |
| URL: | http://d.repec.org/n?u=RePEc:dgr:umamer:2005007&r=lam |