Matthew J. Higgins

Federal Reserve Bank of New York
International Economics Function
Federal Reserve P.O. Station
New York, New York 10045

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NBER Working Papers and Publications

July 1999Explaining Inequality the World Round: Cohort Size, Kuznets Curves, andOpenness
with Jeffrey G. Williamson: w7224
Klaus Deininger and Lyn Squire have recently produced an inequality data base for a panel of countries from the 1960s to the 1990s. We use these data to decompose the sources of inequality into three central parts: the demographic or cohort size effect; the so-called Kuznets Curve or demand effects; and the commitment to globalization or policy effects. We also control for education supply, the so-called natural resource curse and other variables suggested by the literature. While the Kuznets Curve comes out of hiding when the inequality relationship is conditioned by the other two, cohort size seems to be the most important force at work. We resolve the apparent conflict between this macro finding on cohort size and the contrary implications of recent research based on micro data.

Published: Higgins, Matthew and Jeffrey G. Williamson. “Explaining Inequality the World Round: Cohort Size, Kuznets Curves, and Openness." Southeast Asian Studies 40, 3 (December 2002): 268-302.

May 1996Asian Demography and Foreign Capital Dependence
with Jeffrey G. Williamson: w5560
Ansley Coale and Edgar Hoover were right about Asia. Rising fertility and declining infant mortality have had a profound impact on Asian savings, investment and foreign capital dependency since Coale and Hoover wrote in 1958. We argue that: Much of the impressive rise in Asian savings rates since the 1960s can be explained by the equally impressive decline in youth dependency burdens; Where Asia has kicked the foreign capital dependence habit is where youth dependency burdens have fallen most dramatically; Aging will not diminish Japan's capacity to export capital in the next century, but little of it will go to the rest of Asia since the rest will become net capital exporters, at least if demography is allowed to have its way. These conclusions emerge from a model which rejects steady-...

Published: Population and Development Review, Vol. 23, no. 2 (June 1997): 261-293.(Published as "Age Structure Dynamics in Asia and Dependence on Foreign Capital")

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