"Writings on the macroeconomic impact of capital account liberalization find few, if any, robust effects of liberalization on real variables. In contrast to the

This paper analyzes the extent of income inequality from a global perspective, its drivers, and what to do about it. The drivers of inequality vary widely among

The paper studies how high leverage and crises can arise as a result of changes in the income distribution. Empirically, the periods 1920-1929 and 1983-2008 bot

Over the past two decades, the percentage of the world’s population living on less than a dollar a day has been cut in half. How much of that improvement is b

Discusses and assesses the impact of financial liberalization and the ongoing rise of financial rents on income distribution in the post-1980 Turkish economy.