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Ireland is one of the countries most severely affected by the Great Recession. National income fell by more than 10 per … crisis, and deep fiscal adjustment. This paper examines the income distribution consequences of the recession, and identifies … per cent between 2008 and 2011, but the greatest losses were strongly concentrated on the bottom and top deciles. Tax …
Persistent link: https://www.econbiz.de/10009765520
Ireland is one of the countries most severely affected by the Great Recession. National income fell by more than 10 per … crisis, and deep fiscal adjustment. This paper examines the income distribution consequences of the recession, and identifies … per cent between 2008 and 2011, but the greatest losses were strongly concentrated on the bottom and top deciles. Tax …
Persistent link: https://www.econbiz.de/10009761408
expectations, a structural labor demand model, and a tax-benefit microsimulation model. Our findings show that as of September 2020 …. However, the tax benefit system and discretionary policy responses to the crisis act as important income stabilizers, since …
Persistent link: https://www.econbiz.de/10012383744
expectations, a structural labor demand model, and a tax-benefit microsimulation model. Our findings show that as of September 2020 …. However, the tax benefit system and discretionary policy responses to the crisis act as important income stabilizers, since …
Persistent link: https://www.econbiz.de/10012383825
Following the winter recession and stagnation in the second quarter of 2023, the economic upswing is proceeding at a …
Persistent link: https://www.econbiz.de/10014362798
There is a growing literature comparing the current financial crisis or Great Recession to the worst economic crisis of …
Persistent link: https://www.econbiz.de/10011289390
through 2006, and its debt-income ratio rose dramatically, unlike the ratio for the top 5 percent. In the Great Recession, the …
Persistent link: https://www.econbiz.de/10013064683
The U.S. economy shows a contrasting difference in cyclical properties between low- and high-income groups. Income shares of the bottom three income quintiles are procyclical; while those of the next 35 percent are countercyclical. However, the income share of the very top five percent income...
Persistent link: https://www.econbiz.de/10012839768
How much does inequality matter for the business cycle and vice versa? Using a Bayesian likelihood approach, we estimate a heterogeneous-agent New-Keynesian (HANK) model with incomplete markets and portfolio choice between liquid and illiquid assets. The model enlarges the set of shocks and...
Persistent link: https://www.econbiz.de/10012841741
Empirically, the income share is procyclical for the low-income groups and acyclical for the top 5%. We find that business cycle models should consider overlapping generations and elastic labor supply in order to replicate this finding
Persistent link: https://www.econbiz.de/10012777297