Structure of Income Inequality and Household ...
Type de document :
Partie d'ouvrage
Titre :
Structure of Income Inequality and Household Leverage: Theory and Cross-Country Evidence
Auteur(s) :
Bazillier, Rémi [Auteur]
Centre d'économie de la Sorbonne [CES]
Université Paris 1 Panthéon-Sorbonne [UP1]
Héricourt, Jérôme [Auteur]
Lille économie management - UMR 9221 [LEM]
Centre d'Etudes Prospectives et d'Informations Internationales [CEPII]
Ligonnière, Samuel [Auteur]
Lille économie management - UMR 9221 [LEM]
Ecole Normale Supérieure Paris-Saclay [ENS Paris Saclay]
Centre d'économie de la Sorbonne [CES]
Université Paris 1 Panthéon-Sorbonne [UP1]
Héricourt, Jérôme [Auteur]
Lille économie management - UMR 9221 [LEM]
Centre d'Etudes Prospectives et d'Informations Internationales [CEPII]
Ligonnière, Samuel [Auteur]
Lille économie management - UMR 9221 [LEM]
Ecole Normale Supérieure Paris-Saclay [ENS Paris Saclay]
Date de publication :
2019-02
Mot(s)-clé(s) en anglais :
Credit
Finance
Income Inequality
Inequality structure
Finance
Income Inequality
Inequality structure
Discipline(s) HAL :
Sciences de l'Homme et Société/Economies et finances
Résumé en anglais : [en]
How does income inequality and its structure affect credit? We extend the theoretical framework by Kumhof et al. (2015) to distinguish between upper, middle and low-income classes, and show that most of the positive impact ...
Lire la suite >How does income inequality and its structure affect credit? We extend the theoretical framework by Kumhof et al. (2015) to distinguish between upper, middle and low-income classes, and show that most of the positive impact of inequality on credit predicted by Kumhof et al. (2015) should be driven by the share of total output owned by the middle classes. Consistently, this impact should weaken in countries where financial markets are insufficiently developed. These theoretical predictions are empirically confirmed by a study based on a 41-country dataset over the period 1970-2014, where exogenous variations of inequality are identified with a new instrument variable, the total number of ILO conventions signed at the country-level.Lire moins >
Lire la suite >How does income inequality and its structure affect credit? We extend the theoretical framework by Kumhof et al. (2015) to distinguish between upper, middle and low-income classes, and show that most of the positive impact of inequality on credit predicted by Kumhof et al. (2015) should be driven by the share of total output owned by the middle classes. Consistently, this impact should weaken in countries where financial markets are insufficiently developed. These theoretical predictions are empirically confirmed by a study based on a 41-country dataset over the period 1970-2014, where exogenous variations of inequality are identified with a new instrument variable, the total number of ILO conventions signed at the country-level.Lire moins >
Langue :
Anglais
Vulgarisation :
Non
Commentaire :
URL des Documents de travail : https://centredeconomiesorbonne.univ-paris1.fr/documents-de-travail-du-ces/
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