Income Inequality And Current Account Imbalances

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Income Inequality and Current Account Imbalances

Mr.Michael Kumhof,Ms.Claire Lebarz,Mr.Romain Ranciere,Mr.Alexander W. Richter,Mr.Nathaniel A. Throckmorton
Income Inequality and Current Account Imbalances Book PDF

Author : Mr.Michael Kumhof,Ms.Claire Lebarz,Mr.Romain Ranciere,Mr.Alexander W. Richter,Mr.Nathaniel A. Throckmorton
Publisher : International Monetary Fund
Page : 44 pages
File Size : 43,6 Mb
Release : 2012-01-01
Category : Business & Economics
ISBN : 9781463936396

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Income Inequality and Current Account Imbalances by Mr.Michael Kumhof,Ms.Claire Lebarz,Mr.Romain Ranciere,Mr.Alexander W. Richter,Mr.Nathaniel A. Throckmorton Pdf

This paper studies the empirical and theoretical link between increases in income inequality and increases in current account deficits. Cross-sectional econometric evidence shows that higher top income shares, and also financial liberalization, which is a common policy response to increases in income inequality, are associated with substantially larger external deficits. To study this mechanism we develop a DSGE model that features workers whose income share declines at the expense of investors. Loans to workers from domestic and foreign investors support aggregate demand and result in current account deficits. Financial liberalization helps workers smooth consumption, but at the cost of higher household debt and larger current account deficits. In emerging markets, workers cannot borrow from investors, who instead deploy their surplus funds abroad, leading to current account surpluses instead of deficits.

Income Inequality and Current Account Imbalances

Michael Kumhof
Income Inequality and Current Account Imbalances Book PDF

Author : Michael Kumhof
Publisher : Unknown
Page : 46 pages
File Size : 41,9 Mb
Release : 2015
Category : Electronic
ISBN : OCLC:1306531428

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Income Inequality and Current Account Imbalances by Michael Kumhof Pdf

This paper studies the empirical and theoretical link between increases in income inequality and increases in current account deficits. Cross-sectional econometric evidence shows that higher top income shares, and also financial liberalization, which is a common policy response to increases in income inequality, are associated with substantially larger external deficits. To study this mechanism we develop a DSGE model that features workers whose income share declines at the expense of investors. Loans to workers from domestic and foreign investors support aggregate demand and result in current account deficits. Financial liberalization helps workers smooth consumption, but at the cost of higher household debt and larger current account deficits. In emerging markets, workers cannot borrow from investors, who instead deploy their surplus funds abroad, leading to current account surpluses instead of deficits.

Wealth Inequality and Private Savings: The Case of Germany

Mai Dao
Wealth Inequality and Private Savings The Case of Germany Book PDF

Author : Mai Dao
Publisher : International Monetary Fund
Page : 32 pages
File Size : 41,5 Mb
Release : 2020-06-26
Category : Business & Economics
ISBN : 9781513546063

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Wealth Inequality and Private Savings: The Case of Germany by Mai Dao Pdf

This paper explores the interaction between corporate ownership concentration and private savings, and by extension, the current account balance in Germany. As high corporate savings largely reflected capital income accruing to wealthy households and increasingly retained in closely-held firms, the buildup of external imbalances in Germany has been accompanied by widening top income inequality, rising private savings and compressed consumption rates. Rising corporate profits in an environment of high business wealth concentration account for 90 percent of the rise in the private savings rate and a third of the increase in the German current account surplus over 1999–2016.

Income Inequality and Current Account Imbalances

Mr.Michael Kumhof,Ms.Claire Lebarz,Mr.Romain Ranciere,Mr.Alexander W. Richter,Mr.Nathaniel A. Throckmorton
Income Inequality and Current Account Imbalances Book PDF

Author : Mr.Michael Kumhof,Ms.Claire Lebarz,Mr.Romain Ranciere,Mr.Alexander W. Richter,Mr.Nathaniel A. Throckmorton
Publisher : International Monetary Fund
Page : 44 pages
File Size : 51,7 Mb
Release : 2012-01-01
Category : Business & Economics
ISBN : 9781463930578

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Income Inequality and Current Account Imbalances by Mr.Michael Kumhof,Ms.Claire Lebarz,Mr.Romain Ranciere,Mr.Alexander W. Richter,Mr.Nathaniel A. Throckmorton Pdf

This paper studies the empirical and theoretical link between increases in income inequality and increases in current account deficits. Cross-sectional econometric evidence shows that higher top income shares, and also financial liberalization, which is a common policy response to increases in income inequality, are associated with substantially larger external deficits. To study this mechanism we develop a DSGE model that features workers whose income share declines at the expense of investors. Loans to workers from domestic and foreign investors support aggregate demand and result in current account deficits. Financial liberalization helps workers smooth consumption, but at the cost of higher household debt and larger current account deficits. In emerging markets, workers cannot borrow from investors, who instead deploy their surplus funds abroad, leading to current account surpluses instead of deficits.

Inequality, Leverage and Crises

Mr.Michael Kumhof,Mr.Romain Ranciere
Inequality Leverage and Crises Book PDF

Author : Mr.Michael Kumhof,Mr.Romain Ranciere
Publisher : International Monetary Fund
Page : 39 pages
File Size : 46,7 Mb
Release : 2010-11-01
Category : Business & Economics
ISBN : 9781455210756

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Inequality, Leverage and Crises by Mr.Michael Kumhof,Mr.Romain Ranciere Pdf

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.

Inequality and Finance in Macrodynamics

Bettina Bökemeier,Alfred Greiner
Inequality and Finance in Macrodynamics Book PDF

Author : Bettina Bökemeier,Alfred Greiner
Publisher : Springer
Page : 270 pages
File Size : 48,7 Mb
Release : 2017-04-26
Category : Business & Economics
ISBN : 9783319546902

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Inequality and Finance in Macrodynamics by Bettina Bökemeier,Alfred Greiner Pdf

This contributed volume combines approaches of the current inequality debate with aspects of finance based on profound macroeconomic model analyses. Research on inequality has had a long tradition in economics. With the financial crisis from 2007, not only output decreased tremendously, but also inequality has risen since then. The book presents selected contributions of a workshop held at Bielefeld University in 2016 and features additional papers written by experts in the field. A mixture of established researchers and young scholars presents both theoretical and empirical frameworks to analyze the subject.

Causes and Consequences of Income Inequality

Ms. Era Dabla-Norris,Ms. Kalpana Kochhar,Mrs. Nujin Suphaphiphat,Mr. Frantisek Ricka,Evridiki Tsounta
Causes and Consequences of Income Inequality Book PDF

Author : Ms. Era Dabla-Norris,Ms. Kalpana Kochhar,Mrs. Nujin Suphaphiphat,Mr. Frantisek Ricka,Evridiki Tsounta
Publisher : International Monetary Fund
Page : 33 pages
File Size : 51,5 Mb
Release : 2015-06-15
Category : Business & Economics
ISBN : 9781513547435

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Causes and Consequences of Income Inequality by Ms. Era Dabla-Norris,Ms. Kalpana Kochhar,Mrs. Nujin Suphaphiphat,Mr. Frantisek Ricka,Evridiki Tsounta Pdf

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.

Income, Inequality, and Poverty During the Transition from Planned to Market Economy

Branko Milanovi?
Income Inequality and Poverty During the Transition from Planned to Market Economy Book PDF

Author : Branko Milanovi?
Publisher : World Bank Publications
Page : 256 pages
File Size : 43,8 Mb
Release : 1998
Category : Business & Economics
ISBN : 082133994X

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Income, Inequality, and Poverty During the Transition from Planned to Market Economy by Branko Milanovi? Pdf

World Bank Technical Paper No. 394. Joint Forest Management (JFM) has emerged as an important intervention in the management of Indias forest resources. This report sets out an analytical method for examining the costs and benefits of JFM arrangements. Two pilot case studies in which the method was used demonstrate interesting outcomes regarding incentives for various groups to participate. The main objective of this study is to develop a better understanding of the incentives for communities to participate in JFM.

Finance and Inequality

Mr.Martin Cihak,Ms.Ratna Sahay
Finance and Inequality Book PDF

Author : Mr.Martin Cihak,Ms.Ratna Sahay
Publisher : International Monetary Fund
Page : 50 pages
File Size : 55,9 Mb
Release : 2020-01-17
Category : Business & Economics
ISBN : 9781513526546

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Finance and Inequality by Mr.Martin Cihak,Ms.Ratna Sahay Pdf

The study examines empirical relationships between income inequality and three features of finance: depth (financial sector size relative to the economy), inclusion (access to and use of financial services by individuals and firms), and stability (absence of financial distress). Using new data covering a wide range of countries, the analysis finds that the financial sector can play a role in reducing inequality, complementing redistributive fiscal policy. By expanding the provision of financial services to low-income households and small businesses, it can serve as a powerful lever in helping create a more inclusive society but—if not well managed—it can amplify inequalities.

Wage-Led Growth

Engelbert Stockhammer
Wage Led Growth Book PDF

Author : Engelbert Stockhammer
Publisher : Springer
Page : 329 pages
File Size : 42,5 Mb
Release : 2013-12-03
Category : Business & Economics
ISBN : 9781137357939

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Wage-Led Growth by Engelbert Stockhammer Pdf

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.

Communities in Action

National Academies of Sciences, Engineering, and Medicine,Health and Medicine Division,Board on Population Health and Public Health Practice,Committee on Community-Based Solutions to Promote Health Equity in the United States
Communities in Action Book PDF

Author : National Academies of Sciences, Engineering, and Medicine,Health and Medicine Division,Board on Population Health and Public Health Practice,Committee on Community-Based Solutions to Promote Health Equity in the United States
Publisher : National Academies Press
Page : 583 pages
File Size : 49,6 Mb
Release : 2017-04-27
Category : Medical
ISBN : 9780309452960

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Communities in Action by National Academies of Sciences, Engineering, and Medicine,Health and Medicine Division,Board on Population Health and Public Health Practice,Committee on Community-Based Solutions to Promote Health Equity in the United States Pdf

In the United States, some populations suffer from far greater disparities in health than others. Those disparities are caused not only by fundamental differences in health status across segments of the population, but also because of inequities in factors that impact health status, so-called determinants of health. Only part of an individual's health status depends on his or her behavior and choice; community-wide problems like poverty, unemployment, poor education, inadequate housing, poor public transportation, interpersonal violence, and decaying neighborhoods also contribute to health inequities, as well as the historic and ongoing interplay of structures, policies, and norms that shape lives. When these factors are not optimal in a community, it does not mean they are intractable: such inequities can be mitigated by social policies that can shape health in powerful ways. Communities in Action: Pathways to Health Equity seeks to delineate the causes of and the solutions to health inequities in the United States. This report focuses on what communities can do to promote health equity, what actions are needed by the many and varied stakeholders that are part of communities or support them, as well as the root causes and structural barriers that need to be overcome.

World Inequality Report 2022

Lucas Chancel,Thomas Piketty,Emmanuel Saez,Gabriel Zucman
World Inequality Report 2022 Book PDF

Author : Lucas Chancel,Thomas Piketty,Emmanuel Saez,Gabriel Zucman
Publisher : Harvard University Press
Page : 267 pages
File Size : 42,7 Mb
Release : 2022-11
Category : Business & Economics
ISBN : 9780674273566

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World Inequality Report 2022 by Lucas Chancel,Thomas Piketty,Emmanuel Saez,Gabriel Zucman Pdf

World Inequality Report 2022 is the most authoritative and comprehensive account of global trends in inequality, providing cutting-edge information about income and wealth inequality and also pioneering data about the history of inequality, gender inequality, environmental inequalities, and trends in international tax reform and redistribution.

World Social Report 2020

Department of Economic and Social Affairs
World Social Report 2020 Book PDF

Author : Department of Economic and Social Affairs
Publisher : United Nations
Page : 216 pages
File Size : 46,8 Mb
Release : 2020-02-14
Category : Social Science
ISBN : 9789210043670

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World Social Report 2020 by Department of Economic and Social Affairs Pdf

This report examines the links between inequality and other major global trends (or megatrends), with a focus on technological change, climate change, urbanization and international migration. The analysis pays particular attention to poverty and labour market trends, as they mediate the distributional impacts of the major trends selected. It also provides policy recommendations to manage these megatrends in an equitable manner and considers the policy implications, so as to reduce inequalities and support their implementation.

Income Inequality

David Alan Green,William Craig Riddell,France St-Hilaire
Income Inequality Book PDF

Author : David Alan Green,William Craig Riddell,France St-Hilaire
Publisher : Art of the State
Page : 0 pages
File Size : 51,7 Mb
Release : 2016
Category : Political Science
ISBN : 0886453291

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Income Inequality by David Alan Green,William Craig Riddell,France St-Hilaire Pdf

"Rising income inequality has been at the forefront of public debate in Canada in recent years, yet there is still much to be learned about the economic forces driving the distribution of earnings and income in this country and how they might evolve in coming years. With research showing that the tax-and-transfer system is less effective than in the past in counteracting growing income disparities, the need for policy-makers to understand the factors at play is all the more urgent. The Institute for Research on Public Policy, in collaboration with the Canadian Labour Market and Skills Researcher Network, has gathered some of the country’s leading experts to provide new evidence on the causes and effects of rising income inequality in Canada and to consider the role of policy. Their research and analysis constitutes a comprehensive review of Canadian inequality trends in recent decades, including changing earnings and income dynamics among middle--class and top earners, wage and job polarization across provinces, and persistent poverty among vulnerable groups. The authors also examine the changing role of education and unionization, as well as the complex interplay of redistributive policies and politics, in order to propose new directions for policy. Amid growing anxieties about the economic prospects of the middle class, Income Inequality: The Canadian Story will inform the public discourse on this issue of central concern for all Canadians."--Publisher's website.

Global Income Inequality

Branko Milanovi?
Global Income Inequality Book PDF

Author : Branko Milanovi?
Publisher : World Bank Publications
Page : 35 pages
File Size : 50,7 Mb
Release : 2006
Category : Equality
ISBN : 8210379456XXX

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Global Income Inequality by Branko Milanovi? Pdf

"The paper presents a nontechnical summary of the current state of debate on the measurement and implications of global inequality (inequality between citizens of the world). It discusses the relationship between globalization and global inequality. And it shows why global inequality matters and proposes a scheme for global redistribution. "--World Bank web site.