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Income Distribution And Economic Crises
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Book Synopsis Inequality, Leverage and Crises by : Mr.Michael Kumhof
Download or read book Inequality, Leverage and Crises written by Mr.Michael Kumhof and published by International Monetary Fund. This book was released on 2010-11-01 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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 and real crisis. The paper presents a theoretical model where these features arise endogenously as a result of a shift in bargaining powers over incomes. A financial crisis can reduce leverage if it is very large and not accompanied by a real contraction. But restoration of the lower income group's bargaining power is more effective.
Book Synopsis Inequality, Leverage and Crises by : Mr.Michael Kumhof
Download or read book Inequality, Leverage and Crises written by Mr.Michael Kumhof and published by International Monetary Fund. This book was released on 2013-12-17 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper studies how high household 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 high-income households, a large increase in debt leverage of the remainder, and an eventual financial and real crisis. The paper presents a theoretical model where higher leverage and crises arise endogenously in response to a growing income share of high-income households. The model matches the profiles of the income distribution, the debt-to-income ratio and crisis risk for the three decades prior to the Great Recession.
Book Synopsis Who Loses in the Downturn? by : Herwig Immervoll
Download or read book Who Loses in the Downturn? written by Herwig Immervoll and published by Emerald Group Publishing. This book was released on 2011-04-15 with total page 303 pages. Available in PDF, EPUB and Kindle. Book excerpt: Contains fresh knowledge on the effects of the economic downturn on employment and income distribution. This title also contains research papers offering fresh insights into issues such as how wages, employment and incomes are affected by the crisis, which demographic groups are most vulnerable in the recession, and more.
Book Synopsis Income Distribution and Economic Crises by : Bilin Neyapti
Download or read book Income Distribution and Economic Crises written by Bilin Neyapti and published by . This book was released on 2015 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes the relationship between income distribution and the severity of economic crises, where the severity is measured by the length and the depth of the recessions. Using an extensive panel dataset on income distribution and employing an event study framework, we find significant evidence that there is a negative association between the prevailing degree of income inequality and the severity of the recessions. In the case of high income countries that have bad income distribution, however, recessions are observed to be longer than the average. This is likely to result from the strong status-quo bias of the powerful groups and their access to the means of redistribution towards the poor in order to circumvent the reforms pressures for creative destruction and improved income distribution. The longer period of recessions observed in developed countries than in less developed countries in the aftermath of the Great Recession is supportive of this argument.The findings also reveal that recessions tend to be longer during the decade of the 1990s than the rest of the period studied. Evidence indicates that openness is also associated with prolonged recessions.With regard to the impact of recessions on income distribution, the evidence in the paper indicates that the post-crises income distribution worsens significantly with the length but improves with the depth of the preceding recessions. We also note that, in addition to the persistence effect, the lack of monetary discipline worsens income distribution in the post-crises periods significantly.
Book Synopsis Knowing When You Do Not Know by : Ambar Narayan
Download or read book Knowing When You Do Not Know written by Ambar Narayan and published by World Bank Publications. This book was released on 2012-01-12 with total page 77 pages. Available in PDF, EPUB and Kindle. Book excerpt: Microeconomic shocks are rarely predictable and their employment, poverty and distributional impacts are difficult to track because real-time data are typically not available. However, measuring these impacts is for designing effective and timely policy response.
Book Synopsis The Great Recession and the Distribution of Household Income by : Stephen P. Jenkins
Download or read book The Great Recession and the Distribution of Household Income written by Stephen P. Jenkins and published by Oxford University Press, USA. This book was released on 2013 with total page 296 pages. Available in PDF, EPUB and Kindle. Book excerpt: The so-called Great Recession that followed the global financial crisis at the end of 2007 was the largest economic downturn since the 1930s for most rich countries. To what extent were household incomes affected by this event, and how did the effects differ across countries? This is the first cross-national study of the impact of the Great Recession on the distribution of household incomes. Looking at real income levels, poverty rates, and income inequality, it focusses on the period 2007-9, but also considers longer-term impacts. Three vital contributions are made. First, the book reviews lessons from the past about the relationships between macroeconomic change and the household income distribution. Second, it considers the experience of 21 rich OECD member countries drawing on a mixture of national accounts, and labour force and household survey data. Third, the book presents case-study evidence for six countries: Germany, Ireland, Italy, Sweden, the UK, and the USA. The book shows that, between 2007 and 2009, government support through the tax and benefit system provided a cushion against the downturn, and household income distributions did not change much. But, after 2009, there is likely to be much greater change in incomes as a result of the fiscal consolidation measures that are being put into place to address the structural deficits accompanying the recession. The book's main policy lesson is that stabilisation of the household income distribution in the face of macroeconomic turbulence is an achievable policy goal, at least in the short-term.
Book Synopsis How Mexico's Financial Crisis Affected Income Distribution by : Gladys Lopez Acevedo
Download or read book How Mexico's Financial Crisis Affected Income Distribution written by Gladys Lopez Acevedo and published by World Bank Publications. This book was released on with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: After Mexico's financial crisis in 1994, the distribution of income and labor earnings improved. But financial income and rising labor earnings in higher-income brackets are growing sources of inequality in Mexico.
Book Synopsis Financial Crises, Poverty, and Income Distribution by : Emanuele Baldacci
Download or read book Financial Crises, Poverty, and Income Distribution written by Emanuele Baldacci and published by International Monetary Fund. This book was released on 2002 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: Developing and transition economies are prone to financial crises, including balance of payments and banking crises. These crises affect poverty and the distribution of income through a variety of channels: slowdowns in economic activity, relative price changes, and fiscal retrenchment, among others. This paper deals with the impact of financial crises on the incidence of poverty and income distribution, and discusses policy options that can be considered by governments in the aftermath of crises. Empirical evidence, based on both macro- and microlevel data, shows that financial crises are associated with an increase in poverty and, in some cases, income inequality. The provison of targeted safety nets and the protection of specific social programs from fiscal retrenchment remain the main short-term propoor policy responses to financial crises.
Download or read book Inequality written by Folke Dovring and published by Praeger. This book was released on 1991 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: A worsening economic crisis due to the shift in wealth over the past decade is the central concern of this carefully documented study. It profiles the current status of income inequality in this country and discerns disturbing trends for the future. A wealth of data are collected, evaluated, and simplified into a straightforward view of the variables of income distribution. Dovring asserts that these must be examined in order to reverse the economic decline that threatens our democratic system. The study clarifies the problems associated with income inequality and formulates a consistent system for measuring its effects.
Book Synopsis Wage-Led Growth by : Engelbert Stockhammer
Download or read book Wage-Led Growth written by Engelbert Stockhammer and published by Springer. This book was released on 2013-12-03 with total page 329 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume seeks to go beyond the microeconomic view of wages as a cost having negative consequences on a given firm, to consider the positive macroeconomic dynamics associated with wages as a major component of aggregate demand.
Book Synopsis How Mexico's Financial Crisis Affected Income Distribution by : Gladys Lopez Acevedo
Download or read book How Mexico's Financial Crisis Affected Income Distribution written by Gladys Lopez Acevedo and published by World Bank Publications. This book was released on 2000 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: After Mexico's financial crisis in 1994, the distribution of income and labor earnings improved. But financial income and rising labor earnings in higher-income brackets are growing sources of inequality in Mexico.
Book Synopsis The Great Recession and Distribution of Income in California by : Sarah Bohn
Download or read book The Great Recession and Distribution of Income in California written by Sarah Bohn and published by Public Policy Instit. of CA. This book was released on 2011 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Causes and Consequences of Income Inequality by : Ms.Era Dabla-Norris
Download or read book Causes and Consequences of Income Inequality written by Ms.Era Dabla-Norris and published by International Monetary Fund. This book was released on 2015-06-15 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes the extent of income inequality from a global perspective, its drivers, and what to do about it. The drivers of inequality vary widely amongst countries, with some common drivers being the skill premium associated with technical change and globalization, weakening protection for labor, and lack of financial inclusion in developing countries. We find that increasing the income share of the poor and the middle class actually increases growth while a rising income share of the top 20 percent results in lower growth—that is, when the rich get richer, benefits do not trickle down. This suggests that policies need to be country specific but should focus on raising the income share of the poor, and ensuring there is no hollowing out of the middle class. To tackle inequality, financial inclusion is imperative in emerging and developing countries while in advanced economies, policies should focus on raising human capital and skills and making tax systems more progressive.
Book Synopsis Growing Unequal? Income Distribution and Poverty in OECD Countries by : OECD
Download or read book Growing Unequal? Income Distribution and Poverty in OECD Countries written by OECD and published by OECD Publishing. This book was released on 2008-10-21 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report provides evidence of a fairly generalised increase in income inequality over the past two decades across OECD countries, but the timing, intensity and causes of the increase differ from what is typically suggested in the media.
Book Synopsis Banking Sector Crises and Inequality by : Patrick Honohan
Download or read book Banking Sector Crises and Inequality written by Patrick Honohan and published by World Bank Publications. This book was released on 2005 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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, the poor are much less able to absorb a cut in income: safety-net policies are crucial during a downturn even if the gap between rich and poor has temporarily narrowed. More fundamentally, distributional shifts during the crisis may be less important than the fact that underlying financial policy and infrastructures conducive to crisis can also be associated with more unequal societies.
Book Synopsis Will COVID-19 Have Long-Lasting Effects on Inequality? Evidence from Past Pandemics by : Davide Furceri
Download or read book Will COVID-19 Have Long-Lasting Effects on Inequality? Evidence from Past Pandemics written by Davide Furceri and published by International Monetary Fund. This book was released on 2021-05 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides evidence on the impact of major epidemics from the past two decades on income distribution. The pandemics in our sample, even though much smaller in scale than COVID-19, have led to increases in the Gini coefficient, raised the income share of higher-income deciles, and lowered the employment-to-population ratio for those with basic education compared to those with higher education. We provide some evidence that the distributional consequences from the current pandemic may be larger than those flowing from the historical pandemics in our sample, and larger than those following typical recessions and financial crises.
Book Synopsis Inequality and Uneven Development in the Post-Crisis World by : Sebastiano Fadda
Download or read book Inequality and Uneven Development in the Post-Crisis World written by Sebastiano Fadda and published by Routledge. This book was released on 2017-07-14 with total page 277 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the years following the financial crash, two issues have become central to the debate in economics: inequality and the uneven nature of sustainable development. These two issues are at the core of this book which aims to explain three key questions: why inequality has increased so much in the last three decades; why most advanced economies are stagnating or are experiencing moderate economic growth; and why, even where economic growth is occurring, the quality of that growth is questioned. Inequality and Uneven Development in the Post-Crisis World is divided into three parts. The first part concerns the theoretical aspects of inequality, and ethical issues regarding economics and equality. The second part explores empirical evidence and policy suggestions drawing on the uneven levels of development and unprecedented levels of inequality experienced among advanced economies in the context of global financial capitalism. The third part focuses on sustainable development issues such as full employment, social costs of global trade liberalization, environmental sustainability and ecological issues. Along with inequality these issues are central for capitalism and for economic development. This volume is of interest to those who study political economy, sustainable development and social inequality.
