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The paper studies how high leverage and crises can arise as a result of changes in the income distribution. Empirically, the periods 1920-1929 and 1983-2008 both exhibited a large increase in the income share of the rich, a large increase in leverage for the remainder, and an eventual financial...
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Recent debate has suggested that growing levels or high levels of inequality may be systematically associated with the occurrence of banking crises. Using the updated version of the Chartbook of Economic Inequality, this paper provides new empirical evidence on the 'level' hypothesis and...
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Financialization period is the most important crossroads of the neoliberal globalization policies. Neoliberal economic … policies are created after the 1980 worldwide financial capital in the reorganization of the globalized world with the … natural. Because the world is now a different place. Historically, the analysis we do, we briefly as opposed to a dynamic …
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An apparent temporary narrowing of income inequality has been observed during several recent banking crises. But it would be a mistake to conclude that such crises don't matter for the poor. For one thing, the correlation is not strong, and the opposite pattern has also been present. Besides,...
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