Rising Income Inequalities – the Causes of and Consequences for Long-term Growth
DOI:
https://doi.org/10.15678/ZNUEK.2019.0981.0302Słowa kluczowe:
nierówności dochodu, rynek pracy, ufinansowienie, globalizacja, wzrost gospodarczyAbstrakt
Tytuł artykułu: Rosnące nierówności dochodu – przyczyny i wpływ na długookresowy wzrost
Cel: Celem artykułu jest określenie kanałów, poprzez które nierówności dochodu wpływają na krótkookresową sytuację gospodarczą oraz wzrost w długim okresie.
Metodyka badań: Artykuł jest wstępem do dalszych badań. Stanowi przegląd istniejącej literatury przedmiotu, co pozwala poddać weryfikacji hipotezę, że nierówności niekorzystnie oddziałują na stopy wzrostu oraz stabilność gospodarki.
Wyniki badań: Przedstawiono mechanizmy, poprzez które nierówności dochodu oddziałują na popyt globalny, produkcję i akumulację kapitału (rzeczowego i ludzkiego), kładąc nacisk na zagrożenia z tym związane, takie jak wzrost zadłużenia prywatnego i publicznego oraz deficyty na rachunkach obrotów bieżących.
Wnioski: Zaproponowano alternatywną strategię wzrostu opartego na płacach (wage-led growth strategy) – polega ona na wzmocnieniu pozycji pracowników w gospodarce, dzięki czemu płace rosną co najmniej w tempie odpowiadającym przyrostom wydajności.
Wkład w rozwój dyscypliny: Koncepcja wzrostu opartego na płacach rzadko dyskutowana jest w literaturze głównego nurtu, zwłaszcza polskojęzycznej.
Pobrania
Bibliografia
Acemoglu D., Autor D. H. (2010), Skills, Tasks and Technologies: Implications for Employment and Earnings, NBER Working Papers no 16082, National Bureau of Economic Research. DOI: https://doi.org/10.3386/w16082
Acemoglu D., Robinson J. (2012), Why Nations Fail, Crown Publishers, New York.
Agell J. (1999), On the Benefits from Rigid Labour Makets: Norms, Market Failures, and Social Insurance, “The Economic Journal”, vol. 109, no 453, https://doi.org/10.1111/1468-0297.00406. DOI: https://doi.org/10.1111/1468-0297.00406
Auer P. (2007), Security in Labour Markets: Combining Flexibility with Security for Decent Work, “Economic and Labour Market Papers”, no 2007/12, ILO, Geneva.
Autor D. H., Dorn D., Hanson G. H. (2013), The China Syndrome: Local Labor Market Effects of Import Competition in the United States, “American Economic Review”, vol. 103, no 6, https://doi.org/10.1257/aer.103.6.2121. DOI: https://doi.org/10.1257/aer.103.6.2121
Barba A., Pivetti M. (2009), Rising Household Debt: Its Causes and Macroeconomic Implications – A Long-period Analysis, “Cambridge Journal of Economics”, vol. 33, no 1, https://doi.org/10.1093/cje/ben030. DOI: https://doi.org/10.1093/cje/ben030
Barro R. J. (2000), Inequality and Growth in a Panel of Countries, “Journal of Economic Growth”, vol. 5, no 1.
Berg A. G., Ostry J. D. (2011), Inequality and Unsustainable Growth: Two Sides of the Same Coin?, IMF Staff Discussion Note, SDN/11/08, April. DOI: https://doi.org/10.5089/9781463926564.006
Bernstein J. (2013), The Impact of Inequality on Growth, Center for American Progress, https://www.americanprogress.org/wp-content/uploads/2013/12/BerensteinInequality.pdf (access: 6.11.2016).
Bhaduri A., Marglin S. A. (1990), Unemployment and the Real Wage: The Economic Basis for Contesting Political Ideologies, “Cambridge Journal of Economics”, vol. 14, no 4, https://doi.org/10.1093/oxfordjournals.cje.a035141. DOI: https://doi.org/10.1093/oxfordjournals.cje.a035141
Boeri T., Helppie B., Macis M. (2008), Labor Regulations in Developing Countries: A Review of Evidence and Directions for Future Research, SP Discussion Paper, no 0833, October.
Boix C. (2011), Redistribution Policies in a Globalized World (in:) Making Globalization Socially Sustainable, eds M. Bacchetta, M. Jansen, International Labour Organization and World Trade Organization, Geneva. DOI: https://doi.org/10.30875/08905b06-en
Bourguignon F. (1981), Pareto Superiority of Unegalitarian Equilibria in Stiglitz’ Model of Wealth Distribution with Convex Saving Function, “Econometrica”, vol. 49, no 6, https://doi.org/10.2307/1911412. DOI: https://doi.org/10.2307/1911412
Bowles S., Park Y. (2005), Emulation, Inequality and Work Hours: Was Thorsten Veblen Right?, “The Economic Journal”, vol. 115, no 507, https://doi.org/10.1111/j.1468-0297.2005.01042.x. DOI: https://doi.org/10.1111/j.1468-0297.2005.01042.x
Carvalho L., Rezai A. (2015), Personal Income Inequality and Aggregate Demand, “Cambridge Journal of Economics”, vol. 40, no 2, https://doi.org/10.1093/cje/beu085. DOI: https://doi.org/10.1093/cje/beu085
Cervellati M., Sunde U., Zimmermann K. F. (2016), Demographic Dynamics and Long-run Development: Insights for the Secular Stagnation Debate, ZEF Discussion Papers on Development Policy, no 226, September. DOI: https://doi.org/10.1007/s00148-016-0626-8
Cingano F. (2014), Trends in Income Inequality and Its Impact on Economic Growth, OECD Social, Employment and Migration Working Paper no 163, OECD Publishing.
Ehrhart C. (2009), The Effects of Inequality on Growth: A Survey of the Theoretical and Empirical Literature, ECINEQ WP 2009-107, February.
Furceri D., Loungani P. (2013), Who Let the GINI Out?, “Finance & Development”, vol. 50, no 4.
Galor O., Zeira J. (1993), Income Distribution and Macroeconomics, “Review of Economic Studies”, vol. 60, no 1, https://doi.org/10.2307/2297811. DOI: https://doi.org/10.2307/2297811
Goldberg P. K., Pavcnik N. (2007), Distributional Effects of Globalization in Developing Countries, “Journal of Economic Literature”, vol. 45, no 1, https://doi.org/10.1257/jel.45.1.39. DOI: https://doi.org/10.1257/jel.45.1.39
Harrison, A., McLaren J., McMillan M. S. (2010), Recent Findings on Trade and Inequality, NBER Working Papers, no 16425, National Bureau of Economic Research. DOI: https://doi.org/10.3386/w16425
Hein E. (2011), Finance-dominated Capitalism, Re-distribution, Household Debt and Financial Fragility in a Kaleckian Distribution and Growth Model, MPRA Paper, no 34115, October.
Hein E., Mundt M. (2012), Financialisation and the Requirements and Potentials for Wage-led Recovery – a Review Focusing on the G-20, Conditions of Work and Employment Series, no 37, ILO, Geneva.
Hein E., Treeck T. van (2010), ‘Financialisation’ in Post-Keynesian Models of Distribution and Growth – a Systematic Review (in:) Handbook of Alternative Theories of Economic Growth, ed. M. Setterfield, Edward Elgar, Cheltenham. DOI: https://doi.org/10.4337/9781849805582.00022
Jayadev A. (2007), Capital Account Openness and the Labor Share of Income, “Cambridge Journal of Economics”, vol. 31, no 3, https://doi.org/10.1093/cje/bel037. DOI: https://doi.org/10.1093/cje/bel037
Jobs and Growth: Analytical and Operational Considerations for the Fund (2013), IMF, https://www.imf.org/external/np/pp/eng/2013/031413.pdf (access: 7.05.2016).
Kennickell A. (2009), Ponds and Streams: Wealth and Income in the U.S., 1989 to 2007, Finance and Economic Discussion Series, Federal Reserve Board, 2009-13. DOI: https://doi.org/10.17016/feds.2009.13
Koske I., Fournier J., Wanner I. (2012), Less Income Inequality and More Growth – Are They Compatible? Part 2. The Distribution of Labour Income, OECD Economics Department Working Paper, no 925, OECD Publishing, Paris.
Krueger A. B. (2012), The Rise and Consequences of Inequality in the United States, https://www.whitehouse.gov/sites/default/files/krueger_cap_speech_final_remarks.pdf (access: 25.10.2016).
Kumhof M., Rancière R. (2010), Inequality, Leverage and Crises, IMF Working Paper, no WP/10/268, November. DOI: https://doi.org/10.5089/9781455210756.001
Lavoie M., Stockhammer E. (2012), Wage-led Growth: Concept, Theories and Policies, Conditions of Work and Employment Series, no 41, ILO, Geneva. DOI: https://doi.org/10.1057/9781137357939
Lazear E. P., Rosen S. (1981), Rank-order Tournaments as Optimum Labor Contracts, “Journal of Political Economy”, vol. 89, no 5, http://doi.org/10.1086/261010. DOI: https://doi.org/10.1086/261010
Onaran O., Stockhammer E., Grafl L. (2011), Financialization, Income Distribution, and Aggregate Demand in the US, “Cambridge Journal of Economics”, vol. 35, no 4, https://doi.org/10.1093/cje/beq045. DOI: https://doi.org/10.1093/cje/beq045
Palley T. (2011), The Economics of Wage-led Recovery: Analysis and Policy Recommendations, “International Journal of Labor Research”, vol. 3, no 2.
Palley T. (2015), The Middle Class in Macroeconomics and Growth Theory: A Three-class Neo-Kaleckian-Goodwin Model, “Cambridge Journal of Economics”, vol. 39, no 1, https://doi.org/10.1093/cje/beu019. DOI: https://doi.org/10.1093/cje/beu019
Pichelmann K. (2015), When ‘Secular Stagnation’ Meets Piketty’s Capitalism in the 21st Century. Growth and Inequality Trends in Europe Reconsidered, European Commission Economic Papers, no 551, July. DOI: https://doi.org/10.1007/978-3-319-26952-8_3
Rajan R. (2010), Fault Lines: How Hidden Fractures Still Threaten the World Economy, Princeton University Press, Princeton. DOI: https://doi.org/10.1515/9781400839803
Rodrik D. (1999), Where Did All the Growth Go? External Shocks, Social Conflict, and Growth Collapses, “Journal of Economic Growth”, vol. 4, no 4. DOI: https://doi.org/10.3386/w6350
Stockhammer E. (2012), Rising Inequality as a Root Cause of the Present Crisis, Working Paper, no 282, Political Economy Research Institute, University of Massachusetts.
Stockhammer E. (2013), Why Have Wage Shares Fallen? A Panel Analysis of the Determinants of Functional Income Distribution, Conditions of Work and Employment Series, no 35, ILO, Geneva. DOI: https://doi.org/10.1057/9781137357939_3
Stockhammer E. (2015), Wage-led Growth, https://www.socialeurope.eu/wp-content/uploads/2015/04/RE5-Stockhammer.pdf (access: 4.07.2016).
Treeck T. van, Sturn S. (2012), Income Inequality as a Cause of the Great Recession? A Survey of Current Debates, Conditions of Work and Employment Series, no 39, ILO, Geneva.
Wolff E. (2010), Recent Trends in Household Wealth in the United States: Rising Debt and the Middle-class Squeeze – An Update to 2007, Levy Economics Institute Working Paper, no 589. DOI: https://doi.org/10.2139/ssrn.1585409
World of Work Report 2008. Income Inequalities in the Age of Financial Globalization (2008), ILO, Geneva. DOI: https://doi.org/10.1002/wow3.11
Pobrania
Opublikowane
Numer
Dział
Licencja
Prawa autorskie (c) 2019 Zeszyty Naukowe Uniwersytetu Ekonomicznego w Krakowie
Utwór dostępny jest na licencji Creative Commons Uznanie autorstwa 4.0 Międzynarodowe.