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31. Volume 69 Issue 2

Author:
Muhittin Kaplan
Publication Date:
06-2019
Content Type:
Journal Article
Journal:
Istanbul Journal of Economics
Institution:
Istanbul University Faculty of Economics
Abstract:
Istanbul Journal of Economics-İstanbul İktisat Dergisi is an open access, peer-reviewed, scholarly journal published two times a year in June and December. It has been an official publication of Istanbul University Faculty of Economics since 1939. The manuscripts submitted for publication in the journal must be scientific and original work in Turkish or English. Being one of the earliest peer-reviewed academic journals in Turkey in the area of economics, Istanbul Journal of Economics-İstanbul İktisat Dergisi aims to provide a forum for exploring issues in basicly economics and publish both disciplinary and multidisciplinary articles. Economics is the main scope of the journal. However, multidisciplinary and comparative approaches are encouraged as well and articles from various social science areas such as sociology of economics, history, social policy, international relations, financial studies are welcomed in this regard. The target group of the journal consists of academicians, researchers, professionals, students, related professional and academic bodies and institutions.
Topic:
Economics, Monetary Policy, Political Science, Economic Inequality, and Cryptocurrencies
Political Geography:
Turkey and Global Focus

32. The Impact of Income Inequality on Household Indebtedness in Euro Area Countries

Author:
Stefan Jestl
Publication Date:
12-2019
Content Type:
Working Paper
Institution:
The Vienna Institute for International Economic Studies (WIIW)
Abstract:
This paper examines the impact of income inequality on consumption-related household indebtedness at the household level. Using the first wave of the Eurosystem Household Finance and Consumption Survey data, the analysis sheds light on heterogeneous effects across euro area countries. The results suggest a positive impact of income inequality on consumption-related household indebtedness in a small sample of countries. We further employ a multilevel regression model to also take country’s macroeconomic characteristics into account, such as credit market and welfare state design. In this setting, we find an overall positive impact of income inequality on consumption-related household indebtedness.
Topic:
Economics, Inequality, Economic Inequality, and Macroeconomics
Political Geography:
Europe

33. Consumption Inequality in Botswana: The Decomposition of the Gini Coefficient of Consumer Expenditures

Author:
Lillian Mookodi
Publication Date:
03-2019
Content Type:
Working Paper
Institution:
Botswana Institute for Development Policy Analysis
Abstract:
This paper applies the Lerman and Yitzhaki (1985) inequality decomposition approach on food and non-food expenditures on the 2009/10 Botswana Core Welfare Indicator Survey; and the 2015/16 Multi Topic Indicator Survey datasets with an objective to see how overall inequality translates into inequality within each expenditure component. To test for a robustness of our results, we apply a simple bootstrap procedure to obtain the means, standard errors and confidence intervals for the component Gini coefficients estimates. The decomposition analysis results show that overall inequality based on the Gini coefficient of consumption expenditure within the groups has increased between the two periods from 0.498 to 0.533. These results suggest that this rise in overall expenditure inequality is due to the increased burden in the household budget of non-food spending, which tends to be more unequal than food spending. The consumption expenditure is very unequal on non-food items like recreation and hotels; health; education and transport. On one hand, lower Gini coefficients are observed for food; and clothing and footwear; these commodities are considered as necessities among others. This paper finally offers some possible policy measures to curb this consumption expenditure inequality.
Topic:
Economics, Developing World, Inequality, and Economic Inequality
Political Geography:
Africa and Botswana

34. The Battle of Ideas in the Question for Wealth and Prosperity in Brazil: Policy Proposals of a Right-Wing Government

Author:
Monica Arruda De Almeida
Publication Date:
05-2019
Content Type:
Special Report
Institution:
Georgetown Journal of International Affairs
Abstract:
Brazil’s income inequality is among the world’s worst. The country’s unemployment rate is currently 13 percent, compared to 4.6 percent in 2012, and the number of Brazilians in poverty or extreme poverty is now close to 30 percent, a far cry from 2014 when that number was less than 10 percent of the population. Brazil has one of the highest tax rates in Latin America—with tax revenue equal to 33 percent of GDP, against the regional average of 20 percent—but it is also notorious for its poor performance with respect to the ease of paying taxes and opening a business: the country ranks 184 and 140, respectively, out of 190 countries in the World Bank’s 2019 Doing Business Report. It is surprising, therefore, that Jair Bolsonaro, a conservative politician from the Social Liberal Party (PSL), was elected to the country’s highest office without meaningfully addressing his administration’s plans to solve the nation’s social injustices and other economic issues. Instead, Bolsonaro campaigned mostly on strengthening public security and fighting corruption, the two areas on which the former army captain built his reputation during his almost thirty years as a congressman. During the campaign, Bolsonaro recruited Paulo Guedes, a Chicago School-trained economist to be his Minister of the Economy. Guedes was tasked with building a “dream team” of experts that would design a plan to further liberalize the economy and turn Brazil into a much friendlier place to conduct business.
Topic:
Corruption, Government, Poverty, Economy, Social Policy, and Economic Inequality
Political Geography:
Brazil and South America

35. Women’s Financial Inclusion in a Digital World: How Mobile Phones Can Reduce Gender Gaps

Author:
Raiyan Kabir and Jeni Klugman
Publication Date:
12-2019
Content Type:
Special Report
Institution:
Georgetown Institute for Women, Peace and Security (GIWPS)
Abstract:
Globally, only about two-thirds of women own a financial account, compared to about three in four men. In conflict-affected nations, women are 27 percent less likely than men to have a bank account. We present new estimates that greater mobile phone usage among women is associated with much lower gender gaps in financial inclusion: a percentage point lower gender gap in mobile access is associated with a 0.94 lower percentage point financial inclusion gap. This association is much larger than the effects found for reducing gender gaps in employment. Our findings highlight the promise of mobile phones to financially include women in fragile and conflict-affected countries. We also address efforts to close mobile phone gaps, design financial services intentionally for women, eliminate legal discrimination, and establish regulatory and policy frameworks that seek to ensure inclusion. Ultimately, concerted efforts by governments and private sector companies are required to achieve digital financial inclusion and close the gender gap.
Topic:
Women, Conflict, Economic Inequality, Phone, Inclusion, Digital Finance, and Gender
Political Geography:
Global Focus

36. Youth in Middle East and North Africa

Author:
Daniella Raz
Publication Date:
08-2019
Content Type:
Special Report
Institution:
Arab Barometer
Abstract:
Individuals between the ages of 15 and 29 account for roughly 30 percent of the population of the Middle East and North Africa (MENA).1 The beliefs, attitudes, and preferences of this large and growing segment of the population has the potential to shape and drive the region’s future. Yet, widespread youth discontent about their economic prospects poses a significant challenge. Youth unemployment rates across the region remain high and there is broad frustration with government efforts to create employment opportunities.2 Though satisfaction with the state education system varies greatly across countries, youth are less satisfied than are older generations. Youth also question if they have the ability to voice their frustrations to the government. In nearly all countries, less than half say the right to freedom of expression is guaranteed while half or less say they have the right to demonstrate peacefully in all countries. This combination creates conditions where youth across the MENA region, far more than older age cohorts, are considering emigrating from their country, primarily to Europe, North America, or GCC countries. Unsurprisingly, many cite economic reasons as the main impetus for leaving. However, youth differ from their older counterparts not only in terms of greater frustration with the existing system. Relative to older generations youth also tend to be less religious, less interested in politics, and more likely to be engaged in social media. Generational differences are particularly stark in Morocco where youth attitudes diverge substantially and dissatisfaction with the overall state of affairs is quite salient. Meanwhile, on gender issues, most youth tend to be supportive of equal rights for women. Majorities say women have the right to be the head of government and to receive an education. Yet, the same does not hold true for equal inheritance rights with minorities saying women should receive the same as men in most countries. Additionally, this generation cites low levels of support for women playing equal roles in society, with most saying that men make better political leaders and stating that husbands should have the final say in family matters. Youth in MENA appear to be particularly inclined toward China relative to other global powers. Majorities favor closer economic relations with China in most countries surveyed, while less than half say the same about relations with the U.S. in most countries.
Topic:
Public Opinion, Employment, Youth, Economic Inequality, and Generation
Political Geography:
Middle East and North Africa

37. Economic Dimensions of Personalized and Precision Medicine in Asia: Evidence from Breast Cancer Treatment in Taiwan

Author:
Jui-fen Rachel Lu and Karen Eggleston
Publication Date:
04-2018
Content Type:
Working Paper
Institution:
Walter H. Shorenstein Asia-Pacific Research Center
Abstract:
High costs of precision medicine raise concerns about exacerbating income-related disparities in healthcare utilization and health outcomes. One approach to expanding coverage in Asia has been to cover the precision therapy but require the pharmaceutical firm to cover the costs of the companion diagnostic test. Taiwan’s National Health Insurance (NHI) adopted this approach for lung cancer, colorectal cancer and leukemia, but not for the first target therapy covered by NHI, trastuzumab for the treatment of HER2-positive breast cancer. Analyzing a unique dataset linking medical claims, cancer registry data and proxies for income between 2004 and 2015, we find that lower-income patients are more likely to be diagnosed with later stages of breast cancer, and this pattern renders NHI coverage of anti-HER2 therapy pro-poor even before full coverage of the diagnostic tests. Moreover, the expansion of NHI coverage—including the FISH diagnostic test and trastuzumab for early-stage breast cancer—strengthened the pro-poor distribution of genetic testing and target treatment, albeit only marginally. The extent of pharmaceutical company coverage of testing and its impact on patient access are topics of our ongoing research, contrasting breast cancer with colorectal cancer.
Topic:
Health, Health Care Policy, Economic Inequality, and Medicine
Political Geography:
Taiwan and Asia

38. Inequality in the Twenty-First Century: A Review on Rockstars of the Realm

Author:
Martyna Berenika Linartas
Publication Date:
01-2018
Content Type:
Working Paper
Institution:
Postgraduate Program on Sustainable Development and Social Inequalities in the Andean Region (trAndeS)
Abstract:
Not only has been economic inequality on the rise, but also the research agenda on inequality has moved decisively from the fringes to the center of policy and academic interest. This new concern and concentration in respect to this topic, data records, and methodological approaches have given rise to a vast amount of literature. It is for this reason that I review the most important recent works engaging with the origins of economic inequality – a debate which remains highly controversial. The usual categorization to explain the different storytelling – “to be or not to be neoliberal” – seems inappropriate. In this review on “the rockstars of the realm” (Thomas Piketty, Anthony Atkinson, Branko Milanovic and Walter Scheidel), I argue that the question and reason behind different approaches is instead: politics or the economy, which is the master that defines the space for action? The gradually established allegory of “the mirrored hourglass of inequality” illustrates the salience of this cleavage.
Topic:
International Political Economy, Political Economy, Capitalism, Inequality, Neoliberalism, and Economic Inequality
Political Geography:
Global Focus

39. Global Monetary Policy Divergence and the Reemergence of Global Imbalances

Author:
Daniel Gros
Publication Date:
06-2018
Content Type:
Working Paper
Institution:
Council on Foreign Relations
Abstract:
Developed economies are paying remarkably little attention to coordinating their monetary policies. This is an unavoidable consequence of the independence of central banks, which faithfully follow their purely domestic mandates except in times of crisis. As a result, global monetary policies have reached unprecedented levels of divergence. This divergence is set to widen—primarily due to differences in the relative strength of labor markets—while global current account imbalances return. Meanwhile, exchange rates have not reacted as economists expected; the dollar has weakened even as policy rates have increased. Economic tensions will likely become more disruptive the longer global imbalances go uncorrected. Likewise, the global economy will become more vulnerable to shocks. Yet by focusing on bilateral trade imbalances, the United States has mistakenly singled out China when the global imbalances between the United States and the eurozone is the more critical issue. The growing global imbalances are reflected more in the eurozone current account surplus and U.S. fiscal policy than in China’s shrinking surplus.
Topic:
International Trade and Finance, Monetary Policy, Exchange Rate Policy, and Economic Inequality
Political Geography:
Global Focus

40. Immigration Detention, Inc.

Author:
Denise Gilman and Luis A. Romero
Publication Date:
01-2018
Content Type:
Journal Article
Journal:
Journal on Migration and Human Security
Institution:
Center for Migration Studies of New York
Abstract:
This article addresses the influence of economic inequality on immigration detention. The US Department of Homeland Security (DHS) detains roughly 350,000 migrants each year and maintains more than 30,000 beds each day. This massive detention system raises issues of economic power and powerlessness. This article connects, for the first time, the influence of economic inequality on system-wide immigration detention policy as well as on individual detention decisions. The article begins with a description of the systemic impact that for-profit prisons have had on the federal immigration detention system, by promoting wide-scale detention. The resulting expansion of detention has led to ever-increasing profitability for the private for-profit prison sector, which allows the companies to exercise even more influence over policymakers to achieve yet higher levels of detention. The influence of wealthy private prison corporations also affects the very nature of immigration detention, leading to the use of jail-like facilities that are the product offered by the private prison industry. The article then describes the mechanisms by which economic inequality dictates the likelihood and length of detention in individual cases. The detention or release decisions made by DHS in individual cases must account for the need to keep numerous detention beds full to satisfy the contracts made with powerful private prison companies. DHS regularly sets bond amounts at levels that are not correlated to flight risk or danger, but rather to the length of time that the individual must be held in detention to keep the available space full. The article presents data, obtained from immigration authorities, regarding detention and bond patterns at a specific detention center that demonstrate this point. The research finds an inverse relationship between the number of newly arriving immigrants in the detention center and the bond amounts set by US Immigration and Customs Enforcement (ICE). During times when new arrivals were few, the amount required to be released from detention on bond was high; during times when there were many new arrivals, bond amounts were reduced or set at zero. The article also presents another way in which economic inequality affects the likelihood of detention at the individual level. Release and detention are largely controlled through the use of monetary bond requirements, which must be paid in full. The regular use of financial bonds as the exclusive mechanism for release means that those migrants who are most able to pay are most likely to be released, without regard to their likelihood of absconding or endangering the community. Wealth thus determines detention rather than an individualized determination of the necessity of depriving an individual of liberty. The article urges that the role of economic inequality in immigration detention raises troubling issues of democratic governance and the commodification of traditional governmental functions. The current system also leads to an unjustifiable redistribution of wealth from the poor to the rich. Looking at immigration detention through the lens of economic inequality offers new lines of theoretical inquiry into immigration detention. It connects the discussion of immigration detention to scholarly critiques of for-profit prisons and the privatization of state security functions more generally. It also brings a new perspective to prior work in the immigration and criminal justice contexts, questioning the fairness and utility of requiring payment of monetary bonds to obtain liberty from detention. The article concludes with recommendations for reform. These reforms would help to sideline the influence of economic inequality in immigration detention decision making.
Topic:
Immigration, Economic Inequality, and Mass Incarceration
Political Geography:
United States