Inequality and the Political Economy of Eurosclerosis
AbstractBefore the early 1970s generous welfare states seemed to be consistent with high employment. Since then, there has been growing concern over disincentive effects of social insurance. This paper suggests that the problem may have arisen in part because European nations were in effect trying to fight market tendencies towards increased inequality. In the United States, with its much more limited welfare state, there has been a striking rise in inequality; a stylized model suggests that the response of redistributive states to these same market forces could have led to a considerable fall in employment.
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Bibliographic InfoPaper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 867.
Date of creation: Nov 1993
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- E0 - Macroeconomics and Monetary Economics - - General
- J3 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs
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- Patrick Artus, 2006. "Intégration commerciale avec des pays émergents ayant des ressources importantes en main-d'œuvre qualifiée. Quels effets pour les pays européens ?," Revue économique, Presses de Sciences-Po, vol. 57(4), pages 673-704.
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- David Card & Francis Kramarz & Thomas Lemieux, 1995.
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