Brookins India Working Paper

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  • Is a growing middle class good for the poor? Social policy in a time of globalization 

    Desai, Raj M.; Kharas, Homi (Brookings India, 2017-07-13)
    Despite much analysis of the rise of the middle class, little is known about the effects of an expanding middle class on the poorest in society. In the late 19th century, Europe’s middle class played a critical role in the creation of social protections ...
  • Unequal hopes and lives in the U.S.: Optimism (or Lack Thereof), Race, and Premature Mortality 

    Graham, Carol; Pinto, Sergio (Brookings India, 2017-06-08)
    The 2016 election highlighted deep social and political divisions in the United States, and related unhappiness and frustration among poor and uneducated whites. We find large heterogeneities in optimism across race groups. After controlling for ...
  • Debt sustainability in a low interest rate world 

    Mehrotra, Neil R. (Brookings India, 2017-06-02)
    Conditions of secular stagnation – low growth and low real interest rates – have counteracting effects on the cost of servicing the public debt. With sufficiently low interest rates relative to growth, governments can raise revenues by increasing the ...
  • Money-financed fiscal programs: A cautionary tale 

    English, WIlliam B.; Erceg, Christopher J.; Lopez-Salido, David (Brookings India, 2017-06-02)
    A number of prominent economists and policymakers have argued that money-financed fiscal programs (helicopter drops) could be efficacious in boosting output and inflation in economies facing persistent economic weakness, very low inflation, and significant ...

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