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We show that US financial shocks have an impact on the distribution of UK income and consumption. Households with higher income and higher levels of consumption are affected more by this shock than households located towards the lower end of these distributions. An estimated multiple agent DSGE...
Persistent link: https://www.econbiz.de/10011787854
We show that US financial shocks have an impact on the distribution of UK income and consumption. Households with higher income and higher levels of consumption are affected more by this shock than households located towards the lower end of these distributions. An estimated multiple agent DSGE...
Persistent link: https://www.econbiz.de/10011867783
We study the sustainability of public debt in a closed production economy where a benevolent government chooses fiscal policies, including haircuts on its outstanding debt, in a discretionary manner. Government bonds are held by domestic agents to smooth consumption over time and because they...
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A frequently neglected aspect of financial booms and busts - financial cycles - is their impact on fiscal positions. And yet, the latest financial crisis and history show that these cycles can wreak havoc with public finances. After reviewing the impact of financial cycles on fiscal positions,...
Persistent link: https://www.econbiz.de/10012996412
This paper investigates the impact of financialization and changes in corporate governance on income inequality for a … widespread, there has been little empirical analysis of the link between these phenomena and the rise in income inequality. Since … has increasingly focused on shareholder value. Three decades later, income inequality has grown considerably. Above all …
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