[PDF] Macroeconomic Policy Redistribution And Democracy eBook

Author : Michael Albertus
Publisher :
Page : 42 pages
File Size : 40,20 MB
Release : 2013
Category :
ISBN :

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A growing literature concludes that modern democracies have not adopted policies that benefit the majority to the extent predicted by social conflict theory. The most prominent reason is that globalization ties the hands of policymakers, making it hard for them to redistribute. Yet while progressive taxation has declined, we find that redistributive spending is higher in many democracies than would be expected by today's high levels of capital mobility. We also find that democratic countries that tend to appeal to the majority of the population, which we proxy for with the adoption of their own constitution after transition, use redistributive macroeconomic policies as an endrun around fiscal constraints. While popular democracies adopt flexible exchange rates that give them monetary autonomy, exhibit higher levels of inflationary finance, and incur more foreign debt, elite-biased democracies are more restrained. The latter also have smaller governments and engage in lower levels of redistributive spending.

Author : Hwan Joo Seo
Publisher : Taylor & Francis
Page : 139 pages
File Size : 29,90 MB
Release : 2024-06-03
Category : Business & Economics
ISBN : 1040034764

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This book examines why democracy has failed to deliver effective solutions to income inequality problems over the last four decades, and if democracy can offer solutions to various increases in inequality in the future. It also addresses what elements are necessary for democracy to serve as an effective alternative for addressing inequality issues. Historical experiences over the past 40 years, including the global financial crisis, not only underscore the need for fresh perspectives on income inequality in economics but also question the ability of democracy to continue providing alternatives for addressing the escalating forms of inequality. Seo and Kang’s response to these inquiries diverge from conventional research in several significant ways. Primarily, what sets this research apart from existing studies is its intensified focus on income inequality as a product of the complex interplay between the political and economic domains, rather than a standalone examination of income inequality in isolation. Through a political economy perspective, this book argues that income inequality and income redistribution are shaped by the institutions, policies, and laws generated by the political system, with their formation and nature being determined by the power distribution among socio-political groups. A useful resource not only to researchers who study political phenomena in the field of economics, but also to scholars who study economic phenomena in the field of politics. Furthermore, it will be particularly intriguing for policy makers concerned with issues of inequality and income redistribution.

Author : Joo Seo Hwan
Publisher :
Page : 0 pages
File Size : 23,94 MB
Release : 2024
Category : Business & Economics
ISBN : 9781032695754

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"This book answers why democracy has failed to deliver effective solutions to income inequality problems over the last four decades, and if democracy can offer solutions to various increases in inequality in the future. It also addresses what elements are necessary for democracy to serve as an effective alternative for addressing inequality issues. Historical experiences over the past 40 years, including the global financial crisis, not only underscore the need for fresh perspectives on income inequality in economics but also question the ability of democracy to continue providing alternatives for addressing the escalating forms of inequality. Seo and Kang's response to these inquiries diverge from conventional research in several significant ways. Primarily, what sets this research apart from existing studies is its intensified focus on income inequality as a product of the complex interplay between the political and economic domains, rather than a standalone examination of income inequality in isolation. Through a political economy perspective, this book argues that income inequality and income redistribution are shaped by the institutions, policies, and laws generated by the political system, with their formation and nature being determined by the power distribution among socio-political groups. A useful resource not only to researchers who study political phenomena in the field of economics, but also to scholars who study economic phenomena in the field of politics. Furthermore, it will be particularly intriguing for policymakers concerned with issues of inequality and income redistribution"--

Author : Scott L Greer
Publisher : University of Michigan Press
Page : 339 pages
File Size : 30,71 MB
Release : 2019-05-24
Category : Political Science
ISBN : 0472131176

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Federalism and Social Policy focuses on the crucial question: Is a strong and egalitarian welfare state compatible with federalism? In this carefully curated collection, Scott L. Greer, Heather Elliott, and the contributors explore the relationship between decentralization and the welfare state to determine whether or not decentralization has negative consequences for welfare. The contributors examine a variety of federal countries, including Spain, Canada, and the United Kingdom, asking four key questions related to decentralization: (1) Are there regional welfare states (such as Scotland, Minnesota, etc.)? (2) How much variation is there in the structures of federal welfare states? (3) Is federalism bad for welfare? (4) Does austerity recentralize or decentralize welfare states? By focusing on money and policy instead of law and constitutional politics, the volume shows that federalism shapes regional governments and policies even when decentralization exists.

Author : Mansoor Dailami
Publisher : World Bank Publications
Page : 38 pages
File Size : 42,40 MB
Release : 2000
Category : Banks and Banking Reform
ISBN :

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What explains the spread of both democracy and financial openness at this time in history, given the constraining impact of financial market integration on national policy autonomy? International policy coordination is part of the answer, but not all. Also important is the presence of cost-effective redistributive schemes that provide insurance against the risk of financial instability.

Author : Robert J. Franzese, Jr
Publisher : Cambridge University Press
Page : 333 pages
File Size : 35,9 MB
Release : 2002-02-11
Category : Political Science
ISBN : 131658285X

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This book synthesizes and extends modern political-economic theory to explain the postwar evolution of macroeconomic policy in developed democracies. Chapters 2-4 study transfers, debt, and monetary/wage policy-making and outcomes, stressing that participation enhances transfer-policy responsiveness to inequality and vice versa, that policy-making veto actors retard fiscal-policy adjustments, inducing greater long-run debt-responses to all other political-economic stimuli, and that monetary policy's nominal and real effects depend, respectively, on the broader political-economic interest-structure and on wage-price bargainers' sectorial composition and coordination. Broadly, the book argues that these developments have exacerbated the distributional conflicts inherent in the policies to which postwar governments had committed while undermining their more-universally desired efficiency-fostering roles. Battles that once raged primarily over policies conducted within postwar-commitment frameworks now rage over the putative 'reforms' of the frameworks that will set the institutional rules within which democratic struggle over macroeconomic policy and free-market competition will continue.

Author : Mr.Jonathan David Ostry
Publisher : International Monetary Fund
Page : 30 pages
File Size : 19,6 MB
Release : 2014-02-17
Category : Business & Economics
ISBN : 1484397657

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The Fund has recognized in recent years that one cannot separate issues of economic growth and stability on one hand and equality on the other. Indeed, there is a strong case for considering inequality and an inability to sustain economic growth as two sides of the same coin. Central to the Fund’s mandate is providing advice that will enable members’ economies to grow on a sustained basis. But the Fund has rightly been cautious about recommending the use of redistributive policies given that such policies may themselves undercut economic efficiency and the prospects for sustained growth (the so-called “leaky bucket” hypothesis written about by the famous Yale economist Arthur Okun in the 1970s). This SDN follows up the previous SDN on inequality and growth by focusing on the role of redistribution. It finds that, from the perspective of the best available macroeconomic data, there is not a lot of evidence that redistribution has in fact undercut economic growth (except in extreme cases). One should be careful not to assume therefore—as Okun and others have—that there is a big tradeoff between redistribution and growth. The best available macroeconomic data do not support such a conclusion.

Author : Macroeconomic Research Group
Publisher : Oxford University Press, USA
Page : 352 pages
File Size : 35,2 MB
Release : 1993
Category : Democracy
ISBN :

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MERG has become convinced that a sea change in economic policy is essential to generate growth in the next few years. It can demonstrate that its proposed policy framework is both coherent and affordable. The MERG proposals offer a radically different vision of the future of South Africa. They have been designed to address the current imbalances, through direct intervention, in a way which would benefit all sections of the South African population within a short period of time. MERG took the objectives of the democratic movement as its starting point. The aim of the MERG framework is, therefore, to secure a rapid improvement in the quality of the daily lives of South Africa's poorest, most oppressed and disadvantaged people. The strategy stresses programmes to: initiate job creation and training programmes for the unemployed; improve the status of the poorest women in the rural areas; improve the availability and quality of education, health, housing and electrification; raise the level of wages of low-income workers, and; dramatically improve the skills of employed workers.

Author : Rosa Mulé
Publisher : Cambridge University Press
Page : 276 pages
File Size : 14,44 MB
Release : 2001-01-08
Category : Business & Economics
ISBN : 9780521793582

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An analysis of the impact of party politics on income redistribution policy in liberal democracies.

Author : Noam Lupu
Publisher : Cambridge University Press
Page : 387 pages
File Size : 40,92 MB
Release : 2023-12-21
Category : Political Science
ISBN : 1009428659

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While economic inequality has risen in every affluent democracy in North America and Western Europe, the last three decades have also been characterized by falling or stagnating levels of state-led economic redistribution. Why have democratically accountable governments not done more to distribute top-income shares to citizens with low- and middle-income? Unequal Democracies offers answers to this question, bringing together contributions that focus on voters and their demands for redistribution with contributions on elites and unequal representation that is biased against less-affluent citizens. While large and growing bodies of research have developed around each of these perspectives, this volume brings them into rare dialogue. Chapters also incorporate analyses that center exclusively on the United States and those that examine a broader set of advanced democracies to explore the uniqueness of the American case and its contribution to comparative perspectives. This book is also available as Open Access on Cambridge Core.