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In this paper we analyze the dynamics among past major pandemics, economic growth, inequality, and social unrest. We … increase in social unrest by reducing output and increasing inequality. We also find that higher social unrest, in turn, is … associated with lower ourput and higher inequality, pointing to a vicious cycle. Our results suggest that without policy measures …
Persistent link: https://www.econbiz.de/10012392066
the income share of higher-income deciles, and lowered the employment-to-population ratio for those with basic education … compared to those with higher education. We provide some evidence that the distributional consequences from the current …
Persistent link: https://www.econbiz.de/10012613506
as its implications for income inequality. The main finding is that young, less educated, and low skilled workers, as … hypothesize that income inequality likely has increased due to the pandemic. Policies aiming at reducing inequality in the labor …
Persistent link: https://www.econbiz.de/10013170558
inequality (Furceri, Loungani, Ostry and Pizzuto, 2020). In this paper, we show that the extent of fiscal consolidation in the … inequality. Episodes marked by extreme austerity-measured using either the government's fiscal balance, health expenditures or … redistribution-have been associated with an increase in the Gini measure of inequality three times as large as in episodes where …
Persistent link: https://www.econbiz.de/10012613680
the epidemic's health costs. Moreover, we show that having more agents who do not change their behavior during the …
Persistent link: https://www.econbiz.de/10012302063
Using the U.S. Current Population Survey data, this paper compares the distributional impacts of the Pandemic Crisis and those of the Global Financial Crisis in terms of (i) worker characteristics, (ii) job characteristics-'social' (where individuals interact to consume goods), 'teleworkable'...
Persistent link: https://www.econbiz.de/10012251998
The paper studies how high leverage and crises can arise as a result of changes in the income distribution. Empirically, the periods 1920-1929 and 1983-2008 both exhibited a large increase in the income share of the rich, a large increase in leverage for the remainder, and an eventual financial...
Persistent link: https://www.econbiz.de/10014402855
The COVID-19 pandemic risks exacerbating inequality in Asia. High frequency labor surveys show that the pandemic is … to increase inequalities. As a result, income inequality, which was already high and rising in Asia before the pandemic …
Persistent link: https://www.econbiz.de/10012392069
Corporate sector vulnerabilities have been a central policy topic since the outset of the COVID-19 pandemic. In this paper, we analyze some 17,000 publicly listed firms in a sample of 24 countries, and assess their ability to withstand shocks induced by the pandemic to their liquidity, viability...
Persistent link: https://www.econbiz.de/10012605125
to significant and persistent reductions in disposable income, along with increases in unemployment, income inequality …
Persistent link: https://www.econbiz.de/10012613687