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wealth and income inequality at the cost of negative effects on capital, labor, and output. Finally, these theoretical …
Persistent link: https://www.econbiz.de/10012389033
Using agent-based simulation methods we explore the interplay between income distribution, personal insolvency regulations and household borrowing focusing on the effects on macroeconomic dynamics. In order to capture the empirically observed distribution of income and wealth, we model them by...
Persistent link: https://www.econbiz.de/10011515970
Preserving environmental quality and addressing economic inequality both feature prominently in public discourse … consider interactions with the other. We synthesize theoretical mechanisms that underpin inequality-environment interlinkages … distribution of environmental amenities and dis-amenities is associated with income and wealth, second, how economic inequality …
Persistent link: https://www.econbiz.de/10012694139
main patterns of inequality, between and within the social groupings. We find that the effects of peer pressure on within …-group inequality differ between groups. We also find that wealth and consumption inequality increase within groups who aspire to match … social targets from a higher class, despite a reduction in within-group inequality in hours and earnings. …
Persistent link: https://www.econbiz.de/10012103597
We study how income inequality affects monetary policy through the inequality-household debt channel. We design a … rate and decreasing bankruptcies during the household's debt boom phase. When inequality meets financial liberalization, a … that inequality may constrain the central bank, even when it is not explicitly targeted. …
Persistent link: https://www.econbiz.de/10013548811
This paper estimates a nonlinear Threshold-VAR to investigate if a Keynesian liquidity trap due to a speculative motive was in place in the U.S. Great Depression and the recent Great Recession. We find clear evidence in favor of a breakdown of the liquidity effect after an unexpected increase in...
Persistent link: https://www.econbiz.de/10011863616
The paper examines the determinants of income and wealth inequality in a Kaldorian model where the profit share adjusts … increasing inequality in income and wealth since the early 1980s, including the shift of the power relation in corporate firms in … growth reduces inequality of income and wealth in this Kaldorian framework. …
Persistent link: https://www.econbiz.de/10011522149
1980s can be explained by the interplay of rising (top-end) household income inequality and institutions. On the other hand …
Persistent link: https://www.econbiz.de/10010201629
income. It develops a model with an endogenous wealth distribution and shows that the endogenous rise in wealth inequality … of wealth inequality. The paper thereby provides a possible explanation for the instability of demand regimes over time. …
Persistent link: https://www.econbiz.de/10012182882
Mobile workers involve flows of labor and human capital and contribute to a more efficient allocation of resources. However, migration also changes relative wages, alters the distribution of skills and affects equality in the receiving society. The paper suggests that skilled immigration...
Persistent link: https://www.econbiz.de/10010361361