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This paper develops a simple macroeconomic model that shows that combining capital market imperfections together with unequal access to investment opportunities across individuals can generate endogenous and permanent fluctuations in aggregate GDP, investment, and interest rates. Reducing...
Persistent link: https://www.econbiz.de/10010859202
Persistent link: https://www.econbiz.de/10002116120
This paper presents data on the evolution of top incomes and wages from 1956 to 2000 in India using individual tax returns data. Our data shows that the shares of the top 0.01%, the top 0.1% and the top 1% in total income, shrank very substantially until the early to mid 1980s but then went back...
Persistent link: https://www.econbiz.de/10014075429
This article presents data on the evolution of top incomes and wages for 1922-2000 in India using individual tax return data. The data show that the shares of the top 0.01 percent, 0.1 percent, and 1 percent in total income shrank substantially from the 1950s to the early to mid-1980s but then...
Persistent link: https://www.econbiz.de/10012564068
This article presents data on the evolution of top incomes and wages for 1922-2000 in India using individual tax return data. The data show that the shares of the top 0.01 percent, 0.1 percent, and 1 percent in total income shrank substantially from the 1950s to the early to mid-1980s but then...
Persistent link: https://www.econbiz.de/10015360496
Economics
Persistent link: https://www.econbiz.de/10009432010
Economics
Persistent link: https://www.econbiz.de/10009432011
How does uncertainty and credit constraints affect the cyclical composition of investment and thereby volatility and growth? This paper addresses this question within a model where firms engage in two types of investment: a short-term one; and a long-term one, which contributes more to...
Persistent link: https://www.econbiz.de/10009432719
The recent East Asian crisis has highlighted the relationship between financial development and output volatility. In this essay we develop a simple model of a small open economy producing a tradeable good using a non-tradeable input and where firms access to borrowings and investment depends on...
Persistent link: https://www.econbiz.de/10011430002
This paper introduces a framework for analyzing the role of financial factors as a source of instability in small open economies. Our basic model is a dynamic open economy model with one tradeable and one non-tradeable good with the non-tradeable being an input to the production of the...
Persistent link: https://www.econbiz.de/10011430005