Inequality, Leverage and Crises:
Gespeichert in:
Bibliographische Detailangaben
Beteilige Person: Ranciere, Romain (VerfasserIn)
Format: Elektronisch E-Book
Sprache:Englisch
Veröffentlicht: Washington, D.C International Monetary Fund 2010
Schriftenreihe:IMF Working Papers Working Paper No. 10/268
Links:http://elibrary.imf.org/view/IMF001/11429-9781455210756/11429-9781455210756/11429-9781455210756.xml
http://elibrary.imf.org/view/IMF001/11429-9781455210756/11429-9781455210756/11429-9781455210756.xml
http://elibrary.imf.org/view/IMF001/11429-9781455210756/11429-9781455210756/11429-9781455210756.xml
http://elibrary.imf.org/view/IMF001/11429-9781455210756/11429-9781455210756/11429-9781455210756.xml
http://elibrary.imf.org/view/IMF001/11429-9781455210756/11429-9781455210756/11429-9781455210756.xml
http://elibrary.imf.org/view/IMF001/11429-9781455210756/11429-9781455210756/11429-9781455210756.xml
http://elibrary.imf.org/view/IMF001/11429-9781455210756/11429-9781455210756/11429-9781455210756.xml
http://elibrary.imf.org/view/IMF001/11429-9781455210756/11429-9781455210756/11429-9781455210756.xml
http://elibrary.imf.org/view/IMF001/11429-9781455210756/11429-9781455210756/11429-9781455210756.xml
http://elibrary.imf.org/view/IMF001/11429-9781455210756/11429-9781455210756/11429-9781455210756.xml
http://elibrary.imf.org/view/IMF001/11429-9781455210756/11429-9781455210756/11429-9781455210756.xml
http://elibrary.imf.org/view/IMF001/11429-9781455210756/11429-9781455210756/11429-9781455210756.xml
http://elibrary.imf.org/view/IMF001/11429-9781455210756/11429-9781455210756/11429-9781455210756.xml
http://elibrary.imf.org/view/IMF001/11429-9781455210756/11429-9781455210756/11429-9781455210756.xml
http://elibrary.imf.org/view/IMF001/11429-9781455210756/11429-9781455210756/11429-9781455210756.xml
http://elibrary.imf.org/view/IMF001/11429-9781455210756/11429-9781455210756/11429-9781455210756.xml
http://elibrary.imf.org/view/IMF001/11429-9781455210756/11429-9781455210756/11429-9781455210756.xml
http://elibrary.imf.org/view/IMF001/11429-9781455210756/11429-9781455210756/11429-9781455210756.xml
http://elibrary.imf.org/view/IMF001/11429-9781455210756/11429-9781455210756/11429-9781455210756.xml
http://elibrary.imf.org/view/IMF001/11429-9781455210756/11429-9781455210756/11429-9781455210756.xml
http://elibrary.imf.org/view/IMF001/11429-9781455210756/11429-9781455210756/11429-9781455210756.xml
Abstract: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
Umfang:1 Online-Ressource (37 p)
ISBN:1455210757
9781455210756