Researchers in the social sciences have long been concerned with the impact of socioeconomic status (and its main components education and income) on long-run health outcomes and general well-being. Conditions at childhood especially are linked to increased human capital acquisition, better health outcomes in adulthood and higher adult incomes. Thus, elderly health outcomes should be influenced...

A windfall of natural resource revenue (or foreign aid) faces government with choices of how to manage public debt, investment, and the distribution of funds for consumption, particularly if the windfall is both anticipated and temporary. We show that the permanent income hypothesis prescription of an ever-lasting increase in consumption financed by borrowing ahead of the windfall and then accu...

This paper offers new evidence on the sources of cross-country income differences. It exploits the idea that observing immigrant workers from different countries in the same labor market provides an opportunity to estimate their relative human capital endowments without having to adjust for other sources of country-specific productivity differences. Based on such estimates, a neoclassical growt...

This paper presents a new way of measuring residual income, originally introduced by Magni (2000a,b,c, 2001a,b, 2003). Contrary to the standard residual income, the capital charge is equal to the capital lost by investors. The lost capital may be viewed as (a) the foregone capital, (b) the capital implicitly infused into the business, (c) the outstanding capital of a shadow project, (d) the cla...

We set up a neoclassical growth model extended by a corporate sector, an investment and finance decision of firms, and a set of taxes on capital income. We provide analytical dynamic scoring of taxes on corporate income, dividends, capital gains, other private capital income, and depreciation allowances and identify the intricate ways through which capital taxation affects tax revenue in genera...

We develop a tractable two-country overlapping generations model and show analytically that the cross-country differences in financial development help explain three recent empirical facts characterizing international capital flows: financial capital flows from relatively poor to relatively rich countries while FDI flows in the opposite direction; net capital flows are from poor to rich countri...

Since the 1980s, the United States has witnessed increasing wealth concentration in the hands of the ultra-rich. Measured at the state level, the top 10 percent of income earners amassed roughly 43% of total income, and economic growth only enhanced this inequality between the ultra-rich and the rest of citizens. This paper examines whether social capital plays a positive role in mitigating inc...

Existing studies of social capital formation in US metropolitan areas have found that social capital is lower when there is more income inequality and greater racial fragmentation. I add to this literature by examining the role of income inequality between racial groups (racial income inequality). I find that greater racial income inequality reduces social capital. Also, racial fragmentation is...

the main goal of this paper is to estimate the level and distribution of human capital (hc) in tehran province, iran. in doing this we have first reviewed theoretical and empirical literature of human capital. and then we used do gum method for estimation of level and distribution of households’ human capital in tehran. the do gum method is based on three old methods of estimation. we used late...