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This paper places what has happened to income inequality in rich countries over recent decades alongside trends in median and low incomes in real terms, taken as incomplete but valuable indicators of the evolution of living standards for “ordinary working families” and the poor. The findings demonstrate first just how varied country experiences have been, with some much more successful than others in generating rising real incomes around the middle and toward the bottom of the distribution. This variation is seen to be only modestly related to the extent to which income inequality rose, which itself is more varied across the rich countries than is often appreciated. The extent to which economic growth is transmitted to the middle and lower parts of the distribution is seen to depend on a range of factors of which inequality is only one. Sources of real income growth around the middle have also varied across countries, though transfers are consistently key toward the bottom. The diversity of rich country experiences should serve as an important corrective to a now-common “grand narrative” about inequality and stagnation based on the experience of the USA.

This contribution explores intergenerational relations and negotiations in Viet-German families. Due to family members' diverging socialization experiences in Vietnam and Germany as well as social ties in both societies, we assume that different ideas of intergenerational relations and mutual obligations may be found in Viet-German families. We distinguish between interdependent and independent intergenerational patterns of solidarity. Based on interviews with young adults – the descendants of Vietnamese migrants – four thematic areas are identified, in and through the shaping of which intergenerational relations are continuously negotiated at the face of migration-related challenges. These are (1) a childhood for the future, (2) reciprocal support, (3) individualization of family members and intimization of the family and (4) boundaries against kinship and the Vietnamese community. Our analysis reveals the emergence of a new, hybrid pattern of intergenerational solidarity, for which we suggest the term “individualized interdependence.” The role of young adults in the elaboration of this new family order stands out.

Since its introduction by Chari, Kehoe, and McGrattan (2007), Business Cycle Accounting (BCA) exercises have become widespread. Much attention has been devoted to the results of such exercises and to methodological departures from the baseline methodology. Little attention has been paid to identification issues within these classes of models. In this chapter, the authors investigate whether such issues are of concern in the original methodology and in an extension proposed by Šustek (2011) called Monetary Business Cycle Accounting. The authors resort to two types of identification tests in population. One concerns strict identification as theorized by Komunjer and Ng (2011) while the other deals both with strict and weak identification as in Iskrev (2010). Most importantly, the authors explore the extent to which these weak identification problems affect the main economic takeaways and find that the identification deficiencies are not relevant for the standard BCA model. Finally, the authors compute some statistics of interest to practitioners of the BCA methodology.

In large parts of the world, income inequality has been rising in recent decades. Other regions have experienced declining trends in income inequality. This raises the question of which mechanisms underlie contrasting observed trends in income inequality around the globe. To address this research question in an empirical analysis at the aggregate level, we examine a global sample of 73 countries between 1981 and 2010, studying a broad set of drivers to investigate their interaction and influence on income inequality. Within this broad approach, we are interested in the heterogeneity of income inequality determinants across world regions and along the income distribution. Our findings indicate the existence of a small set of systematic drivers across the global sample of countries. Declining labour income shares and increasing imports from high-income countries significantly contribute to increasing income inequality, while taxation and imports from low-income countries exert countervailing effects. Our study reveals the region-specific impacts of technological change, financial globalisation, domestic financial deepening and public social spending. Most importantly, we do not find systematic evidence of education’s equalising effect across high- and low-income countries. Our results are largely robust to changing the underlying sources of income Ginis, but looking at different segments of income distribution reveals heterogeneous effects.

Disruptive technologies are accelerating global growth. Artificial intelligence (AI) has the potential to transform the idea of delivering value to end users. On the other hand, the growth of Industry 5.0 has given rise to the concept of humanizing technology, and AI is a promising technology with the potential to contribute to business success. Nevertheless, the idea of value creation in the field of AI is novel, so it is necessary to define the meaning of value by understanding the context of AI applicability in different environments and industries. In this chapter, the author uses the Scientific Procedures and Rationales for Systematic Literature Reviews (SPAR-4-SLR) procedure to conduct an SLR that provides interesting insights into the focus, industries, and methodologies and approaches used in existing research. Following the initial literature review on the state of the art of AI and value creation, the author also offers a reflection on the strategic implications of AI in the field of marketing, postulating a macrovalue creation framework that addresses the existence of implications on three different levels: emerging markets, Sustainable Development Goals, and adoption issues. Therefore, this chapter examines the value creation perspectives of AI to understand the current research focus and future directions.