Faculty of Economics
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Cambridge Working Papers in Economics (CWPE)
A new series of papers from the Faculty of Economics and the Department of Applied Economics, which supersedes the DAE Working Paper series
Recent Submissions
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Why is inequality so unequal across the world? Part 2 The diversity of inequality in market income ─ and the increasing asymmetry between the distribution of income before and after taxes and transferences
(2019-12-20)This is a two-part paper. Part 1 addresses the diversity in the distribution of disposable income across the world; and Part 2, that in market income (i.e., before taxes and transferences). There are many underlying ... -
Testing Correlation in Error-Component Models
(Faculty of Economics, University of Cambridge, 2019-09-04)This paper concerns linear models for grouped data with group-specific effects. We construct a portmanteau test for the null of no within-group correlation beyond that induced by the group-specific effect. The approach ... -
Why is inequality so unequal across the world? Part 1. The diversity of inequality in disposable income: multiplicity of fundamentals, or complex interactions between political settlements and market failures?
(2019-12-20)This is a two-part paper. Part 1 addresses the diversity in the distribution of disposable income across the world; and Part 2, that in market income (i.e., before taxes and transferences). There are many underlying ... -
Exchange Rate Risk and Business Cycles
(2019-12-03)We show that currencies with a steeper yield curve tend to depreciate at business cycle horizons, in violation of uncovered interest parity (UIP), but the yield curve adds no explanatory power over and above interest ...
