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Mr. Rodolfo Luzio, Mr. Steven V Dunaway, and Mr. Martin D Kaufman
This paper presents a simple framework that illustrates the link between skill-based wage differentiation and human capital acquisition given skill-biased technical progress. The analysis points to the economic costs resulting from labor market and income redistribution policies that prevent the skill premium from playing its role in fostering human capital accumulation and the adoption of new technologies. The study compares key economic indicators among Canada, France, Germany, the United Kingdom, and the United States. Differences in wage differen-tiation and investment in new technologies among these countries could be related to policies affecting labor markets; such practices may reflect social choices.
Mr. Martin D Kaufman, Mr. Rodolfo Luzio, and Mr. Steven V Dunaway

: Let subscript {0} denote the no-policy, baseline case while subscript {1} represent the income redistribution policy (with no education subsidy). We find that x ¯ 1 < x ¯ 0 ; π ¯ 1 < π ¯ 0 ; and m ¯ 1 < m ¯ 0 . Output growth, after-tax wage premium, and investment in human capital decrease relative to the baseline case. The first pane in Figure 2 illustrates the main implication from income redistribution implying a capping of the wage premium. A direct lump sum transfer to unskilled workers financed by a tax on skilled workers leads to a lower output

International Monetary Fund
This paper reviews the Poverty Reduction Strategy Annual Evaluation Report 2005 for Moldova. Economic growth and income redistribution policies promoted in the context of Economic Growth and Poverty Reduction Strategy (EGPRS) implementation contributed to higher incomes and improved access of population to social services, which led to higher living standards and poverty reduction in Moldova. During 2002–04, poverty rates decreased by 14.5 percentage points. By 2004, only 26.5 percent of the population of Moldova was poor. The most essential decrease took place in 2002–03.
T. N. Srinivasan

of educational and health-care facilities—they viewed poverty as a multifaceted phenomenon and not just a reflection of inadequacy of incomes. A few among them also viewed the absence of participatory democracy as an aspect of poverty. All of them recognized that, given the low level of average income, redistributive policies at best have a limited role (and at worst are counterproductive) in eradicating poverty. They were therefore emphatic about the instrumental roles of rapid growth in income and its better distribution for achieving the objective of poverty

International Monetary Fund

This paper reviews the Poverty Reduction Strategy Annual Evaluation Report 2005 for Moldova. Economic growth and income redistribution policies promoted in the context of Economic Growth and Poverty Reduction Strategy (EGPRS) implementation contributed to higher incomes and improved access of population to social services, which led to higher living standards and poverty reduction in Moldova. During 2002–04, poverty rates decreased by 14.5 percentage points. By 2004, only 26.5 percent of the population of Moldova was poor. The most essential decrease took place in 2002–03.

Mr. Rodolfo Luzio, Mr. Steven V Dunaway, and Mr. Martin D Kaufman

monotonically related to the evolution of output. □ The effect of income redistribution and education subsidies The balance budget constraint: w s τ s s + w u τ u u = ε G ( m ) + u η, where τ s , τ u , η, and ε correspond to an income tax on skilled and unskilled workers, a lump sum transfer to unskilled labor and an education subsidy respectively. Result 3: Let subscript {0} denote the no-policy, baseline case while subscripts {1} represent the income redistribution policy (with no education subsidy). We find that x ¯ 1 < x ¯ 0 ; π ¯ 1 < π ¯ 0 ; and

Arnold McIntyre, Pablo Bejar, Mr. Takuji Komatsuzaki, and Mr. Mauricio Vargas

threshold but that impact becomes negative for values above it, and null elsewhere. 9 However, if we consider redistribution levels in advanced economies, this tentative explanation is at least controversial. Income redistribution policies in most advanced European countries are much larger, indeed, on average, they represent a reduction in the Gini coefficient of around 20 points (the difference between Gini at market income and Gini at disposable income). As stated in previous sections, redistribution levels in small states represent on average about 3 points of

International Monetary Fund

growth. They observed that recent income redistribution policies, including the rice price support mechanism, need to be monitored and assessed with a view to containing fiscal costs and improve efficiency. In addition, minimum wage increases should be accompanied by measures boosting labor productivity to preserve competitiveness. In this context, Directors considered that technology transfers and investment in human capital and infrastructure, particularly in less developed regions, are needed to raise long-term growth. To create the fiscal space necessary to support