Search

Begin New Search Topic Economics Political Geography France Content Type Working Paper Publishing Institution United Nations University

1. Concentration among the Rich

Author:
Anthony B. Atkinson
Publication Date:
12-2006
Content Type:
Working Paper
Institution:
United Nations University
Abstract:
The aim of this paper is to examine the concentration of wealth among the group of top wealth holders, defined as those with wealth in excess of a high cut off. The paper begins by considering the definition of this cut off, analogous to the definition of a poverty line at the other end of the distribution. It then considers what can be learned about the proportion classified as 'rich' and about the concentration among the rich from four non-survey sources: journalists' lists, estate data, wealth tax data, and investment income tax data. It starts off from the world's billionaires in 2006, but is particularly concerned with changes over time within countries, taking France, Germany, the UK, and the USA, to illustrate the different sources.
Topic:
Civil Society, Demographics, and Economics
Political Geography:
United States, United Kingdom, France, and Germany

2. Monetary Policy in the Franc Zone: Estimating Interest Rate Rules for the BCEAO

Author:
Anja Shortland and David Stasavage
Publication Date:
02-2004
Content Type:
Working Paper
Institution:
United Nations University
Abstract:
This paper examines to what extent the central bank for the West African Economic and Monetary Union (BCEAO) has used interest rate policy in response to domestic economic developments. We show that while in the long run the BCEAO matches changes in French (Eurozone) interest rates one for one, in the short run it retains freedom to react to domestic economic variables, such as inflation, the output gap, its foreign exchange position and government borrowing.
Topic:
Economics, International Organization, International Political Economy, and International Trade and Finance
Political Geography:
Africa, France, and West Africa

3. Monetary Policy in the CFA Zone: Country-level Credit Policy

Author:
Anja Shortland and David Stasavage
Publication Date:
02-2004
Content Type:
Working Paper
Institution:
United Nations University
Abstract:
This paper examines whether the BCEAO has made use of the various policy instruments at its disposal for steering credit in the individual CFA zone member countries to complement interest rate policy at the zone level. We estimate whether private sector credit has responded systematically to different monetary policy variables using iterated 3-stage least squares regressions for Burkina Faso, Côte d'Ivoire, Mali, Senegal and Togo. If we constrain the coefficient estimates there is some support for the hypothesis that the BCEAO has contracted private sector credit in response to a higher inflation differential with France. However, there seems to be no policy rule to restrict private sector credit in response to increasing government borrowing from the central bank or increased foreign borrowing. If the coefficient estimates are unconstrained, there does not appear to be any systematic policy to control credit expansion at the domestic level.
Topic:
Economics, International Organization, International Political Economy, and International Trade and Finance
Political Geography:
Africa and France