Journal for a Progressive Economy, October 2016 Over the last decades, economic inequalities have dramatically increased across both advanced and developing economies (Atkinson, 2015; Piketty, 2014). This evidence raises interest (again) in the dynamics of income distribution and its drivers (Franzini and Pianta, 2016). Looking back in time, classical economists such as Marx, Ricardo, or […]
Author Archive | Francesco Bogliacino, Dario Guarascio and Valeria Cirillo
Rediscovering The Importance Of Functional Distribution And Its Drivers
Nowadays, both economists and policy makers have rediscovered the importance of income distribution, while in the past this research remained the domain of a handful of scholars, usually in the heterodox tradition. In a number of recent papers, even the IMF has warned about the risks stemming from increasing inequalities but the recommendations inferred from […]
The dynamics of profits and wages: technology, offshoring and demand
This article explores the impact of innovation, offshoring and demand on profits and wage dynamics. The growing relevance of functional distribution in terms of explaining personal distribution underscores the importance of our results for understanding recent increases in inequality. The empirical analysis performed herein involves a panel of 38 manufacturing and service sectors over four […]
Modelling the virtuous circle of innovation. A test on Italian firms
The ‘virtuous circle’ between innovative inputs, outputs and economic performance is investigated in this article with a three-equation model highlighting feedback loops and simultaneous relations. An empirical test is carried out considering innovative expenditure, innovative turnover and economic results in a sample of Italian manufacturing firms, comparing occasional and serial innovators. We use data for […]