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| Type | Working Paper |
| Scope | Discipline-based scholarship |
| Title | Inequality and Growth: The Neglected Time Dimension |
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| Institution | University of Zurich |
| Series Name | Working paper series / Institute for Empirical Research in Economics |
| Number | No. 507 |
| ISSN | 1424-0459 |
| Date | 2010 |
| Abstract Text | The empirical literature on the relationship between inequality and growth offers a contradictory assessment: Estimators based on time-series (differences-based) variation indicate a strong positive link while estimators (also) exploiting the cross-sectional (levelbased) variation suggest a negative relationship. Using an expanded dataset, the presentnpaper confirms this conflicting pattern — and reconciles it on the basis of a simple model.nWe argue that the differences-based methods are prone to reflect the mostly positive shortor medium-run implications of inequality while the level-based estimators also incorporate more negative long-term consequences. Thus, the latter estimates come close to reflecting the adverse overall impact of inequality in the long run. |
| Official URL | http://www.econ.uzh.ch/wp.html |
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