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Income inequality, tax base and sovereign spreads
Aizenman, Joshua; Jinjarak, Yothin - 2012
This paper investigates the association between greater income inequality, de-facto fiscal space, and sovereign spreads. Using data from 50 countries in 2007, in 2009 and in 2011, we find that higher income inequality is associated with a lower tax base, lower de-facto fiscal space, and higher...
Persistent link: https://www.econbiz.de/10009552172
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Income inequality, tax base and sovereign spreads
Aizenman, Joshua; Jinjarak, Yothin - 2012
This paper investigates the association between greater income inequality, de-facto fiscal space, and sovereign spreads. Using data from 50 countries in 2007, in 2009 and in 2011, we find that higher income inequality is associated with a lower tax base, lower de-facto fiscal space, and higher...
Persistent link: https://www.econbiz.de/10010288122
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The impossible trinity ; from the policy trilemma to the policy quadrilemma
Aizenman, Joshua - 2011
The policy Trilemma (the ability to accomplish only two policy objectives out of financial integration, exchange rate stability and monetary autonomy) remains a valid macroeconomic framework. The financial globalization during 1990s-2000s reduced the weighted average of exchange rate stability...
Persistent link: https://www.econbiz.de/10008908358
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The impossible trinity (aka the policy Trilemma) : the encyclopedia of financial globalization
Aizenman, Joshua - 2010
The policy Trilemma (the ability to accomplish only two out of three policy objectives -financial integration, exchange rate stability and monetary autonomy) continues to be a valid macroeconomic framework. The financial globalization during 1990s-2000s reduced the weighted average of exchange...
Persistent link: https://www.econbiz.de/10008647622
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The impossible trinity : from the policy trilemma to the policy quadrilemma
Aizenman, Joshua - In: Global journal of economics 2 (2013) 1, pp. 1-17
Persistent link: https://www.econbiz.de/10011563005
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Income Inequality, Tax Base and Sovereign Spreads
Aizenman, Joshua; Jinjarak, Yothin - In: FinanzArchiv: Public Finance Analysis 68 (2012) 4, pp. 431-444
This paper investigates the association between greater income inequality, de-facto fiscal space, and sovereign spreads. Using data from 50 countries in 2007, in 2009 and in 2011, we find that higher income inequality is associated with a lower tax base, lower de-facto fiscal space, and higher...
Persistent link: https://www.econbiz.de/10010628254
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What is the risk of European sovereign debt defaults? : fiscal space, CDS spreads and market mispricing of risk
Aizenman, Joshua; Hutchison, Michael M.; Jinjarak, Yothin - 2011
We estimate the pricing of sovereign risk for a large number of countries within and outside of Europe, before and … zone countries, and the PIIGS in particular, as elsewhere in the world. We validate that fiscal space has been an important … determinant of market-based sovereign risk, and find evidence of mispricing in PIIGS given current fiscal space and other current …
Persistent link: https://www.econbiz.de/10008857043
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What is the risk of European sovereign debt defaults? : fiscal space, CDS spreads and market pricing of risk
Aizenman, Joshua; Hutchison, Michael M.; Jinjarak, Yothin - 2011
Persistent link: https://www.econbiz.de/10009312766
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Precautionary strategies and household savings
Aizenman, Joshua; Cavallo, Eduardo A.; Noy, Ilan - 2015
Persistent link: https://www.econbiz.de/10010520225
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What is the risk of European sovereign debt defaults? : fiscal space, CDS spreads and market pricing of risk
Aizenman, Joshua; Hutchison, Michael M.; Jinjarak, Yothin - In: Journal of international money and finance 34 (2013), pp. 37-59
Persistent link: https://www.econbiz.de/10009751131