We find an increasing trend towards inequality between 1870 and 1920, which can be explained as a process of inequality both within individual countries and among countries. This trend is discussed along three lines: the relationship between inequality and per capita income levels; the dynamics of ...
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too.69These issues are not new, but the prospect of a new era in the coming years makes their resolution all the more urgent. Can Latin America mobilize its strengths—collectively and within its individual economies—not only to weather the current turbulence but to thrive in a new era as...
Using data on 16 million public purchases in Russia, we show that 39 percent of the variation in prices paid for narrowly defined items is due to the individual bureaucrats and organizations who manage procurement. Low-price buyers also disp...
While undoubtedly other critical social scientists in Latin America and beyond had reached similar conclusions, to ECLA’s credit it took the initiative to overcome this deficiency by systematically building a database for each individual Latin American economy as well as for the region as a whole,...
Using data on 16 million public purchases in Russia, we show that 39 percent of the variation in prices paid for narrowly defined items is due to the individual bureaucrats and organizations who manage procurement. Low-price buyers also display higher spending quality. Theory suggests that such di...
We present a tractable dynamic general equilibrium model of self-fulfilling bank runs, where banks trade capital in competitive and liquid markets but remain vulnerable to runs due to a loss of creditor confidence. We characterize how the vulnerability of an individual bank depends on its leverage ...
Using data on 16 million public purchases in Russia, we show that 39 percent of the variation in prices paid for narrowly defined items is due to the individual bureaucrats and organizations who manage procurement. Low-price buyers also display higher spending quality. Theory suggests that such di...
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Each reduction of $100 from income that otherwise would be taxed at the 37% rate would save the taxpayer $37 if the individual's income falls into the top 37% tax bracket, The savings for a $100 reduction in income would be only $24 if the applicable rate is 24%. This allowance of...