MACROINEQUALITY

"The Macroeconomics of Inequality, Development and the Welfare State"

Coordinatore	UNIVERSITETET I OSLO    more Spiacenti, non ci sono informazioni su questo coordinatore. Contattare Fabio per maggiori infomrazioni, grazie.
Nazionalità Coordinatore	Norway [NO]
Totale costo	2˙154˙647 €
EC contributo	2˙154˙647 €
Programma	FP7-IDEAS-ERC Specific programme: "Ideas" implementing the Seventh Framework Programme of the European Community for research, technological development and demonstration activities (2007 to 2013)
Code Call	ERC-2012-ADG_20120411
Funding Scheme	ERC-AG
Anno di inizio	2013
Periodo (anno-mese-giorno)	2013-06-01   -   2018-05-31

 Partecipanti

#	participant	country	role	EC contrib. [€]
1	UNIVERSITETET I OSLO  Organization address address: Problemveien 5-7 city: OSLO postcode: 313 contact info Titolo: Ms. Nome: Gyro Anna Cognome: Holen Email: send email Telefono: +47 22854245 Fax: +47 22855035	NO (OSLO)	hostInstitution	2˙154˙647.00
2	UNIVERSITETET I OSLO  Organization address address: Problemveien 5-7 city: OSLO postcode: 313 contact info Titolo: Prof. Nome: Kjetil Cognome: Storesletten Email: send email Telefono: +47 41295405 Fax: +47 22855035	NO (OSLO)	hostInstitution	2˙154˙647.00

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 Obiettivo del progetto (Objective)

'This project will develop macro models with heterogeneity across people and firms to understand the consequences of two profound macro trends: the economic transformation of China and the rising cross-sectional inequality in many countries. The ultimate aim is to help these models become everyday tools in macro, development/labor economics, and actual policy making. Inequality and human capital accumulation is an important theme. I will develop tractable models of the equity-efficiency tradeoffs under risk and imperfect financial markets. Due to novel general equilibrium effects, progressive taxation is particularly distortive for education choices. This calls for complementary policies. I also explore the nexus between inequality and aggregate risk, the interaction between inequality and the dynamics of political conflict, and the puzzling success of the Scandinavian welfare model. The project will provide sharper tools for policy analysis. A key aim is to integrate models of mistakes into structural macro models. While such models generally assume rationality, welfare programs are often geared to precisely address negative consequences of human errors. Assuming information is costly, I will quantify bounds on rationality to match observed behavior. The framework has a wide range of potential uses. I will use it to reevaluate government programs. A large part of the project focuses on China. The rapid economic transformation of emerging economies has raised many new questions for economic theory and policy. I will marshal the use of models with heterogeneity to address these issues. A key goal is to develop a quantitative structural model that can become the benchmark model of fiscal policy analysis and long-run forecasts in China. As an application, I will study cost and gains of various redistribution programs. The project also aims at examining the sources of growth and inflation in China and, ultimately, understanding the culprit of the Chinese growth miracle.'