We posit that the relationship between income inequality and economic growth ismediated by the level of equality of opportunity, which we identify with intergenerationalmobility. In economies characterized by intergenerational rigidities, an increase in incomeinequality has persistent...

The “middle-income trap” is the phenomenon of hitherto rapidly growing economies stagnating at middle-income levels and failing to graduate into the ranks of high-income countries. In this study we examine the middle-income trap as a special case of growth slowdowns, which are identified as...

The age-distribution of Europe's workforce has shifted towards older workers over the past few decades, a process expected to accelerate in the years ahead. This paper studies the effect of the aging of the workforce on labor productivity, identifies the main transmission channels, and examines...