Add to ORKGRising inequality affects the composition of asset demands as well as aggregate demand. The poor have few financial assets and their portfolio is skewed towards fixed-income assets. The rich, by contrast, hold a large proportion of their wealth in stocks. Thus, an increase in inequality tends to raise the demand for stocks. This generates capital gains, and these gains can fuel a bubble, as desired portfolios shift further towards stocks. JEL Categories: E11, E2
This paper argues that although the crisis may have emerged in the financial sector, its roots are m...
Using a sample of OECD countries, we explore the relationships between stock market bubbles and inco...
Much attention has recently been given to whether market reforms reduce or increase inequality. Ineq...
Rising inequality affects the composition of asset demands as well as aggregate demand. The poor hav...
Rising inequality a¤ects the composition of asset demands as well as aggregate demand. The poor have...
Rising inequality affects the composition of asset demands as well as aggregate demand. The poor hav...
The last 30 years saw substantial increases in wealth inequality and stock market participation, sma...
Modern capitalists multiply their income and wealth largely due to revaluation of the financial asse...
The explosion generated by the global financial crisis in 2008 and its transmission to the real econ...
The crisis that broke out in August 2007 was caused by the fact that the market for collateralised d...
Although the crisis emerged in the financial sector, its roots are deeper and lie in a structural ch...
ABSTRACT: The most widely embraced explanations of the financial crisis of 2008 have centered upon i...
The literature on economic inequality has shown that stock markets can negatively impact aggregate d...
This paper offers a contribution to the understanding of the interactions between finance, instabili...
The paper studies how high leverage and crises can arise as a result of changes in the income distri...
This paper argues that although the crisis may have emerged in the financial sector, its roots are m...
Using a sample of OECD countries, we explore the relationships between stock market bubbles and inco...
Much attention has recently been given to whether market reforms reduce or increase inequality. Ineq...
Rising inequality affects the composition of asset demands as well as aggregate demand. The poor hav...
Rising inequality a¤ects the composition of asset demands as well as aggregate demand. The poor have...
Rising inequality affects the composition of asset demands as well as aggregate demand. The poor hav...
The last 30 years saw substantial increases in wealth inequality and stock market participation, sma...
Modern capitalists multiply their income and wealth largely due to revaluation of the financial asse...
The explosion generated by the global financial crisis in 2008 and its transmission to the real econ...
The crisis that broke out in August 2007 was caused by the fact that the market for collateralised d...
Although the crisis emerged in the financial sector, its roots are deeper and lie in a structural ch...
ABSTRACT: The most widely embraced explanations of the financial crisis of 2008 have centered upon i...
The literature on economic inequality has shown that stock markets can negatively impact aggregate d...
This paper offers a contribution to the understanding of the interactions between finance, instabili...
The paper studies how high leverage and crises can arise as a result of changes in the income distri...
This paper argues that although the crisis may have emerged in the financial sector, its roots are m...
Using a sample of OECD countries, we explore the relationships between stock market bubbles and inco...
Much attention has recently been given to whether market reforms reduce or increase inequality. Ineq...