Inequality of opportunity in earnings and assets in Egypt

ABSTRACT

By most available measures, the level of inequality in the MENA region, including Egypt, is considered relatively low. This regularity applies to both inequality of outcomes as well as inequality of opportunity. This paper challenges this view. It argues specifically that circumstances beyond the control of individuals account for a larger share of inequality of opportunity when asset distribution is considered rather than the distribution of earnings, essentially because earnings are subject to measurement errors and idiosyncratic shocks. The paper tests this proposition by estimating the extent to which factors related to the circumstances a person is born into contribute to inequality of opportunity in earnings as well as asset ownership. The results show that circumstances account 26–32% of inequality of asset distribution, compared with only 8–10% of inequality of opportunity in earnings. The analysis further shows that the area of birth and fathers education level are the two most important circumstance factors contributing to inequality of opportunity, for both assets and earnings.     

Computational thinking embedded in engineering design: capturing computational thinking of children in an informal engineering design activity

Just as engineering and computational thinking have recently gained increased attention in pre-college school-based education, many museums and science centers have also designed exhibits and experiences to promote computational thinking and engineering learning. Recent reports suggest that computational and engineering thinking can empower each other, and engineering design can be an appropriate context for children’s engagement in computational thinking. Previous studies have documented young children’s abilities to engage in engineering thinking and other studies have collected evidence of young children’s abilities to engage in computational thinking. However, there is little research that explores how children’s engagement in both engineering and computational thinking can support each other. Hence, in this qualitative case study, we aimed to examine how 5 to 7-year-old children engage in computational thinking competencies in the context of a family based engineering design activity. This activity was conducted at a small science center exhibit. In our presented findings we map children’s enactment of at least one CT competency to children’s engagement in engineering design actions.

     

New Keynesian Explanations of Cyclical Movements in Aggregate Inflation and Regional Inflation Differentials

What determines the cyclical behavior of aggregate inflation and regional inflation differentials? The answer has strong implications for monetary policy and in Europe for the Stability and Growth Pact. In the United States, inflation rates move pro-cyclically, and across the Euro Area, inflation differentials are positively correlated with growth differentials. This suggests that demand shocks are the primary determinants of the cyclical behavior of aggregate inflation and regional inflation differentials. In this paper, we discuss New Keynesian explanations of these correlations, and we argue that demand shocks are either missing or inadequately modeled in the in typical New Keynesian model.     

The Stability and Growth Pact: A Delicate Balance or an Albatross?

The EU's Stability and Growth Pact tries to strike a delicate balance: it imposes the constraints on national fiscal policy that were deemed necessary to protect the new European Central Bank from outside pressures; at the same time, it allows flexibility for a counter-cyclical policy. First, we review official institutions' studies of the flexibility embedded in the Pact and find a rather strong consensus: the Pact seems likely to constrain counter-cyclical fiscal efforts in the years ahead, or at least until EU governments bring their structural deficits into balance. Then, we review conventional academic arguments that suggest a new central bank might need to be protected from external pressures, and we ask if the constraints that were actually written into the Pact are likely to be helpful in this regard. We conclude that the Pact is closer to an albatross than a delicately balanced package of necessary fiscal constraints.     

The changing profile of caravanners in Australia

Caravanning has been a popular leisure activity in Australia for many decades. In recent years the profile of the industry has changed with a shift from family caravanning to retirees. This change has significant implications for the industry overall as well as the regional areas visited by caravanners. This paper reports on research designed to develop a profile of contemporary caravanning in Australia. One of the most significant findings was the homogeneity of the respondents. The largest groups of respondents were ‘empty nesters’, people who were retired or near retirement and who were attracted to three clusters of activities: nature; shopping and eating; and visiting heritage attractions. Another major finding of interest for regional areas was the relatively low daily expenditure on food and accommodation. The paper discusses a range of options that may be used by regional areas to boost their caravan sector. Copyright © 2006 John Wiley & Sons, Ltd.     

Cultural values and definitions of career success

This paper examines how national culture relates to the ways that individuals define career success. Data are drawn from interviews with 269 professional services employees in 15 countries. Interviews are content coded and linked with country‐level Global Leadership and Organizational Behavior Effectiveness measures of cultural values. We test our hypotheses using a multilevel multinomial logit model. The results demonstrate that the ways in which employees define career success vary across countries, due in part to differences in cultural values after controlling for gender, occupation, job level, and national economic development. We find that employees from countries high in future orientation, uncertainty avoidance, and performance orientation are more likely to define career success in terms of interpersonal outcomes, and those from countries high in collectivism (institutional and in‐group), humane orientation, and gender egalitarianism are more likely to prefer intrapersonal outcomes. We find that employees from countries that are high in assertiveness, uncertainty avoidance, and performance orientation are more likely to define career success in terms of achievement‐oriented outcomes. Finally, we find that employees from countries high in power distance report career success definitions in terms of safety and security outcomes. We discuss the implications of these findings for theories of cultural differences in careers across countries.     

Fiscal Discipline and Exchange Rate Systems

A new 'fiscal' theory of price determination has implications for exchange rate systems and common currency areas. We show that deeper monetary integration requires the discipline of a Ricardian regime ; that is, the government must guarantee fiscal solvency for any sequence of prices or exchange rates. Particularly striking results are that a currency peg is not credible without the discipline of a Ricardian regime, and a common currency area is not viable if fiscal policy in two (or more) of the countries in the union is Non-Ricardian. Interestingly, constraints written into the Maastricht Treaty are sufficient for a Ricardian regime.     

The need for international policy coordination: what's old, what's new, what's yet to come?

The first generation of policy coordination models was introduced some 25 years ago; it provided a rationale for policy coordination, but the gains from coordination were generally thought to be small. Now, a new generation of policy coordination models is emerging, incorporating monopolistic competition and nominal inertia. Here, we examine macroeconomic interdependence and the scope for policy coordination in a tractable second generation model with two countries and multiple sectors. Initial calibration of the model suggests that second generation models may have more scope for policy coordination than did the first.