Income Inequality, Financial Development, and Macroeconomic Fluctuations  

Oleh:

Iyigun, Murat F. ; Owen, Ann L.

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: The Economic Journal (EBSCO) vol. 114 no. 495 (Apr. 2004), page 352-376.
Topik: FINANCIAL; income; inequality; financial development; macro economic; fluctuations
Fulltext: 352.pdf (164.49KB)

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Perpustakaan Pusat (Semanggi) Nomor Panggil: EE28.13 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Isi artikel

We examine the relationship between income inequality and variability in aggregate consumption growth. In high - income countries, greater income inequality appears to be associated with more volatility in consumption growth, whereas in lower - income countries, higher levels of income inequality tend to be associated with less volatility. We present evidence that variability in real GDP growth is also related to income inequality in the same way. Our results suggest that the level of financial development may help to explain why the distribution of income affects the short - run variability of consumption and output differently in high - income countries than in low - income countries.

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