correction method, and applies it to an existing collection of twenty-five social tables, from Rome in AD 1 to India in 1947. The …

century. In emerging India of the twenty first century, wealth is steadily approaching the same disproportionate size … (relative to national income) that was seen during sharp economic downturns in interwar colonial India. The long run 1939-2012 U …

We propose a theory of indebted demand, capturing the idea that large debt burdens by households and governments lower … aggregate demand, and thus natural interest rates. At the core of the theory is the simple yet under-appreciated observation … lead to indebted household demand, pushing down natural interest rates. Moreover, popular expansionary policies—such as …

This study analyzes the impact of supply and demand shocks on income and price inequality in the economy using data … from Korea. First, supply and demand shocks are identified from output and price data in Korea using the methods found in … demand shocks significantly worsen the income distribution. It is estimated that the effect of the demand shock is long …