Inequality, Leverage and Crises : The Case of Endogenous Default /
The paper studies how high household 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 high-income households, a large increase in debt leverage of the remainder, an...
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| Altri autori: | , |
| Natura: | Periodico |
| Lingua: | English |
| Pubblicazione: |
Washington, D.C. :
International Monetary Fund,
2013.
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| Serie: | IMF Working Papers; Working Paper ;
No. 2013/249 |
| Accesso online: | Full text available on IMF |