RBA suggests that the Australian labour market in conjunction with the free market price mechanism facilitates income inequality within the Australian Economy. Income inequality within the Australian economy is measured by the gini coefficient. Australia’s Gini coefficient according to the ABS stands at 0.53 this indicates a moderately high level of income inequality within the economy. The benefits of income inequality may be that it encourages the labour force to increase education and skill levels
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associated with decrease in income in inequality in Mexico’s states. Feenstra and Hanson (1997) using Mexican data from 1975 to 1988‚ found that the rising wage inequality in Mexico is caused by higher foreign capital inflows. Choi (2006) using pooled Gini coefficient from 1993 to 2002 data for 119 countries from World Development Indicators 2004‚ World Bank‚ found that income inequality increases as FDI stocks as a percentage of GDP increase.
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to any other developed country of the same stature. There’s even more proof and evidence for the “So clear it shouldn’t have to be proven“ wealth inequality in America. Using a scale called the Gini coefficient to calculate wealth inequality the results were (not exactly) surprising‚ “[The Gini coefficient is] a measure of inequality in which 0 is perfect equality and 100 perfect inequality. It found that the U.S. had the greatest wealth inequality‚ with a score of 80.56” (Sherman). A nation with
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10.1 HSC Topic One – The Global Economy Investigate the global distribution of income and wealth-- When analysing the specific distribution of wealth and income at a global level‚ the frequency of the term ‘Inequality’ is quite often brought to attention. This is simply because (and as expanded upon below) the distribution of wealth is anything but equal. To present a proverb or maxim of sorts‚ “The rich continue getting richer‚ while the poor; poorer”‚ generally summing up the current state
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Introduction Recently‚ starting from May 1‚ 2013‚ Hong Kong had issued an increase of the Statutory Minimum Wage (SMW) from $28 to $30. Setting SMW at an appropriate level is vital to striking the balance between the objectives of forestalling excessively low wages and minimising the loss of low-paid jobs‚ while sustaining Hong Kong’s economic growth and competitiveness ("2012 report of the minimum wage commission‚" 2012). To fulfil this aim‚ the government have decided to increase the minimum
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Russia has emerged over the past 2 decades to become the 9th largest economy in the world today after radical economic reforms were implemented during the collapse of the Soviet Union in 1991. Under the Soviet Union‚ Russia had adopted a centrally planned economy that restricted free enterprise and international trade. | As Russia’s economy has grown dramatically over the past 2 decades‚ so too has the quality of life in both economic and health related aspects. GDP per capita has increased at the
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Economics Division ID-4113M Industrial Organisation Level 2 2010/11 ‘Seller concentration levels are of interest on both theoretical and public policy grounds’. Discuss. Market structure plays an important role in any industry. Examining the market structure is essential for firms to perform well and behave rationally. The key characteristics of market structure include the number and size of firms‚ the existence and height barriers to entry and exit‚ and the degree of product differentiation
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DOES FINANCIAL SECTOR DEVELOPMENT INCREASE INCOME INEQUALITY? SOME ECONOMETRIC EVIDENCE FROM BANGLADESH DOES FINANCIAL SECTOR DEVELOPMENT INCREASE INCOME INEQUALITY? SOME ECONOMETRIC EVIDENCE FROM BANGLADESH Abu N.M. Wahid Tennessee State University Muhammad Shahbaz COMSATS Institute of Information Technology‚ Lahore‚ Pakistan Mehmood Shah University of Management and Technology‚ Lahore‚ Pakistan Mohammad Salahuddin Southeast University Banani‚ Dhaka‚ Bangladesh ABSTRACT This paper
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ERD WORKING PAPER SERIES NO. 8 ECONOMICS AND RESEARCHDEPARTMENT Anil B. Deolalikar April 2002 Asian Development Bank ERD Working Paper No. 8 POVERTY‚ GROWTH‚ AND INEQUALITY IN THAILAND Anil B. Deolalikar April 2002 Anil Deolalikar is Professor of Economics and of International Studies at the University of Washington. This paper stems from RETA 5923: Pro-poor Growth and Institutional Constraints to Poverty Reduction in DMCs. The views expressed in the paper are those of the
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Although there are economists who may argue that global climate change has little impact on our economy today‚ there is strong evidence that ignorance on this topic will lead to a financial hole in the long run. In order to gain awareness on this stagnant approach‚ Frank Ackerman and Jonathan M. Harris analyze economic climate change in their articles. Some of these topics regarding economic climate change include the monetary impact that climate change will have on future generations‚ the impact
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