In the 1980s the performance of Japan's economy was an international success story, and
led many economists to suggest that the 1990s would be a Japanese decade. Today …

Faster growth and more egalitarian income distribution have been the main objectives of
development. There is a wide-ranging consensus among economists that East Asia holds a …

This paper shows that, contrary to the “official” statistics, the size distribution of income in
Korea has not improved steadily since the late 1970s but deteriorated worst ever in the late …

This paper portrays recent trends in income distribution in eight countries of the developing
East and Southeast Asian region. The available data indicate that the distribution of income …

Inflation and the fonnation of wages have been central to macroeconomic debate during the
last two decades. From the late 1960s Keynesian theory came under increasing attack for its …

In this paper, it is first shown that a simple model of inheritance and chance, neither of which
involve entrepreneurial or other productive contributions on the part of the capital owner, is …

Most discussions of economic growth and economic policy in postwar Japan focus on the
economy as an isolated sector, neglecting its place in Japanese history as a whole. Partly …

Central to efficiency wage models is the idea that a worker's productivity depends on the
(real) wage rate received. Firms find it profitable to pay wages above the market-clearing …

Capitalism versus Pragmatic Market Socialism: A General Equilibrium Evaluation contains
important contributions both to general economic theory and to the evaluation of potential …

It is well known that the Republic of Korea has enjoyed rapid economic growth since the
1960s with relatively equal income distribution. It is also known that Korea's income …