Income Inequality and Macroeconomic Fluctuations
Author : Murat F. Iyigun
Publisher :
Page : 44 pages
File Size : 15,56 MB
Release : 1997
Category : Business cycles
ISBN :
Author : Murat F. Iyigun
Publisher :
Page : 44 pages
File Size : 15,56 MB
Release : 1997
Category : Business cycles
ISBN :
Author : Thad W. Mirer
Publisher :
Page : 62 pages
File Size : 13,51 MB
Release : 1972
Category : Income
ISBN :
Author : Edouard Challe
Publisher : MIT Press
Page : 361 pages
File Size : 13,76 MB
Release : 2023-09-19
Category : Business & Economics
ISBN : 0262549298
The basic tools for analyzing macroeconomic fluctuations and policies, applied to concrete issues and presented within an integrated New Keynesian framework. This textbook presents the basic tools for analyzing macroeconomic fluctuations and policies and applies them to contemporary issues. It employs a unified New Keynesian framework for understanding business cycles, major crises, and macroeconomic policies, introducing students to the approach most often used in academic macroeconomic analysis and by central banks and international institutions. The book addresses such topics as how recessions and crises spread; what instruments central banks and governments have to stimulate activity when private demand is weak; and what “unconventional” macroeconomic policies might work when conventional monetary policy loses its effectiveness (as has happened in many countries in the aftermath of the Great Recession.). The text introduces the foundations of modern business cycle theory through the notions of aggregate demand and aggregate supply, and then applies the theory to the study of regular business-cycle fluctuations in output, inflation, and employment. It considers conventional monetary and fiscal policies aimed at stabilizing the business cycle, and examines unconventional macroeconomic policies, including forward guidance and quantitative easing, in situations of “liquidity trap”—deep crises in which conventional policies are either ineffective or have very different effects than in normal time. This book is the first to use the New Keynesian framework at the advanced undergraduate level, connecting undergraduate learning not only with the more advanced tools taught at the graduate level but also with the large body of policy-oriented research in academic journals. End-of-chapter problems help students master the materials presented.
Author : Ms.Era Dabla-Norris
Publisher : International Monetary Fund
Page : 39 pages
File Size : 13,27 MB
Release : 2015-06-15
Category : Business & Economics
ISBN : 1513547437
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.
Author : Mr.Michael Kumhof
Publisher : International Monetary Fund
Page : 39 pages
File Size : 23,61 MB
Release : 2010-11-01
Category : Business & Economics
ISBN : 1455210757
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.
Author : Lance Taylor
Publisher : Cambridge University Press
Page : 145 pages
File Size : 45,84 MB
Release : 2020-08-20
Category : Business & Economics
ISBN : 1108494633
An innovative approach to measuring inequality providing the first full integration of distributional and macro level data for the US.
Author : Marcelo Cortes Neri
Publisher :
Page : 84 pages
File Size : 47,80 MB
Release : 1999
Category : Business cycles
ISBN :
"This paper attempted to measure the evolution of income distribution and its determinants during the period of economic reforms. [It's] divided in two parts: ... [first] long-run relations between reforms and income distribution were explored ... [secondly] explored relations between movements of distributive variables, on the one hand, and economic reforms and macroeconomic fluctuations, on the other"--p.5
Author : Mr.Olivier Coibion
Publisher : International Monetary Fund
Page : 57 pages
File Size : 15,87 MB
Release : 2012-08-01
Category : Business & Economics
ISBN : 1475505493
We study the effects and historical contribution of monetary policy shocks to consumption and income inequality in the United States since 1980. Contractionary monetary policy actions systematically increase inequality in labor earnings, total income, consumption and total expenditures. Furthermore, monetary shocks can account for a significant component of the historical cyclical variation in income and consumption inequality. Using detailed micro-level data on income and consumption, we document the different channels via which monetary policy shocks affect inequality, as well as how these channels depend on the nature of the change in monetary policy.
Author : Giovanni Andrea Cornia
Publisher : OUP Oxford
Page : 337 pages
File Size : 38,29 MB
Release : 2014-04-17
Category : Business & Economics
ISBN : 0191016284
Human Development is widely recognised as the overriding goal of development, yet its realization is challenged by growing inequality, macro-economic fluctuations, and recurrent financial crises. This edited collection reflects on the work of Richard Jolly and includes contributions from leading scholars of development, all of whom have worked with Richard Jolly at varying points in his distinguished career. The volume advances thinking in the area of Human Development by discussing the evolution of its conceptualization and the policy implications, and the achievements in related key areas such as education, social protection, and employment. It juxtaposes these theoretical and (at times) real life improvements with disturbing developments in terms of growing inequality and macro-economic instability. It documents the growing income inequality which has characterized both developing and developed countries. It shows that there has been a decline in some countries and identifies the policies adopted in these exceptional cases. It also shows also where and how public expenditure on Human Development in developing countries has been affected by the 2008 financial crisis and presents a new framework for a pro-growth pro-Human Development macro-economics, including suggestions for the countercyclical regulation of financial flows. The book also argues that a series of disruptive factors are nudging the innovation trajectory in new potentially pro-poor and pro-Human Development directions, especially if policies speed-up the diffusion of new efficient appropriate technologies in low and middle income economies.
Author : Jaylson Jair da Silveira
Publisher :
Page : pages
File Size : 20,62 MB
Release : 2019
Category :
ISBN :