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ID:
155595
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| Summary/Abstract |
Several recent studies link rising income inequality in the United States to the global financial crisis, arguing that US politicians did not respond to growing inequality with fiscal redistribution. Instead, Americans saved less and borrowed more to maintain relative consumption in the face of widening economic disparities. This article proposes a theory in which fiscal redistribution dampens the willingness of citizens to borrow to fund current consumption. A key implication is that pretax inequality will be more tightly linked with credit in less redistributive countries. The long-run partisan composition of government is, in turn, a key determinant of redistributive effort. Examining a panel of eighteen OECD democracies, the authors find that countries with limited histories of left-wing participation in government are significantly more likely see credit expansion as prefisc inequality grows compared to those in which the political left has been more influential.
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| 2 |
ID:
082613
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| Publication |
2008.
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| Summary/Abstract |
Higher education policy has been subject to considerable reform in oecd states over the past two decades. Some states have introduced tuition fees, others have massively increased public funding for higher education, and still others remain in stasis, retaining the elitist model with which they began the postwar era. This article develops the argument that higher education policy in the oecd is driven by a set of partisan choices within a trilemma between the level of enrollment, the degree of subsidization, and the overall public cost of higher education. The author develops a formal model of the micromechanisms underlying movements within this trilemma, noting the importance of partisan politics, existing enrollment, tax structure, and access. These propositions are tested statistically on a sample of twenty-two oecd countries and through case histories of higher education reform in England, Sweden, and Germany
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