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, especially in crises. This procyclicality is desirable from a political perspective and has a welfare- enhancing effect by, for …
Persistent link: https://www.econbiz.de/10012704816
the post-tax income distribution in the US. First, all incomes are cyclical and co-move with the business cycle. Second …
Persistent link: https://www.econbiz.de/10013215733
consumption. We document that greater concentration of (after-tax) income in the top decile is associated with a significantly …
Persistent link: https://www.econbiz.de/10013226268
Recent studies by Atkinson (2011); Rajan (2010); Kumhof and Rancière (2010); Bordo and Meissner (2013) have assessed the relationship between income inequality, bank credit, and financial stability. We analyze the relationship between income inequality and bank credit in panel cointegration...
Persistent link: https://www.econbiz.de/10013062088
The Great Recession had a tremendous impact on low-income Americans, in particular black and Latino Americans. The … in overall economic well-being and inequality as well as changes in racial economic inequality over the Great Recession …, during the Great Recession racial inequality in terms of the Levy Institute Measure of Economic Well-Being (LIMEW) decreased …
Persistent link: https://www.econbiz.de/10011591483
recession, resulting in a substantial rise in unemployment, and income and wealth inequality. This paper uses longitudinal data …
Persistent link: https://www.econbiz.de/10012111075
This paper studies the effects of quantitative easing on income and wealth of individual euro area households. The aggregate effects of quantitative easing are estimated in a multi-country VAR model of the four largest euro area countries, in which key variables affecting household income and...
Persistent link: https://www.econbiz.de/10011921470
The Great Recession and the widespread adoption of fiscal austerity policies have heightened concern about inequality … and how well tax-benefit systems redistribute. We examine how the distribution of income in the EU countries which were … hardest hit during the recession evolved over this time. Using and extending a recently developed framework (Savage et al …
Persistent link: https://www.econbiz.de/10011864980
before, during and after the great recession (2004-2017). Linear regressions, which make use of ex-post Gini coefficients … controlling for a possible impact from the great recession as well as from EU membership. …
Persistent link: https://www.econbiz.de/10012146968
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/10012162730