Abstract

Since the beginning of the 1990s, global output has grown by more than 3 percent a year, and inflation has slowed in most regions. Some groups and individuals have done better than others, however, and income disparities have grown in many countries, developed as well as developing. If economic growth and equity do not always go hand in hand, how should policymakers respond? This is one of the most pressing issues facing policymakers today.

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