returns, debt, and leverage. The regime-switching generates i) multimodal distributions of the variables above; ii) time …

inequality. However, this is the net result of reduced differences at the bottom and increased differences at the top. So there …

that the constrained-efficient allocation features more wealth inequality than the competitive equilibrium …

Rationale This article presents annual distributions of aggregate wealth and debt components of Spanish households by … wealth and debt accounts allow us to monitor the distribution of aggregate wealth and debt among different groups of … two quintiles of the income distribution saw their share of total housing wealth and debt for purposes other than house …

reducing inequality. Educated workers in these countries have a much lower birth rate than uneducated workers. Assuming … incorporating this effect generates multiple stedy-state levels of inequality, suggesting that in some circumstances, temporarily … increasing access to educational opportunities could permanently reduce inequality. Empirical evidence suggests that the …

Overall, household debt levels have risen sharply over the past decades in EU Member States. While certain levels of …

real sector; (2) transfer income from the real sector to the financial sector; and (3) increase income inequality and … risk of debt-deflation and prolonged recession. Financialization operates through three different conduits: changes in the …

’ financial management considering high usage of debt financing, litter effort has been made. Considering the extent of hotel … firms’ financial constraints, this study examines the precautionary motive of cash holding toward external financing (debt … study tests the relation of cash to debt and cash flow. Regardless of the extent of financial constraints, cash holding is …