International Finance Discussion Papers: Income Inequality and Macroeconomic Fluctuations - Couverture souple

Iyigun, Murat F; Owen, Ann L

 
9781288734023: International Finance Discussion Papers: Income Inequality and Macroeconomic Fluctuations
Couverture souple
ISBN 10 : 1288734026 ISBN 13 : 9781288734023
Editeur : BiblioBazaar, LLC, 2013

Synopsis

When per capita income is low, increases in income inequality make macroeconomic cycles less severe. We present a model in which access to credit is based on earnings potential. If low as well as middle income individuals are credit constrained, increases in income inequality lead to smaller fluctuations in aggregate consumption and output. Empirical evidence from cross-country data supports the view that greater income inequality causes lower variation of real consumption and output growth in low income countries. When per capita income is high, however, this effect is reversed.

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Éditeur
BiblioBazaar, LLC
Date d'édition
2013
Langue
anglais
ISBN 10 
1288734026
ISBN 13 
9781288734023
Reliure
Broché
Nombre de pages
34
Coordonnées du fabricant
non disponible
Personne responsable
non disponible