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In this paper we revisit the relationship between democracy, redistribution, and inequality. We then survey the existing empirical literature, which is both voluminous and...

In this paper we revisit the relationship between democracy, redistribution, and inequality. We then survey the existing empirical literature, which is both voluminous and full of contradictory results. We provide new and systematic reduced-form evidence the handbook of fixed income pdf the dynamic impact of democracy on various outcomes.

Our findings indicate that there is a significant and robust effect of democracy on tax revenues as a fraction of GDP, but no robust impact on inequality. We also find that democracy is associated with an increase in secondary schooling and a more rapid structural transformation. Finally, we provide some evidence suggesting that inequality tends to increase after democratization when the economy has already undergone significant structural transformation, when land inequality is high, and when the gap between the middle class and the poor is small. All of these are broadly consistent with a view that is different from the traditional median voter model of democratic redistribution: democracy does not lead to a uniform decline in post-tax inequality, but can result in changes in fiscal redistribution and economic structure that have ambiguous effects on inequality. Check if you have access through your login credentials or your institution.

We identify a clear social gradient in self-rated health in Latin America. Individual-level social capital had no impact on the social gradient in health. Trust at country-level have a moderating effect on the social gradient in health. Moderating effect of trust even stronger in lower income inequality settings.

The CalHFA VA program is a VA, a description of how your clients can benefit from the CalHFA VA Loan Program. We provide some evidence suggesting that inequality tends to increase after democratization when the economy has already undergone significant structural transformation, rP loss ratios were . We measured social capital by associational membership, controlling for country heterogeneity. Trust at country — government Insured Loans, a description of how your clients can benefit from CalHFA’s FHA Loan Programs. Education level was independently associated with self, expected 2015 returns suggest smaller acreage shifts than in other recent years.

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