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policy design did take seriously the problem of inequality? Using official documents such as transcripts of Roosevelt … recovery in the 1930s, especially the New Deal. The role of income inequality before and during the Great Depression, however …, has almost never been discussed thoroughly. This paper attempts to answer two questions. Firstly, was inequality perceived …
Persistent link: https://www.econbiz.de/10011477411
capitalism, the Great Depression. However, the role of rising income inequality, which has risen dramatically before both crises …, is rarely discussed. In this paper we discuss the rise of top-end inequality and its effects on household consumption … period of interest. We argue that income inequality is linked to the increase of household consumption and the simultaneous …
Persistent link: https://www.econbiz.de/10011289390
By the beginning of the 20th century, the possibility and efficacy of economic planning was believed to have been proven by totalitarian experiments in Germany, the Soviet Union, and, to a lesser degree, Fascist Italy; however, the possibilities and limitations of planning in capitalist...
Persistent link: https://www.econbiz.de/10011974796
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
We examine the interplay between changes in the functional distribution of income and the distribution of market income among households. We use micro data from the German Socio-Economic Panel as well as macro data from the German Federal Statistical Office from 2002 to 2008. We categorize and...
Persistent link: https://www.econbiz.de/10009751309
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
This paper seeks to explain the collapse of the market for bankers' acceptances between 1931 and 1932 by tracing the doctrinal foundations of Federal Reserve policy and regulations back to the Federal Reserve Act of 1913. I argue that a determinant of the collapse of the market was Carter Glass'...
Persistent link: https://www.econbiz.de/10012167430